By Elaine Rigoli
Tampa, Fla., Aug. 2 - Acceleron Pharma, Inc. has secured $30 million of series B financing.
OrbiMed Advisors, the sole new investor, led the round with participation by all existing institutional investors including Advanced Technology Ventures, Flagship Ventures, Polaris Ventures, Sutter Hill Ventures and Venrock Associates.
As part of this financing, Carl Gordon of OrbiMed will join the board of directors.
Proceeds from this financing will be used to advance ACE-011, an agent for the treatment of bone loss now in phase 1 clinical trials, and several other programs addressing musculoskeletal, metabolic and cancer-related diseases.
Acceleron is a privately held biopharmaceutical company based in Cambridge, Mass.
OrbiMed is an asset-management firm focused on the health sciences industry based in New York.
| Issuer: | Acceleron Pharma, Inc.
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| Issue: | Series B financing
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| Amount: | $30 million
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| Investors: | OrbiMed Advisors, Advanced Technology Ventures, Flagship Ventures, Polaris Ventures, Sutter Hill Ventures and Venrock Associates
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| Announcement date: | Aug. 2
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