Celgene invests $100M, gains option to buy Acetylon

07/29/2013 | Boston Globe (tiered subscription model), The

Celgene agreed to invest $100 million in Acetylon Pharmaceuticals in exchange for an exclusive option to purchase the Boston drugmaker at a price from $500 million to $1.1 billion contingent on certain milestones. Acetylon will use some of the funding to further develop ACY-1215, its lead drug candidate for myeloma. Celgene took a $15 million equity stake in Acetylon last year.

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