Acetylon Pharmaceuticals to utilise additional funding in multiple myeloma drug development

Jan 9 2010

Acetylon Pharmaceuticals, Inc. announced today that it has closed on a $2 million investment from a new undisclosed private investor to bring its total financing to $9.25 million. This new investment will convert to stock in the next substantial round of preferred equity financing. The Company also announced two additions to the senior management team. Simon S. Jones, Ph.D., was appointed Vice President, Biology and Preclinical Development and John H. van Duzer, Ph.D., was appointed Vice President, Chemistry and Manufacturing. Acetylon is applying its scientific expertise to the development of small molecule HDAC inhibitors that build upon the proven therapeutic potential of HDAC inhibition with enhanced target selectivity. The Company believes that its highly selective HDAC inhibitors may accomplish enhanced clinical utility by reducing or eliminating the debilitating and sometimes life-threatening side effects associated with the current first-generation of non-selective HDAC inhibitors. The first indications targeted for Acetylon’s next-generation HDAC6 inhibitors are multiple myeloma and inflammatory disorders such as rheumatoid arthritis.

“We are very pleased to receive the additional funding and excited to benefit from the extensive industry experience that Simon and John bring to Acetylon, as we focus on the selection of our first HDAC6 inhibitor drug candidate for preclinical studies and ultimately an IND filing”

“We are very pleased to receive the additional funding and excited to benefit from the extensive industry experience that Simon and John bring to Acetylon, as we focus on the selection of our first HDAC6 inhibitor drug candidate for preclinical studies and ultimately an IND filing,” commented Walter Ogier, President and Chief Executive Officer of Acetylon Pharmaceuticals. “The funding provides us the opportunity to engage in additional supportive work this year directed towards our drug development goals in multiple myeloma. Simon and John will also be applying our drug discovery platform to the creation of additional isoform-selective HDAC inhibitor drug candidates for the treatment of autoimmune, neurodegenerative and other major diseases.”