Acceleron Pharma Receives Grant for ACE-011 from the Multiple Myeloma Research Foundation

Acceleron Pharma, Inc. has announced that it was selected to receive a Biotech Investment Award from the Multiple Myeloma Research Foundation to support the research and development of ACE-011, a novel bone forming agent, for the treatment of multiple myeloma.

In addition, Acceleron announced that it began a randomized, double-blind, placebo-controlled multiple ascending dose study of ACE-011.

“We are proud to receive this highly-regarded grant from the Multiple Myeloma Research Foundation,” said John Knopf, Ph.D., Chief Executive Officer of Acceleron.

“With this grant, we will continue to aggressively pursue the development of ACE-011, which has shown encouraging preclinical and clinical effects on bone formation, to treat the complications of bone loss associated with multiple myeloma,” Knopf added.

The multiple dose study will be conducted in healthy, post-menopausal women. Subjects will receive four monthly subcutaneous doses of either ACE-011 or placebo. The primary objective of the study is to assess the safety, tolerability and pharmacokinetics of ACE-011. The pharmacodynamic effects of ACE-011 on bone will also be measured.

“We are excited to start this study with ACE-011 and expect to begin additional studies with this compound later this year for the treatment of cancer and cancer-related bone loss,” said Matthew L. Sherman, M.D., Chief Medical Officer of Acceleron. “Our product pipeline continues to make great progress and we look forward to announcing additional clinical milestones throughout 2008.”