Acceleron Pharma Inc. (XLRN)

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7:01AM Acceleron Pharma earns $7 mln milestone payment for Celgene's (CELG) initiation of Sotatercept Phase 2 Clinical trial in patients with end stage renal disease on hemodialysis (XLRN) 27.62 : Co announces that its collaboration partner, Celgene, has initiated a phase 2 clinical trial of sotatercept in patients with end stage renal disease on hemodialysis. Sotatercept is a novel and first-in-class activin type IIA receptor fusion protein that acts during late-stage erythropoiesis to increase the production of mature red blood cells into circulation.

Acceleron will receive a $7 mln milestone payment from Celgene for the achievement of this event and is also eligible to receive future development, regulatory and commercial milestones of up to $360 mln for the sotatercept program.