Acetylon agrees to being acquired, spins out Regenacy

Privately-held US biotech firm Acetylon Pharmaceuticals on Friday announced that it has entered into an agreement to be acquired by Celgene Corp (Nasdaq: CELG).

Prior to the consummation of the acquisition, Acetylon will spin out a new company, Regenacy Pharmaceuticals, which will focus on the development of novel drug candidates that selectively regenerate intracellular transport and upregulate gene expression to modify the course of disease.

Regenacy will receive exclusive worldwide rights to Acetylon’s Phase II selective histone deacetylase 6 (HDAC6) inhibitor, ricolinostat (ACY-1215), for the treatment of certain non-cancer disease indications including neuropathies, as well as Acetylon’s preclinical selective HDAC1,2 inhibitor candidates and patent families for development in all human disease indications including sickle cell disease and beta-thalassemia.