Regenacy Pharmaceuticals to be Launched by Acetylon Pharmaceuticals & Celgene Corp. Agrees to Complete Acquisition of Acetylon
December 02 2016 - 2:33PM
Business Wire
-- Celgene secures worldwide rights to
Acetylon’s selective HDAC6 inhibitor programs and intellectual
property in oncology, neurodegeneration, and autoimmune disease
--
-- Regenacy receives exclusive, worldwide
license from Celgene to Acetylon’s Phase 2 selective HDAC6
inhibitor ricolinostat (ACY-1215) for the treatment of neuropathies
and other non-oncology disease indications as well as Acetylon’s
preclinical HDAC1,2 and 3 programs –
Acetylon Pharmaceuticals today announced that it has entered
into an agreement to be acquired by Celgene Corporation. Prior to
the consummation of the acquisition, Acetylon will spin out a new
company, Regenacy Pharmaceuticals, LLC, 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 2 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.
The acquisition will provide Celgene with, among other things,
worldwide rights to Acetylon’s selective HDAC6 inhibitor programs
and intellectual property in oncology, neurodegeneration, and
autoimmune disease, including its lead drug candidates citarinostat
(ACY-241) and ricolinostat (ACY-1215).
Financial terms of the acquisition are not being disclosed. The
transaction is subject to customary closing conditions, including
the expiration of the applicable waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976. BMO Capital
Markets Corp. served as exclusive financial advisor to Acetylon in
the transaction.
Key members of the Acetylon executive team will join Regenacy,
which will operate out of Acetylon’s former headquarters in
Boston’s Seaport District. Regenacy will be owned by Acetylon
shareholders (excluding Celgene) and will receive net working
capital in Acetylon to fund Regenacy operations.
“Since its founding in 2008, Acetylon has made substantial
progress in the development of selective HDAC inhibitors for
enhanced therapeutic outcomes,” said Walter C. Ogier, President and
Chief Executive Officer of Regenacy. “We are excited to continue
Acetylon’s legacy through the receipt of rights to many of
Acetylon’s most promising compounds and the continued advancement
of these clinical and preclinical programs in disease indications
outside of Celgene’s areas of strategic focus, where we believe
patients may especially benefit from selective HDAC
inhibition.”
“Acetylon has had a longstanding partnership with Celgene, and
their acquisition of our HDAC6 inhibitor programs is a positive
event for patients and a favorable outcome for our shareholders and
employees,” said Marc A. Cohen, Chairman of Acetylon. “Celgene is
the optimal partner to realize the fullest potential of Acetylon’s
selective HDAC6 inhibitor programs in multiple myeloma and other
oncology indications. Their intimate knowledge of citarinostat and
extensive experience in oncology make them uniquely qualified to
continue development of these exciting programs.”
About Selective HDAC Inhibition
Histone deacetylases (HDACs) comprise a family of 18 related
enzymes found in most human cells, 11 of which utilize zinc atoms
to catalyze the removal of acetyl groups from intracellular
proteins. By this function, HDACs can induce structural changes in
the DNA-histone complex to result in altered gene expression and
protein synthesis. Inappropriate deacetylation can disrupt these
processes and contribute to a wide range of diseases, whereas
regeneration of acetylation selectively causes apoptosis (cell
death) in cancer cells and also induces favorable immunomodulatory
effects. Currently available HDAC drugs non-selectively affect the
expression of numerous other genes in normal cells as well as
disease-causing cells, which can result in side effects such as
gastrointestinal dysfunction, lowered blood platelet levels and
risk of hemorrhage, and profound fatigue as well as potential for
significant cardiac toxicity. Selective inhibition of HDACs is
anticipated to reduce or eliminate these often-severe side effects
associated with non-selective HDAC inhibition and to enable the
development of optimized treatment regimens, including maximally
effective combination drug therapies.
About Regenacy
Regenacy plans to develop a portfolio of compounds that
selectively regenerate intracellular transport and upregulate gene
expression to modify the course of disease and enhance therapeutic
outcomes in a broad range of indications. Regenacy’s programs will
selectively inhibit histone deacetylase 6 (HDAC6) to restore normal
protein and organelle intracellular transport in diabetic and other
peripheral neuropathies and inhibit HDACs 1 and 2 to restore oxygen
transport in orphan blood disorders such as sickle cell disease and
beta-thalassemia, regenerate normal cognitive function in patients
with psychiatric disorders, and restore normal white blood cell
function in acute myeloid leukemia (AML). www.regenacy.com
About Acetylon
Acetylon Pharmaceuticals, Inc., based in Boston, Massachusetts,
is the leader in the development of novel, selective small molecule
drugs targeting epigenetic mechanisms for the enhancement of
therapeutic outcomes in cancer and other critical human diseases.
The Company’s epigenetic drug discovery platform has yielded a
proprietary portfolio of optimized Class I and Class II histone
deacetylase (HDAC) selective compounds for oral administration.
Alteration of HDAC regulation through selective HDAC inhibition is
thought to be applicable to a broad range of diseases including
cancer, autoimmune and neurodegenerative diseases, neuropathy, and
hemoglobinopathies including sickle cell disease and
beta-thalassemia. www.acetylon.com
Forward-Looking Statements
This press release contains forward-looking statements, which
are generally statements that are not historical facts.
Forward-looking statements can be identified by the words
"expects," "anticipates," "believes," "intends," "estimates,"
"plans," "will," "outlook" and similar expressions. Forward-looking
statements are based on management's current plans, estimates,
assumptions and projections, and speak only as of the date they are
made. Acetylon and Regenacy undertake no
obligation to update any forward-looking statement in light of new
information or future events, except as otherwise required by law.
Forward-looking statements involve inherent risks and
uncertainties, most of which are difficult to predict and are
generally beyond the control of either company, including the
following: (a) the occurrence of any event, change or other
circumstance that could give rise to the termination of the
acquisition agreement; and (b) the inability to complete the
acquisition transaction or the spinout transaction due to the
failure to satisfy conditions to the acquisition transaction.
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version on businesswire.com: http://www.businesswire.com/news/home/20161202005672/en/
Regenacy:Walter C. Ogier, 617-245-1300President
and Chief Executive OfficerorMedia:MacDougall Biomedical
CommunicationsKari Watson or Casey R. Doucette, Ph.D.,
781-235-3060kwatson@macbiocom.com or cdoucette@macbiocom.com