Pharmaceutical corporation Celgene acquired $15m worth of series B2 stock in US-based small molecule drug company Acetylon Pharmaceuticals on Thursday. Celgene will not however, hold licensing or marketing rights to drugs currently under development at Acetylon.

Acetylon closed its series B round in June having raised $27m, while its series A round raised $9.25m over two separate tranches. Acetylon has not disclosed the identity of its private equity investors but they are thought to include holding company the Kraft Group.

Acetylon bases its research around HDAC enzyme inhibitors, which it hopes to use in orally administered drugs to treat inflammatory disease, neurologic diseases and a broad range of cancers. Acetylon is looking to make use of Celgene’s commercial and clinical expertise as it aims to expand its clinical trials program in 2012.    

Mark Alles, Celgene’s chief commercial officer, said: "Our investment in Acetylon Pharmaceuticals reflects our continuing commitment to…

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