Acetylon Pharmaceuticals, Inc. announced today that it has closed on a $2
million investment from a new undisclosed private investor to bring
its total financing to $9.25 million. This new investment will convert
to stock in the next substantial round of preferred equity financing.
The Company also announced two additions to the senior management team.
Simon S. Jones, Ph.D., was appointed Vice President, Biology and
Preclinical Development and John H. van Duzer, Ph.D., was appointed Vice
President, Chemistry and Manufacturing. Acetylon is applying its
scientific expertise to the development of small molecule HDAC
inhibitors that build upon the proven therapeutic potential of HDAC
inhibition with enhanced target selectivity. The Company believes that
its highly selective HDAC inhibitors may accomplish enhanced clinical
utility by reducing or eliminating the debilitating and sometimes
life-threatening side effects associated with the current
first-generation of non-selective HDAC inhibitors. The first indications
targeted for Acetylon’s next-generation HDAC6 inhibitors are multiple
myeloma and inflammatory disorders such as rheumatoid arthritis.
“We are very pleased to receive the additional funding and excited to
benefit from the extensive industry experience that Simon and John bring
to Acetylon, as we focus on the selection of our first HDAC6 inhibitor
drug candidate for preclinical studies and ultimately an IND filing”