Cambridge biotech Acceleron reveals staff cuts
Acceleron Pharma Inc., a Cambridge biotechnology company, has told the state it cut 57 employees, or roughly 40 percent of its workforce, late last month.
The privately held company, which had more than 140 workers prior to the layoffs, is backed by an array of investors, including Advanced Technology Ventures, Alkermes, Bessemer Ventures, Celgene, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures, and Venrock.
The company is developing novel therapies to treat musculoskeletal, metabolic, and cancer-related diseases. It currently has two drugs in mid-stage clinical trials, including one to treat anemia and another to treat Duchenne Muscular Dystrophy.