Celgene has agreed to pay Acetylon Pharmaceuticals US$100 M upfront in order to obtain an exclusive option to buy the company at a future date for at least US$500 M and potentially more than US$1.6 B. Acetylon will use the non-dilutive funding to advance its portfolio of selective HDAC (histone deacetylase) inhibitors, including its Phase I/II candidate ACY-1215 (rocilinostat) for multiple myeloma. Celgene has also formed a global R&D collaboration with Array BioPharma focused on a preclinical development programme targeting a novel inflammation pathway.