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Cleave Biosciences Raises $42 Million in Series A Financing for Novel Cancer Therapies
Date:10/11/2011

SAN FRANCISCO, Oct. 11, 2011 /PRNewswire/ -- Cleave Biosciences, a newly established biopharmaceutical company discovering and developing novel therapies for cancer, announced today it has raised $42 million in Series A financing. Cleave Biosciences was established by Scientific Co-Founders Raymond Deshaies, Ph.D., Seth Cohen, Ph.D. and Francesco Parlati, Ph.D.  Its management team includes Chief Executive Officer Laura Shawver, Ph.D. and President and Chief Scientific Officer Mark Rolfe, Ph.D.  Series A investors include U.S. Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors and Astellas Venture Management. The financing will support multiple small molecule discovery and development programs in the area of protein homeostasis, which are currently undergoing lead identification and optimization.

"Given the current large unmet need in oncology, developing drugs that target biological mechanisms and pathways that have so far received scant attention will be critical to helping patients. Protein homeostasis remains one of the last underexplored territories for harvesting new drugs to treat cancer," notes Larry Lasky, Ph.D., Partner at U.S. Venture Partners and Director of Cleave Biosciences.  "At Cleave Biosciences, this approach will be carried out by world-class experts in the field of oncology, as well as a management team with a strong track record in the biotech industry."

Cleave Biosciences' deep understanding of the targets that are central players in a number of cancers will be used to establish pathway-driven strategies for patient selection in clinical development. By matching its targeted drugs to subsets of patients whose tumors are regulated by the same pathways, the company will identify the patients
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SOURCE Cleave Biosciences
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