Cleave Biosciences Raises $42 Million in Series A Financing for Novel Cancer... (most likely to benefit and increase the ...)

Cleave Biosciences Raises $42 Million in Series A Financing for Novel Cancer Therapies

Date:10/11/2011

most likely to benefit and increase the probability of success in the clinic.

"We know too much about the biology of cancer to continue to treat each patient without regard for the unique molecular characteristics of their individual tumor, leaving them vulnerable to disease recurrence," said Laura Shawver, Ph.D., Chief Executive Officer of Cleave Biosciences. "We foresee a future when the majority of cancer patients will be treated based on the molecular profile of their tumors, regardless of whether the cancer invades the lung, pancreas, liver or elsewhere. We believe this therapeutic approach ultimately stacks the odds in favor of the patient, the physician, as well as the payor."

Dr. Shawver has more than 25 years of experience in the development of small molecule drugs for cancer and other serious diseases. Prior to joining Cleave Biosciences, she spent the last year as an Entrepreneur in Residence at 5AM Ventures. Previously Dr. Shawver was CEO of Phenomix Corporation and President of SUGEN Inc. (acquired by Pharmacia), the company that uncovered key molecular pathways of cancer and developed the drugs Sutent™ and Palladia™. Dr. Shawver was also employed at Berlex Biosciences, formerly known as Triton Biosciences. She is the Founder of The Clearity Foundation, a not-for-profit organization dedicated to providing access to molecular profiling for ovarian cancer patients to optimize their treatment options.

Dr. Rolfe has over 20 years of industry experience in oncology drug discovery and development and is a recognized expert in the field of protein homeostasis. Before joining Cleave Biosciences, he spent a year at CytomX Therapeutics as Chief Scientific Officer and a year at Facet Biotech in the same role as well as interim Chief Medical Officer until its successful acquisition by Abbott Laboratories. Prior to joining Facet, Dr. Rolfe served as Vice President, Oncology Discovery at Millennium Pharmaceuticals where
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