Navigation Links
Cleave Biosciences Adds New Investor and $10 Million to Series A Financing
Date:4/9/2013

SAN FRANCISCO, April 9, 2013 /PRNewswire/ -- Cleave Biosciences announced today it has raised $10 million in an extension of its Series A financing from new investor New Enterprise Associates (NEA), bringing its Series A total to $54 million. In the fall of 2011, Cleave raised $44 million from US Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors, Astellas Venture Management and Osage University Partners to fund the biopharmaceutical company's cancer drug discovery and development. In conjunction with the financing, NEA partner Robert Garland , M.D., has joined Cleave's board of directors. Cleave will use the funds to move its lead program into clinical trials and advance its second discovery program.

Cleave is discovering novel drugs that affect protein degradation pathways. Cancer cells frequently make an excess of proteins and hence become dependent on protein degradation for their survival. By attacking key targets in these pathways, cancer cells fail to balance this excess protein synthesis with protein degradation and can no longer survive.

"The targets Cleave is pursuing have the potential to have wide therapeutic impact for people who have cancers dependent on protein degradation for their survival," said Laura Shawver , Ph.D., chief executive officer of Cleave Biosciences. "NEA joins us at an exciting time as we continue our progress to identify clinical candidates, as well as determine which subsets of cancers can best be addressed using the Cleave strategy."

"Cleave's approach of attacking cancer heterogeneity has rapidly moved from an academic idea to preclinical proof-of-concept and there's a reasonably high probability that the company's development programs will result in new therapeutics for patients with difficult-to-treat tumors," said Larry Lasky , Ph.D., partner at US Venture Partners and Cleave director.

Cleave's lead program is discovering small molecules that target p97, a central player in the ubiquitin proteasome and autophagy pathways that are intimately involved in controlling protein degradation. Targeting protein degradation has been validated by the commercial success of VELCADE® (bortezomib) and KYPROLIS® (carfilzomib) in multiple myeloma. P97 inhibition is a novel approach that has the potential to treat a wide range of cancers.

"Cleave Biosciences has made substantial progress in identifying and optimizing small molecules against a number of novel targets and is progressing its lead program toward the clinic," said Dr. Garland. "We are pleased to join Cleave's investor syndicate to help fuel the company's momentum."

Dr. Garland and his colleagues at NEA, one of the world's largest and most active venture capital firms, have a long track record of partnering with companies that have pioneered transformative innovations in healthcare. Prior to NEA, in addition to clinical practice at the University of California, San Francisco (UCSF), Dr. Garland was with McKinsey & Company's Pharmaceutical & Medical Products and Corporate

Finance & Strategy practices. Dr. Garland completed his Residency in Internal Medicine and Fellowship in Infectious Diseases at UCSF, and received his M.B.A. and M.P.H. from the University of California, Berkeley, his M.D. from Baylor College of Medicine and his B.S. in Electrical Engineering/Bioengineering from Rice University.

About Cleave Biosciences

Cleave Biosciences is discovering and developing novel small molecule therapies for difficult-to-treat cancers. Cleave has amassed deep expertise and developed first-in-class drug candidates against novel targets in protein degradation pathways, including the ubiquitin proteasome and autophagy systems. Cleave is using molecular profiling approaches with the goal of identifying patient subsets most likely to benefit from each of its targeted drugs. Cleave is privately held and located in Burlingame, California. For additional information, visit www.cleavebio.com.


'/>"/>
SOURCE Cleave Biosciences
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Pressure BioSciences, Inc. and Target Discovery, Inc. Expand Strategic License Agreement and Collaboration Supporting TDIs Planned Offering of Personalized Medicine Clinical Diagnostic Services
2. Neurocrine Biosciences Announces Conference Call and Webcast to Present First Quarter 2012 Financial Results
3. Amarantus BioSciences to Present at the New York Biotechnology Association (NYBA) 21st Annual Meeting on May 2nd, 2012
4. Neurocrine Biosciences Reports First Quarter 2012 Results
5. Pressure BioSciences, Inc. to Discuss First Quarter 2012 Financial Results And Provide Business Update
6. Ambit Biosciences and Teva Announce Clearance of an Investigational New Drug (IND) Application for CEP-32496, A Novel BRAF(V600E) Inhibitor
7. Neurocrine Biosciences to Present at the Jefferies 2012 Global Healthcare Conference
8. 3-V Biosciences To Present at the Seventh Annual JMP Securities Healthcare Conference
9. Sofie Biosciences receives $1M Phase II SBIR grant from the DOE
10. Frost & Sullivan 2012 New Product Innovation in Bioanalytics Awarded to Protea Biosciences
11. Pressure BioSciences Patented PCT Platform Shown to Significantly Improve Protein and DNA Detection in Multiple Studies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... ATLANTA , Feb. 10, 2016  LexisNexis® ... and technology, today announced the launch of ... analytics solution that helps improve and optimize the ... evaluation of performance using severity-adjusted scores. By measuring ... a critical solution to deliver better outcomes, improve ...
(Date:2/10/2016)... , Feb. 10, 2016 Mast ... developing novel, clinical-stage therapies for sickle cell disease and ... public offering of 29,090,910 units at a price to ... of one share of the Company,s common stock and ... common stock at an exercise price of $0.42 per ...
(Date:2/10/2016)... , Feb. 10, 2016 ALSP, Inc. announced ... MD as Consultant for Medical Affairs in preparation for its ... Michael Pierschbacher , PhD, CEO, stated, "We are pleased to ... look forward to working with an individual of such practical ... look forward to drawing deeply on his broad experience and ...
Breaking Medicine Technology:
(Date:2/10/2016)... ... ... Dr. Jessica Barron, of Barron Family Dental in Thornton, Colorado , is ... the North Metro Denver area. The new dental practice focuses on comfort where patients ... the most relaxing environment. , While some dental visits can create anxiety for patients, ...
(Date:2/10/2016)... ... 2016 , ... United Benefit Advisors (UBA), the nation’s leading ... its growing list of Partner Firms. S.S. Nesbitt is headquartered in Birmingham, ... and in between. , Harnessing the experience and insights of the agency’s team ...
(Date:2/10/2016)... ... February 10, 2016 , ... Armune BioScience signed a definitive agreement ... laboratory service centers across the country. Launched in April of 2015, Apifiny is the ... prostate cancer. Apifiny order volume exceeded 3,000 tests in 2015. Primary care physicians and ...
(Date:2/10/2016)... ... 2016 , ... For additional information contact Phyllis Strupp 480-488-5858 , Brain improves ... The Ultimate Guide to Brain Training" by award-winning author Phyllis Strupp explains ... is March 16, 2016. A free review copy is available to the media ...
(Date:2/10/2016)... , ... February 10, 2016 , ... ... Everseat digital self-scheduling readily available to physicians. The integration will enable ... find and select appointments via Everseat’s free mobile app. , The partnership gives ...
Breaking Medicine News(10 mins):