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Cleave brings in $37mm through Series B round
09 Aug 2016
Executive Summary
Cleave Biosciences Inc. (developing protein homeostasis inhibitors for cancer) raised $37mm through its Series B round. New investors Celgene, Nextech Invest, and Arcus Ventures were joined in the round by returning backers 5AM Ventures, Clarus Ventures, New Enterprise Associates (NEA), Orbimed Advisors, US Venture Partners, Astellas Venture Management, and Osage University Partners. Nextech and NEA also took board seats. Funds will support lead candidate CB5083, in Phase I trials for relapsed/refractory multiple myeloma and advanced solid tumors, and will also fund continued work with Cleave's AAA ATPase discovery platform.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Cleave brings in $37mm through Series B round
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