Thursday, October 13, 2011

Cleave Biosciences Gets $42M For Cancer Therapies

San Francisco-based Cleave Biosciences said earlier this week that it has raised $42M in a Series A round, to support its efforts to develop biopharmaceuticals for treating cancer. The firm said the funding came from U.S. Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors, and Astellas Venture Management. Cleave's co-founders are Raymond Deshaies, Ph.D., Seth Cohen, Ph.D. and Francesco Parlati, Ph.D. The firm is headed by CEo Laura Shawver, most recently Entrepreneur in Residence at 5AM Ventures, and CEo of Phenomix Corporation and President of SUGEN Inc. More information »