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VC Roundup: Cleave Raises $37m To Maintain Phase I Momentum, Plus $233.5m In Recent Financings

 
• By Mandy Jackson

Cleave Biosciences leads off a recent slate of venture capital financings with $37m to fund ongoing Phase I programs for the lead drug from its protein homeostasis-focused platform.

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Cleave Biosciences Inc. has raised a $37m Series B round to fund two ongoing Phase I clinical trials for its lead drug candidate CB-5083, initiate a third trial, and to continue its hunt for therapeutic candidates that target proteins responsible for the survival of cancer cells.

Burlingame, California-based Cleave has raised $91m in venture capital during the past five years to discover and develop drugs that target enzymes involved in protein homeostasis

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