Cleave Therapeutics is advancing therapies that target valosin-containing protein (VCP/p97) to modulate protein homeostasis and stress pathways in cancer and neurodegeneration. Its lead candidate, CB-5339, is a potent, oral, selective, second‑generation VCP/p97 inhibitor described as IND‑ready and designed to address exposure and selectivity limitations of earlier compounds. The company is initiating a Phase 1 clinical study in acute myeloid leukemia (AML). The National Cancer Institute plans to sponsor a Phase 1 trial of CB-5339 in solid tumors in collaboration with Cleave. Cleave announced the closing of a $12 million equity financing to advance CB-5339 through early clinical development. The company also announced executive appointments including Amy Burroughs as CEO, Scott Harris as COO, and Laura Shawver as board chair. Cleave Biosciences develops drugs that target protein homeostasis, with a lead program CB-5083—an oral inhibitor of p97—aimed at treating a range of solid tumors and hematologic malignancies. CB-5083 is being evaluated in two Phase 1 trials: CLC-101 for patients with solid tumors and CLC-102 for patients with lymphoid hematologic malignancies including multiple myeloma. The program has received Orphan Drug Designation from the U.S. FDA for multiple myeloma. The company intends to use the Series B proceeds to advance clinical development of CB-5083 and to support discovery efforts around its AAA ATPase platform. Laura Shawver, Ph.D., serves as CEO and the company is based in Burlingame, California. Cleave Biosciences discovers small-molecule drugs that modulate protein degradation pathways, with a lead program targeting p97, a central player in the ubiquitin–proteasome and autophagy systems. The company is led by CEO Laura Shawver, Ph.D. Cleave plans to use new capital to move its lead program into clinical trials and to advance a second discovery program. Financially, the company has been funded through venture rounds and this financing increased its Series A to $54M. In 2011 Cleave raised $44M from investors including US Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors, Astellas Venture Management and Osage University Partners. The recent financing also added New Enterprise Associates as an investor and included a board appointment. Cleave Biosciences is a newly established biopharmaceutical company based in Burlingame, California, focused on discovering and developing novel cancer therapies directed at protein homeostasis. Its current programs are small-molecule discovery and development efforts that are undergoing lead identification and optimization. The company plans to use the Series A proceeds to support multiple discovery and development programs in this area. Cleave was co-founded by Raymond Deshaies, Seth Cohen and Francesco Parlati. Its management team includes CEO Laura Shawver and President and CSO Mark Rolfe. In conjunction with the financing, several investors and company leadership will join the board.

Total raised

$101M

Funding rounds

4

Latest round

Equity

Latest activity

Aug 2019