Cleave Therapeutics clasps $12m

Aug 8, 2019 • Callum Cyrus

OUP, Celgene and Astellas Venture Management all supplied a portion of the funding to bring the Caltech-founded cancer drug developer's lifetime funding to $92m.

Cleave Therapeutics, a US-headquartered developer of cancer and neurodegenerative disease drugs based on California Institute of Technology (Caltech) research, closed a $12m series B2 round featuring spinout-focused investment firm Osage University Partners (OUP) on Tuesday.
Venture capital firm 5AM Ventures led the round, investing together with pharmaceutical firms Celgene and Astellas, the latter through its Astellas Venture Management unit, as well as private equity firm Arcus Ventures, life sciences investment firm OrbiMed and VC firm US Venture Partners (USVP).

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