Cleave Biosciences has raised $42 million in series A financing. The investors include U.S. Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors and Astellas Venture Management. Cleave Biosciences, a biopharmaceutical company discovering and developing novel therapies for cancer, was set up recently by Raymond Deshaies, Seth Cohen and Francesco Parlati.

The company will use the financing to support multiple small molecule discovery and development programs of protein homeostasis, at present undergoing lead identification and optimization. The directors of Cleave Biosciences include Dennis Henner, a managing partner at Clarus Ventures, Larry Lasky, partner at U.S. Venture Partners, and Andrew Schwab, managing partner at 5AM Ventures.

Click here for the release from PR Newswire.