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Burlingame-Based Cleave Raises $10 Million from NEA

Cleave Biosciences, a Burlingame-based developer of drugs targeting difficult-to-treat cancers, said on Tuesday it has landed a new $10 million investment from New Enterprise Associates (NEA), increasing its first round to $54 million. The company announced the first $44 million tranche in late 2011, with investors including US Venture Partners, 5AM Ventures, Clarus Ventures, OrbiMed Advisors, Astellas Venture Management and Osage University Partners. Robert Garland, a partner at NEA, has joined the company's board of directors.

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