VCs recapitalize Cleave around next-gen molecule

Cleave’s investors believe retooled cancer therapy can avoid off-target toxicity that doomed predecessor

Seven of the 10 investors in Cleave Therapeutics' existing syndicate have agreed to recapitalize the company with a new $12 million round, with which Cleave will test a second-generation cancer compound following a toxicity snag for the company's first-generation version.

Formerly known as Cleave Biosciences Inc., the protein homeostasis company had raised about $80 million since

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