Cleave Therapeutics appointed Amy Burroughs to serve as its CEO. The San Francisco drug developer also announced $12 million in financing to advance cancer drug candidate CB-5339 through Phase 1 testing in acute myeloid leukemia. The financing was led by 5AM Ventures, Celgene (NASDAQ: CELG), Orbimed, U.S. Venture Partners, Arcus Ventures, Astellas Venture Management, and Osage University Partners.
Burroughs was most recently executive in residence at 5AM ventures. In other moves, Cleave named Scott Harris its chief operating officer. Harris most recently held executive positions at CoA Therapeutics and Navire Pharma, subsidiaries of BridgeBio Pharma (NASDAQ: BBIO). Originally named Cleave Biosciences, the company emerged in 2011 backed by $42 million in Series A funding.