Crossbow Therapeutics Raises $77 Million in Series B Funding
Crossbow Therapeutics has successfully raised $77 million in a Series B funding round to further its mission of expanding the reach of antibody therapeutics. The company is focused on developing potent and precise therapies that target a wide range of cancer antigens.
Lead Investors and Participants
The funding round was co-led by Taiho Ventures and Arkin Bio Capital. Other participants included Sixty Degree Capital, Hamilton Square Partners Management LP, LifeLink Ventures, Libbs Ventures, Blood Cancer United’s Therapy Acceleration Program, MPM BioImpact, Pfizer Ventures, BVF Partners, Polaris Partners, Eli Lilly and Company, and Mirae Asset Venture Investment.
Company Leadership
Crossbow Therapeutics is led by CEO and President Briggs Morrison, alongside Co-Founder Geraldine Paulus. The leadership team is committed to advancing their innovative cancer therapies.
Development Focus and Use of Funds
The funds raised will be used to advance the development of Crossbow's TCR-mimetic antibody therapies. Specifically, the company plans to complete the Phase 1 CROSSCHECK-001 clinical trial of its lead candidate, CBX-250. This first-in-class T-cell engager targets myeloid cancer cells and is currently being tested in patients with relapsed or refractory myeloid malignancies, such as acute myeloid leukemia and chronic myeloid leukemia. Initial clinical data from this trial is expected by the end of 2026.
In addition to CBX-250, the financing will support the advancement of CBX-663. The company aims to submit an Investigational New Drug application and initiate a Phase 1 clinical trial for CBX-663 in the third quarter of 2026, targeting both hematologic and solid tumors.
Innovative T-Bolt Platform
Crossbow Therapeutics' T-Bolt platform is designed to expand the reach of immunotherapy across a wide range of malignancies. This platform utilizes antibodies that mimic T-cell receptors, enabling them to target intracellular cancer proteins that have been difficult to reach with conventional antibody therapies.
Board Expansion and Upcoming Presentations
As part of the financing round, Taiho Ventures President and CEO Sakae Asanuma and Arkin Bio Capital Managing Partner Pini Orbach have joined Crossbow’s board of directors. The company also plans to present preclinical and translational data on both CBX-250 and CBX-663 at the American Association for Cancer Research 2026 Annual Meeting in April.
Crossbow Therapeutics continues to push the boundaries of cancer treatment, with significant backing from a diverse group of investors. The Series B funding marks a pivotal moment in the company's journey to bring innovative cancer therapies to market.