Crossbow Therapeutics Raises $77 Million in Series B Funding
Crossbow Therapeutics has successfully raised $77 million in a Series B funding round, which will be pivotal in advancing its innovative cancer treatment therapies. The company, known for its commitment to expanding the reach of antibody therapeutics, aims to revolutionize cancer treatment by developing therapies that can target a wide array of cancer antigens.
Investors and Leadership
The Series B round was co-led by Taiho Ventures and Arkin Bio Capital, with significant participation from a diverse group of investors including 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.
The leadership team at Crossbow Therapeutics includes Co-Founder Geraldine Paulus and CEO and President Briggs Morrison. Morrison expressed the importance of this funding in advancing their clinical programs and expanding their therapeutic platform.
Use of Funds
The funds raised will primarily be used to advance the development of Crossbow's TCR-mimetic antibody therapies. A key focus is on the completion of the Phase 1 CROSSCHECK-001 clinical trial for their lead candidate, CBX-250. This first-in-class T-cell engager targets a peptide human leukocyte antigen specific to myeloid cancer cells and is currently being tested in patients with relapsed or refractory myeloid malignancies, including acute myeloid leukemia and chronic myeloid leukemia. Initial data from this trial is anticipated by the end of 2026.
In addition to CBX-250, the financing will support the progress of CBX-663, another innovative T-cell engager targeting a telomerase reverse transcriptase-derived peptide HLA complex. Crossbow plans to submit an Investigational New Drug application and initiate a Phase 1 clinical trial for CBX-663 in the third quarter of 2026, aiming to treat both hematologic and solid tumors.
Future Developments
As part of their strategic development, Crossbow Therapeutics is set to present preclinical and translational data on both CBX-250 and CBX-663 at the 2026 Annual Meeting of the American Association for Cancer Research in April. This presentation will provide insights into the progress and potential of their T-Bolt platform, which is designed to broaden the reach of immunotherapy across various malignancies.
With this significant investment, Crossbow Therapeutics is well-positioned to continue its mission of developing precise and potent cancer therapies, potentially transforming the landscape of cancer treatment.