CAMBRIDGE, Mass. — Crossbow Therapeutics, Inc. has raised $77 million in a Series B financing round to support the clinical development of its lead cancer therapy programs and expand its pipeline of TCR-mimetic antibody treatments.
The financing was co-led by Taiho Ventures and Arkin Bio Capital, with participation from new investors including Sixty Degree Capital, Hamilton Square Partners Management LP, LifeLink Ventures, Libbs Ventures, and Blood Cancer United’s Therapy Acceleration Program®, along with existing backers such as MPM BioImpact, Pfizer Ventures, BVF Partners, Polaris Partners, Eli Lilly and Company, and Mirae Asset Venture Investment. As part of the deal, Sakae Asanuma, President & CEO of Taiho Ventures, and Pini Orbach, Managing Partner of Arkin Bio Capital, have joined Crossbow’s Board of Directors.
The company said the funding will help complete the Phase 1 CROSSCHECK-001 trial of its lead candidate, CBX-250, and support the advancement of additional T-Bolt™ immunotherapies designed to expand the reach of antibody-based cancer treatments.
Crossbow is developing T-cell engager therapies that target peptide human leukocyte antigen (pHLA) on cancer cells using antibodies that mimic T-cell receptors. These therapies, known as T-Bolt molecules, are designed to address a wide range of malignancies by targeting intracellular cancer proteins.
“This financing not only strengthens our ability to advance CBX-250 through clinical development but also accelerates our mission to bring next-generation TCR-mimetic immunotherapies to patients who urgently need new options,” said Briggs Morrison, M.D., Chief Executive Officer of Crossbow Therapeutics. “We greatly appreciate our investors for sharing our conviction in the transformative potential of our T-BoltTM platform. We look forward to efficiently expanding our pipeline to address cancers that remain beyond the reach of today’s therapies.”
CBX-250, a first-in-class T-cell engager therapy, is currently being evaluated in patients with relapsed and refractory myeloid malignancies, including acute myeloid leukemia, chronic myeloid leukemia, myelodysplastic syndromes, and chronic myelomonocytic leukemia. Initial clinical data from the Phase 1 trial are expected by the end of 2026.
The funding will also support the development of CBX-663, another investigational T-cell engager targeting a telomerase reverse transcriptase-derived pHLA, with plans to submit an Investigational New Drug application and initiate a Phase 1 trial in the third quarter of 2026.
Crossbow said it will present preclinical data on both CBX-250 and CBX-663 at the American Association for Cancer Research 2026 Annual Meeting in San Diego, scheduled for April 17–22.
“Crossbow’s arsenal of T-cell engagers represents a differentiated and promising approach to anti-cancer immunotherapy by addressing the wide variety of intra-cellular targets and broadens the potentials of TCE modality,” said Sakae Asanuma, President & CEO of Taiho Ventures and a member of Crossbow’s board. “The company’s experienced team and versatile platform position it to overcome the limitations of current treatments and deliver impact for patients in need. We are excited to continue supporting Crossbow as it advances its lead programs into the clinic.” (Source: IANS)
