Crossbow Therapeutics has successfully secured $77 million in a Series B financing round to advance its novel antibody therapies for cancer. The funding, co-led by Taiho Ventures and Arkin Bio Capital, will propel the clinical development of its lead programs. This capital infusion is earmarked to complete a Phase 1 trial for CBX-250 and initiate clinical studies for its second candidate, CBX-663.
Strategic Investment and Leadership
The financing round attracted a strong syndicate of new and existing investors, including MPM BioImpact, Pfizer Ventures, and BVF Partners. As part of the investment, Sakae Asanuma of Taiho Ventures and Pini Orbach of Arkin Bio Capital will join Crossbow's Board of Directors. Their appointments underscore the significant confidence investors have in the company's technology and strategic direction.
Advancing a Novel Therapeutic Platform
Crossbow is pioneering a new class of treatments with its T-Bolt™ platform, which develops T-cell engagers that mimic T-cell receptors. These therapies are designed to target peptide human leukocyte antigen complexes on cancer cells, unlocking previously unreachable intracellular targets. This innovative approach holds the potential to address a wide spectrum of malignancies that are resistant to current treatments.
Chief Executive Officer Dr. Briggs Morrison stated that the financing strengthens the company's ability to move CBX-250 through clinical development. He emphasized the mission to deliver next-generation immunotherapies to patients who urgently require new therapeutic options. Morrison expressed gratitude to investors for their shared belief in the transformative potential of the T-Bolt™ platform.
Clinical Development and Pipeline Expansion
The funding will primarily support the completion of the CROSSCHECK-001 Phase 1 trial for the company’s lead candidate, CBX-250. This first-in-class therapy targets a specific marker on myeloid cancer cells in patients with conditions like acute myeloid leukemia. The company anticipates releasing initial clinical data from this important study around the end of 2026.
In addition to its lead program, Crossbow will use the funds to accelerate the development of CBX-663. This therapy targets a TERT-derived protein complex found in multiple hematologic and solid tumors, broadening its potential impact. The company plans to submit an Investigational New Drug application and begin a Phase 1 trial for CBX-663 in the third quarter of 2026.
Upcoming Scientific Disclosures
Crossbow is set to present key preclinical findings at the upcoming American Association for Cancer Research 2026 Annual Meeting. Researchers will share data on CBX-250's efficacy in myeloid malignancies and the characterization of CBX-663 in solid tumor models. These presentations will offer the scientific community a deeper look into the company's promising therapeutic candidates.
This substantial $77 million financing round marks a pivotal moment for Crossbow Therapeutics, enabling critical progress in its clinical pipeline. With strong investor backing and a differentiated platform, the company is well-positioned to advance its innovative TCR-mimetic therapies. The development of the T-Bolt™ platform could ultimately offer new hope for patients battling a wide range of cancers.