Crossbow Therapeutics, a Cambridge, MA-based biotechnology company developing antibody therapies to treat a broad range of cancers, has raised $77 million in a Series B funding round led by Taiho Ventures and Arkin Bio Capital.
The round also saw participation from new investors Sixty Degree Capital, Hamilton Square Partners Management LP, LifeLink Ventures, Libbs Ventures, and Blood Cancer United’s Therapy Acceleration Program (TAP), as well as existing investors MPM BioImpact, Pfizer Ventures, BVF Partners, Polaris Partners, Eli Lilly and Company, and Mirae Asset Venture Investment.
As part of the funding, Sakae Asanuma, President and CEO of Taiho Ventures, and Pini Orbach, Managing Partner of Arkin Bio Capital, joined Crossbow’s Board of Directors.
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The company plans to use the funds to grow its operations and research and development efforts.
Crossbow Therapeutics, Inc. is a biotechnology company developing a new class of precise, powerful antibody therapies for various cancers. The company is developing T-cell engager (TCE) therapies, called T-Bolt™ molecules, that target the peptide human leukocyte antigen (pHLA) on cancer cells using antibodies that mimic T-cell receptors (TCR-mimetics). These therapies can potentially be adapted to treat a wide range of cancers.
The Series B funding will allow Crossbow to complete a Phase 1 trial of CBX-250, its first-in-class TCE therapy targeting a pHLA specific to myeloid cancer cells. The ongoing CROSSCHECK-001 study is testing CBX-250 in patients with relapsed or refractory myeloid malignancies, including AML, CML, MDS, and CMML. Initial results are expected by the end of 2026.
The funding will also support filing an IND application and initiating a Phase 1 trial of CBX-663, a TCE targeting a TERT-derived pHLA for the treatment of multiple blood and solid tumors. This trial is expected to begin in Q3 2026.
Crossbow will present preclinical data for CBX-250 in myeloid cancers and CBX-663 in solid tumor models at the AACR 2026 Annual Meeting in San Diego, California, from April 17–22, 2026.
“This funding strengthens our ability to advance CBX-250 in clinical development and speeds up our mission to deliver next-generation TCR-mimetic immunotherapies to patients in need,” said Briggs Morrison, M.D., CEO of Crossbow Therapeutics. “We thank our investors for believing in the potential of our T-Bolt™ platform and look forward to expanding our pipeline to tackle cancers that current therapies cannot reach.”
“Crossbow’s T-cell engagers offer a unique and promising approach to cancer immunotherapy by targeting a wide range of intracellular proteins and expanding the potential of TCE therapies,” said Sakae Asanuma, President & CEO of Taiho Ventures and Crossbow board member. “With its experienced team and versatile platform, the company is well-positioned to improve on current treatments and help patients in need. We’re excited to continue supporting Crossbow as it moves its lead programs into clinical trials.”
About Crossbow Therapeutics
Founded in 2021 by Geraldine Paulus, Crossbow Therapeutics, Inc. is a biotechnology company focused on improving the lives of people with cancer by harnessing T-cell receptor (TCR)-mimetic antibodies. Its T-Bolt™ therapies are next-generation immunotherapies that precisely target previously unreachable cancer cell proteins. Crossbow’s approach targets a wide range of cancer proteins, greatly expanding the potential of antibody therapies to treat many cancer types.
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