Crossbow Therapeutics Secures $77 Million Series B to Advance TCR-Mimetic Cancer Immunotherapies
Key Insights
Crossbow Therapeutics (search) raised $77 million in Series B financing co-led by Taiho Ventures (search) and Arkin Bio Capital (search) to advance its novel T-cell engager therapies targeting previously unreachable cancer (search) proteins.
The funding will complete the Phase 1 CROSSCHECK-001 trial of CBX-250 for myeloid malignancies and initiate a Phase 1 trial of CBX-663 (search) targeting telomerase reverse transcriptase (search) for multiple tumor types.
The company's T-Bolt platform uses TCR-mimetic antibodies to target peptide-HLA complexes on cancer (search) cells, potentially expanding antibody therapy across a broad range of malignancies.
Crossbow Therapeutics (search) announced the completion of a $77 million Series B financing round that will advance the biotechnology company's novel T-cell receptor (TCR)-mimetic antibody platform through critical clinical milestones. The financing, co-led by Taiho Ventures (search) and Arkin Bio Capital (search), represents a significant investment in the company's innovative approach to cancer (search) immunotherapy that targets previously unreachable intracellular proteins.
The funding round included participation from new investors Sixty Degree Capital, Hamilton Square Partners Management LP, LifeLink Ventures, Libbs Ventures, and Blood Cancer (search) United's Therapy Acceleration Program, alongside existing investors MPM BioImpact, Pfizer Ventures (search), BVF Partners, Polaris Partners, Eli Lilly and Company, and Mirae Asset Venture Investment. As part of the financing, Sakae Asanuma, President & CEO of Taiho Ventures (search), and Pini Orbach, Managing Partner of Arkin Bio Capital (search), joined Crossbow's Board of Directors.
Novel Platform Targets Entire Universe of Cancer Proteins
Crossbow is developing T-Bolt therapies, a portfolio of T-cell engager (TCE) immunotherapies that use antibodies mimicking T-cell receptors to target peptide human leukocyte antigen (search) (pHLA) complexes on cancer (search) cells. This approach potentially enables targeting of the entire universe of cancer proteins, dramatically expanding the reach of antibody therapy beyond current limitations.
"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 (search). "We greatly appreciate our investors for sharing our conviction in the transformative potential of our T-Bolt platform."
Clinical Development Milestones
CBX-250 Phase 1 Trial Completion
The Series B funding will enable completion of the ongoing CROSSCHECK-001 Phase 1 clinical trial evaluating CBX-250, Crossbow's first-in-class TCE therapy targeting a pHLA specific to myeloid cancer (search) cells. The study is enrolling patients with relapsed and refractory myeloid malignancies including acute myeloid leukemia (search) (AML), chronic myeloid leukemia (search) (CML), myelodysplastic syndromes (search) (MDS), and chronic myelomonocytic leukemia (search) (CMML). Initial clinical data from the CROSSCHECK-001 trial are expected around the end of 2026.
CBX-663 Clinical Trial Initiation
The financing will also support submission of an Investigational New Drug (IND) application and initiation of a Phase 1 trial for CBX-663 (search), a first-in-class TCE targeting a telomerase reverse transcriptase (search) (TERT)-derived pHLA for treating multiple hematologic and solid tumors. The Phase 1 study evaluating CBX-663 is projected to begin in Q3 2026.
Scientific Presentations at AACR 2026
Crossbow researchers will present preclinical findings for both programs at the American Association for Cancer (search) Research (AACR) 2026 Annual Meeting in San Diego, California, April 17-22, 2026. CBX-250 data in myeloid malignancies will be presented as an oral presentation titled "Preclinical evaluation and safety of CBX-250 in acute myeloid leukemia (search): A bispecific T cell engager targeting Cathepsin-G (search) peptide/HLA Complex." CBX-663 (search) characterization in solid tumor models will be presented as a poster presentation.
Industry Perspective
"Crossbow's arsenal of T-cell engagers represents a differentiated and promising approach to anti-cancer (search) immunotherapy by addressing the wide variety of intra-cellular targets and broadens the potentials of TCE modality," commented Sakae Asanuma, President & CEO of Taiho Ventures (search) and Crossbow board member. "The company's experienced team and versatile platform position it to overcome the limitations of current treatments and deliver impact for patients in need."
The investment reflects growing industry confidence in TCR-mimetic approaches to cancer (search) therapy, particularly those capable of targeting intracellular proteins that have historically been considered "undruggable" with conventional antibody therapies.