Crossbow Therapeutics announced it has raised $77 million in a Series B financing to advance the development of its TCR-mimetic antibody therapies designed to treat a broad range of cancers. The funding round was co-led by Taiho Ventures and Arkin Bio Capital, with participation from several new and existing 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 company plans to use the proceeds to complete the Phase 1 CROSSCHECK-001 clinical trial of its lead candidate, CBX-250, and to accelerate development of additional therapies within its T-Bolt platform. CBX-250 is a first-in-class T-cell engager targeting peptide human leukocyte antigen specific to myeloid cancer cells and is currently being evaluated in patients with relapsed or refractory myeloid malignancies, including acute myeloid leukemia, chronic myeloid leukemia, myelodysplastic syndromes, and chronic myelomonocytic leukemia. Initial clinical data from this trial is expected by the end of 2026.
In addition to CBX-250, the financing will support the advancement of CBX-663, another first-in-class T-cell engager targeting a telomerase reverse transcriptase-derived peptide HLA complex. The company plans to submit an Investigational New Drug application and initiate a Phase 1 clinical trial for CBX-663 in the third quarter of 2026, targeting both hematologic and solid tumors.
Crossbow is developing a portfolio of T-cell engager therapies that use antibodies designed to mimic T-cell receptors, enabling them to target intracellular cancer proteins that have historically been difficult to reach with conventional antibody therapies. Its T-Bolt platform is designed to expand the reach of immunotherapy across a wide range of malignancies.
As part of the financing, Taiho Ventures President and CEO Sakae Asanuma and Arkin Bio Capital Managing Partner Pini Orbach have joined Crossbow’s board of directors. The company also plans to present preclinical and translational data on both CBX-250 and CBX-663 at the American Association for Cancer Research 2026 Annual Meeting in April.
KEY QUOTES
“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. We greatly appreciate our investors for sharing our conviction in the transformative potential of our T-Bolt platform. We look forward to efficiently expanding our pipeline to address cancers that remain beyond the reach of today’s therapies.”
Briggs Morrison, M.D., Chief Executive Officer of Crossbow Therapeutics
“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. 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.”
Sakae Asanuma, President & CEO of Taiho Ventures and Crossbow Board Member
