Crossbow Therapeutics – a biotechnology company developing a novel class of potent and precise antibody therapies to treat a broad range of cancers – recently announced an $80 million Series A funding round led by MPM BioImpact and Pfizer Ventures with participation from Polaris Partners, BVF Partners, Eli Lilly and Company, Mirae Asset Venture Investment, and Mirae Asset Capital.
The Series A financing will enable Crossbow to advance the development of novel therapies that potently target peptide-loaded major histocompatibility complexes (pMHCs) on cancer cells, using antibodies that mimic T-cell receptors (TCR-mimetics). And Crossbow’s development process starts with identifying, validating, and prioritizing the most promising cancer-specific targets. The company then develops TCR-mimetic antibodies with high affinity and specificity for cancer cells using proprietary technology.
Crossbow integrates these TCR mimetics into off-the-shelf, easy-to-assemble T-cell engagers and other immunotherapies. And the resulting products, known as T-Bolt molecules (short for “tumor bolts”), can be adapted to address a broad range of cancers. Plus, Crossbow can utilize this innovative approach to target the entire universe of cancer proteins potently.
Crossbow was founded, seeded, and incubated at MPM BioImpact by Patrick Baeuerle, Ph.D.; Todd Foley; and Geraldine Paulus, Ph.D., who has since joined the company as its Vice President of Corporate Development and Operations.
The founders assembled an international, collaborative, and passionate team with unmatched experience inventing and developing next-generation cancer therapies. As Chief Executive Officer, Dr. Briggs Morrison brings over 30 years of pharmaceutical and biotechnology industry experience, having previously served in executive roles at Syndax Pharmaceuticals, AstraZeneca, Pfizer, and Merck. Dmitri Wiederschain, Ph.D., recently joined the company as Chief Scientific Officer after previous leadership roles at Jounce Therapeutics, Sanofi, and Novartis.
KEY QUOTES:
“We aim to cure cancer. With unparalleled accuracy and potency, our revolutionary T-Bolt products strike cancer cells like a crossbow shoots bolts at its target. The influx of additional capital enables us to scale our efforts to build an arsenal of TCR-mimetic-based immunotherapies designed to overcome the limitations of current treatments.”
— Briggs Morrison, M.D., Chief Executive Officer of Crossbow Therapeutics
“Our continued investment in Crossbow Therapeutics reflects our confidence in the team’s differentiated approach to vastly expand the range of targets for immunotherapies.”
— Todd Foley, Managing Director of MPM BioImpact and Co-Founder and Chair of the Crossbow Board of Directors
“We are impressed by the strong foundation Crossbow has built and world-class team it put together. We are excited to support the company in its efforts to transform cancer care with its innovative and far-reaching T-Bolt therapies.”
— Irena Melnikova, Partner at Pfizer Ventures and Member of the Crossbow Board of Directors.
