Financing co-led by Taiho Ventures and Arkin Bio Capital with significant participation from other new and existing investors
Investment enables continued clinical development of T-Bolt™ therapies, including completion of CBX-250 Phase 1 trial and initiation of CBX-663 clinical trial
Preclinical and translational updates on both programs to be presented at the American Association for Cancer Research (AACR) 2026 Annual Meeting
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Crossbow Therapeutics, Inc., a biotechnology company developing a novel class of potent and precise antibody therapies to treat a broad range of cancers, today announced it has raised $77 million in a Series B financing that will support the completion of the CROSSCHECK-001 Phase 1 clinical trial of the company’s lead program, CBX-250, and accelerate development of additional T-Bolt™ immunotherapies designed to extend the reach of antibody therapy across a broad range of cancers.
This Series B financing was co-led by Taiho Ventures and Arkin Bio Capital, with 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 financing, Sakae Asanuma, President & CEO of Taiho Ventures, and Pini Orbach, Managing Partner of Arkin Bio Capital, have joined Crossbow’s Board of Directors.
Crossbow is developing a broad portfolio of novel T-cell engager (TCE) therapies that potently target peptide human leukocyte antigen (pHLA) on cancer cells, using antibodies that mimic T-cell receptors (TCR-mimetics). These investigational products, known as T-BoltTM molecules, can be adapted to address a broad range of malignancies, potentially targeting the entire universe of cancer proteins.
“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. “We greatly appreciate our investors for sharing our conviction in the transformative potential of our T-BoltTM platform. We look forward to efficiently expanding our pipeline to address cancers that remain beyond the reach of today’s therapies.”
The Series B financing will allow Crossbow to complete a Phase 1 clinical trial of CBX-250, Crossbow’s first-in-class TCE therapy, which targets a pHLA specific to myeloid cancer cells. The ongoing Phase 1 study (CROSSCHECK-001) is evaluating CBX-250 in patients with relapsed and refractory myeloid malignancies including acute myeloid leukemia (AML), chronic myeloid leukemia (CML), myelodysplastic syndromes (MDS), and chronic myelomonocytic leukemia (CMML). Initial clinical data from the CROSSCHECK-001 trial are expected around the end of 2026.
The financing will also enable submission of an Investigational New Drug (IND) application and initiation of a Phase 1 trial of CBX-663, a first-in-class TCE targeting a telomerase reverse transcriptase (TERT)-derived pHLA for the treatment of multiple hematologic and solid tumors. The initiation of the Phase 1 study evaluating CBX-663 is projected for Q3 2026.
Crossbow researchers will present preclinical findings for CBX-250 in myeloid malignancies as well as the characterization of CBX-663 in models of solid tumors at the upcoming American Association for Cancer Research (AACR) 2026 Annual Meeting in San Diego, Calif., which takes place April 17-22, 2026.
“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,” commented Sakae Asanuma, President & CEO of Taiho Ventures 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. We are excited to continue supporting Crossbow as it advances its lead programs into the clinic.”
About Crossbow Therapeutics, Inc.
Crossbow Therapeutics, Inc., is a biotechnology company determined to improve the lives of people with cancer by unlocking the therapeutic potential of T-cell receptor (TCR)-mimetic antibodies. The company’s T-BoltTM therapies are next-generation, easily assembled immunotherapies directed with high precision at previously unreachable cancer cell targets. Crossbow’s efficient and selective approach is designed to target the entire universe of cancer proteins, dramatically expanding the potential of antibody therapy to address many types of cancer.
AACR 2026 Annual Meeting presentation details:
CBX-250 (Oral Presentation)
- Title: Preclinical evaluation and safety of CBX-250 in acute myeloid leukemia: A bispecific T cell engager targeting Cathepsin-G peptide/HLA Complex (abstract #4056)
- Presenting Author: Jennifer Helble, PhD
- Session Title: Advances in Therapeutic Antibodies
- Presentation Date/Time/Location: Monday Apr. 20, 2026, 3:50PM-4:05PM PDT, San Diego Convention Center - Ballroom 20 CD (Upper Level)
- Full text of the abstract is available here.
CBX-663 (Poster Presentation)
- Title: CBX-663, a first-in-class TCR-mimetic T-Cell Engager targeting the TERT peptide-HLA complex, mediates potent cytotoxicity in vitro and tumor inhibition in vivo in preclinical models of solid malignancies (abstract #1635)
- Session Title: T Cell Engagers 1
- Session Date/Time/Location: Monday Apr. 20, 2026, 9:00AM-12:00PM PDT, San Diego Convention Center, Poster Section 10, Poster Board Number 27
- Full text of the abstract is available here.
For additional details on the CROSSCHECK-001 Phase 1 trial, visit https://clinicaltrials.gov/study/NCT06994676.
For more information about Crossbow Therapeutics, visit www.crossbowtx.com.
About Taiho Ventures, LLC
Taiho Ventures, LLC is a strategic corporate venture capital arm of Taiho Pharmaceutical Co., Ltd., a Japanese specialty pharma focusing on oncology, allergy and immunology. Taiho Ventures is looking at early-stage preclinical oncology companies as well as platform technology companies for our core therapeutic areas. Taiho Ventures will review a wide variety of modalities, including both biologics and small molecules. The company will also consider option-type investments and spin-outs, in addition to the pure equity investments. For more information about Taiho Ventures, please visit https://www.taihoventures.com/.
About Arkin Bio Capital
Arkin Bio Capital is a global biotech fund dedicated to supporting clinical stage biotech companies approaching proof of concept in patients. Arkin Bio Capital leads investments alongside top global partners, driving robust growth and impactful advancements. Our team has a strong background in biopharmaceuticals, drug development, business development, and management, with a proven track record. Arkin Bio Capital seeks to invest in companies with innovative therapeutic candidates and experienced managements and is committed to nurturing promising opportunities and ensuring the success of each investment. For more information about Arkin Bio Capital, please visit https://arkin-capital.com/bio/.
Contacts
Investor Contact:
Crossbow Therapeutics, Inc.
Geraldine Paulus, Co-Founder, Senior Vice President and Head of Corporate Development and Business Operations
Geraldine.Paulus@crossbowtx.com
Media Contact:
SmithSolve
Alex Van Rees
Alex.VanRees@smithsolve.com
