Crossbow Therapeutics, Inc., a biotechnology company developing a new class of antibody therapies that are effective and effective for treating various types of cancer, has announced an $80 million Series A funding.
The round was 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 funding will enable Crossbow to advance the development of new therapeutics potentially targeting peptide-loaded major histocompatibility complexes (pMHCs) in cancer cells, using antibodies that mimic T-cell receptors (TCR mimetics).
Crossbow’s development process begins with the identification, validation, and prioritization of the most promising cancer-specific targets. Using proprietary technology, the company then developed a TCR-mimetic antibody with high affinity and specificity for cancer cells. Crossbow incorporates these TCR-mimetics into ready-to-use, easy-to-assemble T-cell binders and other immunotherapies.
The resulting product, known as the T-Bolt molecule (short for “tumor-bolt”), can be adapted to treat many types of cancer. Crossbow can leverage this innovative approach to potentially target the entire world of cancer proteins.
“We aim to cure cancer,” said Briggs Morrison, CEO of Crossbow Therapeutics.
“With unparalleled accuracy and potency, our revolutionary T-Bolt product strikes cancer cells like an arrow shooting a bolt at its target. The additional capital inflow allows us to increase our efforts to build an arsenal of TCR-mimetic-based immunotherapies designed to overcome the limitations of current treatments.”
“Our continued investment in Crossbow Therapeutics reflects our belief in a differentiated team approach to broaden the reach of targeted immunotherapy broadly,” added Todd Foley, managing director of MPM BioImpact and co-founder and chairman of Crossbow’s board of directors.
Crossbow was founded, seeded, and incubated at MPM BioImpact by Patrick Baeuerle, Foley, and Geraldine Paulus, who has joined the company as vice president of company development and operations.