Crossbow Therapeutics announces $80M Series A funding round

Crossbow Therapeutics announced an $80M Series A funding round led by MPM BioImpact and Pfizer Ventures (PFE), with participation from Polaris Partners, BVF Partners, Eli Lilly and Company (LLY), Mirae Asset Venture Investment, and Mirae Asset Capital. The Series A financing will allow Crossbow to advance the development of novel therapies that potently target peptide-loaded major histocompatibility complexes on cancer cells, using antibodies that mimic T-cell receptors. Crossbow’s development process starts with the identification, validation, and prioritization of the most promising cancer-specific targets. Using proprietary technology, the company then develops TCR-mimetic antibodies with both high affinity and specificity for cancer cells. Crossbow incorporates these TCR-mimetics into off-the-shelf, easy-to-assemble T-cell engagers and other immunotherapies. The resulting products, known as T-Bolt molecules, can be adapted to address a broad range of cancers. Crossbow can leverage this innovative approach to potently target the entire universe of cancer proteins.