Crossbow Therapeutics, Inc. has raised $77m in a Series B financing that will support the completion of the CROSSCHECK-001 phase 1 clinical trial of the company’s lead programme, CBX-250, and accelerate development of additional T-Bolt immunotherapies designed to extend the reach of antibody therapy across a broad range of cancers.
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, 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 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 leukaemia (AML), chronic myeloid leukaemia (CML), myelodysplastic syndromes (MDS), and chronic myelomonocytic leukaemia (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 tumours. 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 tumours at the upcoming American Association for Cancer Research (AACR) 2026 annual meeting in San Diego, Calif., which takes place April 17-22, 2026.