The funding 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.
According to the company, the Series A financing will allow 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).
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 is aiming to leverage this ‘innovative’ approach to potently target the entire universe of cancer proteins.
Briggs Morrison, CEO of Crossbow Therapeutics, said: “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.”
Irena Melnikova, partner at Pfizer Ventures and member of the Crossbow Board of Directors, added: “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.”
Crossbow was founded, seeded, and incubated at MPM BioImpact by Patrick Baeuerle, Todd Foley and Geraldine Paulus, who has since joined the company as its vice president of corporate development and operations.
