Crossbow Therapeutics, a Cambridge, MA-based biotechnology company developing a novel class of antibody therapies to treat a broad range of cancers, raised $80M in 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 company intends to use the funds 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 Therapeutics is a advancing T-Bolt therapies, which are directed with high precision at previously unreachable cancer cell targets. Its 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 (short for “tumor-bolts”), 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.
Crossbow was founded, seeded, and incubated at MPM BioImpact by Patrick Baeuerle, Ph.D.; Todd Foley; and Geraldine Paulus, Ph.D., who has since joined the company as its Vice President of Corporate Development and Operations. The founders assembled an international, collaborative, and passionate team with unmatched experience in inventing and developing next-generation cancer therapies. As Chief Executive Officer, Dr. Briggs Morrison brings over 30 years of pharmaceutical and biotechnology industry experience to his position, having previously served in executive roles at Syndax Pharmaceuticals, AstraZeneca, Pfizer, and Merck. Dmitri Wiederschain, Ph.D., recently joined the company as Chief Scientific Officer after previous leadership roles at Jounce Therapeutics, Sanofi, and Novartis.
FinSMEs
11/07/2023