Crossbow Therapeutics Raises $77M in Series B to Advance Cancer Antibody Pipeline

Crossbow Therapeutics just pulled $77M into its quiver, and no, this is not another biotech fairy tale about someday maybe. This is Cambridge, where the air smells like pipettes and ambition, and where serious people place serious bets on uncomfortable ideas. Taiho Ventures and Arkin Bio Capital co-led the round, with Sixty Degree Capital, Hamilton Lane, LifeLink Ventures, Libbs, and the Leukemia and Lymphoma Society’s Therapy Acceleration Program stepping in. The returning crew is just as telling: MPM BioImpact, Pfizer Ventures, BVF Partners, Polaris Partners, Eli Lilly and Company, Mirae Asset Capital. When that table fills up, it is not for the snacks.

Credit where it is due. Geraldine Paulus and Todd Foley built this thing from MPM BioImpact soil, then handed the keys to Briggs Morrison (CEO) and Dmitri Wiederschain (CSO) to drive it like they mean it. And they do. CBX-250 is already in the clinic, staring down relapsed and refractory myeloid malignancies through the CROSSCHECK-001 Phase 1 trial. AML, CML, MDS, CMML. The kind of acronyms that make oncologists quiet and investors pay attention. Next up, CBX-663, lining up an IND and a planned Phase 1 entry around Q3 2026, aiming at a TERT-derived target that stretches across both blood cancers and solid tumors.

Now here is where Crossbow earns its name. These T-Bolts are not swinging wildly at surface-level targets. They are threading the needle, going after peptide HLA complexes tied to intracellular proteins. Translation for the non-lab crowd: they are hunting where most antibodies cannot see. It is less brute force, more precision archery. And in oncology, precision is not a luxury. It is the difference between noise and signal.

So how does a company get to $157M total funding this quickly? You show up with a platform that expands the target universe, you move a lead program into the clinic without theatrics, and you surround it with a pipeline that suggests you are not a one-shot story. Then you bring in a syndicate that understands the long game and has the patience to fund it.

The takeaway is simple but not easy. Novel science gets attention. Disciplined execution gets capital. Crossbow Therapeutics is doing both, and the market is responding accordingly. If you are building in biotech, take notes. If you are investing, you probably already did.