CrossBridge Bio, a Houston, TX-based biotechnology company pioneering dual-payload antibody-drug conjugates as targeted cancer therapies, raised $10M in funding.
The round was led by TMC Venture Fund and CE-Ventures, with participation from Portal Innovations, Alexandria Venture Investments, Linden Lake Labs, and several pre-seed investors.
The company intends to use the funds for the development of its lead program, CBB-120, a potential TROP-2 dual-payload ADC for the treatment of solid tumors, and accelerate the expansion of its pipeline of novel ADC programs. Additionally, funds will be used to further derisk its proprietary linker technology with dual-payload applications, a critical component of its ADC platform, to improve the safety and efficacy profiles of its current and future drug candidates.
Led by CEO Michael Torres, CrossBridge Bio is providing an approach to deliver the stable antibody-drug conjugates (ADC) therapeutics that carry dual payloads as targeted treatments for a range of challenging cancers. Leveraging technology from the labs, the company aims to improve therapeutic indices and tackle tumor heterogeneity and resistance.
It is advancing a portfolio of dual-payload ADC programs for solid tumor cancers, led by CBB-120, a potential TROP2 ADC for certain breast cancers and other TROP2-positive cancers where the dual payloads will be most effective. It was formed during the TMC Innovation’s Accelerator for Cancer Therapeutics program and is headquartered in Houston, TX.
As part of this financing, both William McKeon, President and CEO of the Texas Medical Center (TMC), and Damir Illich, Ph.D. Manager, Life Sciences of CE-Ventures, will join CrossBridge Bio’s board of directors, bringing extensive experience in healthcare and life sciences to support the company’s strategic growth.
