CE-Ventures, the corporate venture capital arm of UAE-based Crescent Enterprises, has announced its participation in a $10 million financing round for CrossBridge Bio, a biotech company based in Houston. CrossBridge Bio is pioneering dual-payload antibody-drug conjugates (ADCs) for targeted cancer therapies. The round, co-led by CE-Ventures and TMC Venture Fund, aims to support the advancement of CrossBridge Bio’s lead candidate, CBB-120, which is being developed as a treatment for solid tumors, and to expand the company’s dual-payload ADC pipeline.
Additionally, the funding will help accelerate the development of CrossBridge Bio’s proprietary linker technology, which is vital for enhancing the safety and effectiveness of its cancer therapies.
Tushar Singhvi, Deputy CEO and head of investments at Crescent Enterprises, commented: “Crescent Enterprises is dedicated to expanding our life sciences portfolio by supporting innovative biotech companies. CrossBridge Bio represents the kind of groundbreaking therapeutic drug development we are proud to support.”
Damir Illich, PhD, Manager of Life Sciences at CE-Ventures and newly appointed board director of CrossBridge Bio, emphasized the company’s leadership in dual-payload ADC technology, stating, “We are proud to support CrossBridge Bio as they advance their lead candidate CBB-120 through preclinical studies and work to expand their pipeline of dual-payload ADC therapies.”
CrossBridge Bio’s CEO, Michael Torres, PhD, expressed his appreciation for the investment, noting, “We are honored to have the support of such experienced investors who share our vision of transforming cancer therapy. Our dual-payload ADC technology is designed to maximize therapeutic effectiveness by delivering targeted therapies directly into cancer cells while minimizing off-target effects. This funding will allow us to advance CBB-120 into critical preclinical toxicology studies, bringing us closer to clinical development.”
CE-Ventures has previously invested over $500 million globally across more than 50 companies, focusing on high-growth technology and life science sectors, particularly novel therapeutics and microbiome-based therapies. Other investors in the CrossBridge Bio funding round include Portal Innovations, Alexandria Ventures, and several pre-seed investors.
