Sharjah-based CE-Ventures, the VC arm of Crescent Enterprises, has co-led a USD 10 mn seed funding round for US-based biotech firm CrossBridge Bio, according to a press release. CE-Ventures co-led the funding round with Texas Medical Center Venture Fund and saw participation from Portal Innovations and Alexandria Ventures, in addition to other pre-seed investors.

Where will the money go? CrossBridge Bio will use the USD 10 mn investment to develop its flagship treatment CBB-120, as a potential treatment for solid tumors. The proceeds will also go towards expanding the company’s pipeline of dual-payload antibody-drug conjugates tech to “maximize therapeutic effectiveness by delivering targeted therapies directly into cancer cells, minimizing potential off-target effects,” CrossBridge Bio CEO Michael Torres said.

About CE-Ventures: The VC arm has invested over USD 500 mn in over 50 firms, focusing on high-growth companies in technology and life sciences, particularly in the fields of novel therapeutics and microbiome-based therapies, according to a separate press release.

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