{"id":97598,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uaes-ce-ventures-co-leads-usd-10-mn-seed-round-for-us-biotech-firm\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"uaes-ce-ventures-co-leads-usd-10-mn-seed-round-for-us-biotech-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/06\/uaes-ce-ventures-co-leads-usd-10-mn-seed-round-for-us-biotech-firm\/","title":{"rendered":"UAE\u2019s CE-Ventures co-leads USD 10 mn seed round for US biotech firm"},"content":{"rendered":"

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

Where will the money go?<\/strong> 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\u2019s pipeline of dual-payload antibody-drug conjugates tech to \u201cmaximize therapeutic effectiveness by delivering targeted therapies directly into cancer cells, minimizing potential off-target effects,\u201d CrossBridge Bio CEO Michael Torres said.<\/p>\n

About CE-Ventures:<\/strong> 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<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

CrossBridge Bio will use the proceeds to advance its flagship cancer treatment<\/p>\n","protected":false},"author":1,"featured_media":97599,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[1004,1940,7,78,274],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-biotech","tag-ce-ventures","tag-enterpriseam-uae","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"cf2e0125-d0d7-45d6-8b3c-5cb41629b594","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/456.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s CE-Ventures co-leads USD 10 mn seed round for US biotech firm CrossBridge Bio","related_issue":[97582],"teaser":"CrossBridge Bio will use the proceeds to advance its flagship cancer treatment","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.edd4c119-7f69-4d33-a3e2-20fb1099e445.mp3"},"yoast_head":"\nUAE\u2019s CE-Ventures co-leads USD 10 mn seed round for US biotech firm - 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