What Bolt Biotherapeutics does

Bolt Biotherapeutics is a clinical-stage immuno-oncology company developing immune-stimulating antibody conjugates (ISACs) for the treatment of solid tumors. Founded in 2015 by Dr. Edgar G. Engleman of Stanford University and headquartered in Redwood City, California, the company has built a proprietary platform called Boltbody™ ISAC that combines tumor-targeting antibodies with proprietary next-generation TLR7/8 agonist payloads delivered via non-cleavable linkers. The platform is designed to activate myeloid cells locally within the tumor microenvironment, reprogramming it and generating durable adaptive anti-tumor immune responses with the potential for immunological memory.

The company's pipeline includes BDC-4182, a next-generation Claudin 18.2 ISAC currently in a Phase 1 dose-escalation trial for gastric and gastroesophageal junction cancer with initial data anticipated in Q3 2026; BDC-3042, a first-in-class Dectin-2 agonist antibody that completed Phase 1 dose-escalation in April 2025 with signals of anti-tumor activity in non-small cell lung cancer; and preclinical CEA ISAC and PD-L1 ISAC programs. A prior HER2 ISAC (BDC-1001) completed Phase 1/2 and informed the next-generation designs. The company has no commercial product revenue.

Bolt Biotherapeutics generates revenue through strategic partnerships rather than direct product sales. Its business model centers on upfront payments, equity investments, and milestone-based economics from collaborations. The Genmab partnership (June 2021) includes $10 million upfront, a $15 million equity investment, and potential milestones of up to $285 million per candidate across up to three bispecific ISAC programs. A second collaboration with Toray funds a Caprin-1 ISAC, and Piramal Pharma Solutions provides contract manufacturing. The company went public on NASDAQ under ticker BOLT in February 2021, has 51–100 employees, and as of March 31, 2026 held $23.9 million in cash funding operations into 2027. Customer segments are oncology patients (eventual end market) and pharmaceutical partners (current revenue source).

Name

Bolt Biotherapeutics

Legal name

Bolt Biotherapeutics, Inc.

Website

https://boltbio.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Bolt Biotherapeutics is a clinical-stage immuno-oncology company developing Boltbody™ ISAC antibody conjugates that combine tumor-targeting antibodies with TLR7/8 agonists to treat solid tumors. It serves cancer patients via its pipeline (BDC-4182, BDC-3042) and pharma partners (Genmab, Toray).

Ownership category

akta.pro rank

Product category

Immuno-Oncology Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

akta.pro secondary industry

Bispecific & Multispecific Antibodies (HLAAAAAF)

Keywords

• Immuno-oncology therapeutics
• Antibody drug conjugates
• Cancer immunotherapy platform
• Clinical-stage biopharmaceuticals
• Innate immune system therapies

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. Collaboration and Partnership Revenue: Bolt Biotherapeutics generates revenue through strategic partnerships and collaborations with pharmaceutical companies. These include upfront payments, equity investments, and milestone payments tied to development, regulatory, and commercial achievements. The Genmab partnership includes $10 million upfront, $15 million equity investment, and potential milestones up to $285 million per candidate.
2. Future Product Sales: Pre-commercial stage; the company is developing ISAC therapeutic candidates targeting solid tumors. Revenue will depend on successful clinical development, regulatory approval, and commercialization of pipeline candidates including BDC-4182 for gastric cancer.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Bolt Biotherapeutics is a clinical-stage immuno-oncology company that develops proprietary Immune-Stimulating Antibody Conjugate (ISAC) therapeutics through its Boltbody™ platform. Its product candidates combine tumor-targeting antibodies with proprietary TLR7/8 immune-stimulating payloads to activate the innate immune system against solid tumors, with lead candidates BDC-4182 (claudin 18.2 ISAC) in Phase 1 and BDC-3042 (Dectin-2 agonist) with Phase 1 dose-escalation complete.

Product overview

Bolt Biotherapeutics is a clinical-stage immuno-oncology company that has developed the proprietary Boltbody™ ISAC (Immune-Stimulating Antibody Conjugate) platform. The platform combines tumor-targeting antibodies with TLR7/8 immune-stimulating payloads to activate the innate immune system against cancer cells. The company's lead product candidate is BDC-4182, a next-generation ISAC targeting claudin 18.2 in Phase 1 trials for gastric and gastroesophageal cancers. Additional proprietary programs include BDC-3042 (Dectin-2 agonist antibody, Phase 1 complete), CEA ISAC, and PD-L1 ISAC (both preclinical). Bolt also collaborated with Genmab on bispecific ISACs and with Toray on a Caprin-1 ISAC. A prior HER2-targeting ISAC program (BDC-1001) informed next-generation development.

Differentiator

Problem solved

Functional benefit

Brands

• Boltbody™ ISAC Platform: Proprietary Immune-Stimulating Antibody Conjugate platform technology that enables tumor-specific activation of the innate immune system

Quantifiable outcome

• BDC-4182 demonstrated dramatically more potency than BDC-1001 in preclinical assays
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• ToraycoreStrategic or Co-development Partner · 1 January 2023Toray collaboration funds a Boltbody ISAC targeting Caprin-1 through early clinical development. This is one of two existing collaborations based on the Boltbody ISAC platform.
• GenmabcoreStrategic or Co-development Partner · 2 June 2021Genmab and Bolt Biotherapeutics partnered to develop bispecific immune-stimulating antibody conjugates (ISACs). The deal involves Genmab paying Bolt $10 million upfront, making a $15 million equity investment, and funding early development, with milestones of up to $285 million per candidate. The collaboration funds up to 3 bispecific Boltbody ISACs through early clinical development.
• Piramal Pharma SolutionsminorStrategic or Co-development Partner · 25 June 2020Production agreement for antibody drug conjugate manufacturing. Piramal provides contract manufacturing services for Bolt's therapeutic candidates.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Heidelberg Pharma: Clinical-stage ADC developer using proprietary amanitin-based payload technology. Comparable as a small-cap clinical-stage ADC platform company with novel payload chemistry, similar in capital structure and partnership strategy to Bolt.
• Mersana Therapeutics: Clinical-stage ADC developer with proprietary payload and linker chemistry targeting solid tumors. Directly comparable to Bolt as a clinical-stage antibody-conjugate oncology company; both face the same translation risk from preclinical ADC platforms to solid-tumor efficacy and commercial viability.
• Sutro Biopharma: Clinical-stage ADC and bispecific antibody developer using cell-free protein synthesis platform to engineer novel antibody conjugates. Direct comparable in technical approach (engineered antibody conjugates) and oncology focus, with parallel platform-partnership business model.
• CytomX Therapeutics: Clinical-stage oncology company developing Probody-based antibody therapeutics, including antibody-drug conjugates targeting tumor microenvironments. Comparable in approach (engineered antibodies with tumor-localized activity) and stage to Bolt's ISAC strategy.

Broad incumbents

• Genmab: Major oncology antibody company and Bolt's strategic partner (bispecific ISACs). Relevant as both partner and broader incumbent in the bispecific antibody space, with a deep bench of approved and clinical-stage oncology antibodies that validate the antibody-conjugate market.
• ImmunoGen (AbbVie): Pioneer in ADC development (Kadcyla, Elahere), now part of AbbVie. Serves as the broad incumbent benchmark for ADC technology validation; even though much larger, ImmunoGen's pipeline closely parallels the technical blueprint Bolt is pursuing with ISACs.
• Seagen (Pfizer): ADC market leader (Adcetris, Padcev, Tukysa), now part of Pfizer. Establishes the commercial ADC playbook and validates the strategic value of platform ADC companies; relevant peer for any Bolt exit or partnership scenario.

Emerging players

• Innate Pharma: Clinical-stage immuno-oncology company developing innate immune system-based therapies, including NK cell engagers and TLR agonists. Closely aligned with Bolt's strategy of leveraging the innate immune system against solid tumors.
• MacroGenics: Clinical-stage immuno-oncology company developing bispecific antibodies and antibody-drug conjugates. Similar platform-based approach to Bolt with a focus on myeloid-engagement and tumor-targeting antibodies, including multiple clinical-stage oncology assets.
• Pyxis Oncology: Clinical-stage oncology company developing antibody-drug conjugates and immunotoxins for difficult-to-treat cancers. Similar stage and biological-modality focus to Bolt, with comparable pipeline economics and partnership-driven business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds7 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bolt Biotherapeutics