92Bio
92Bio is a pre-revenue, clinical-stage biotech founded in 2023 that develops multi-specific T-cell engager (TCE) biologics for cancer, advancing NTB-928 (FRα x CD3 TCE) into the clinic in H1 2026 and a γδ TCE for AML in 2027.
- Company typePrivate
- Founded2023
- HeadquartersHayward, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What 92Bio does
92Bio, Inc. is a privately held, clinical-stage biopharmaceutical company founded in 2023 and headquartered in Hayward, California, that develops multi-specific T-cell engager (TCE) biologic therapies for cancer. The company's pipeline is built around two lead programs: NTB-928, a potentially best-in-class folate receptor alpha (FRα) x CD3 TCE for FRα-expressing solid tumors (and selected hematologic tumors) on track to enter the clinic in the first half of 2026, and a first-in-class CD123 x gamma delta (γδ) T-cell engager for acute myeloid leukemia (AML) slated for clinical entry in 2027, with additional undisclosed solid and hematologic tumor programs referenced as future work.
The underlying technology is a proprietary multi-specific antibody design platform that combines conventional CD3-engaging TCE biology with a novel γδ T-cell engaging modality, leveraging the γδ T-cell subset's association with favorable cancer outcomes to create fit-for-purpose therapeutics. 92Bio's revenue model is licensing/royalties tied to future commercialization; the company is pre-revenue with no marketed products, and distribution is expected to flow through standard pharmaceutical channels (specialty pharmacies, hospital systems, oncology centers) post-approval. Customers/end-beneficiaries are defined by indication: hematologic cancer patients (notably AML) and solid tumor patients with FRα expression, and go-to-market activity is concentrated on scientific publication and conference engagement rather than commercial sales.
The company is venture-backed by a syndicate of Lightspeed, Firebrand River Capital, Bluebird Ventures, and SR One, each with board representation, and is led by CEO Ben Buelow, MD, PhD (former CMO of Teneobio, acquired by Amgen for up to $2.5B), supported by a CDO and four PhD-level VPs across Discovery Biology, Biologics, Informatics, and Clinical Operations. Marketing efforts to date are limited to a LinkedIn presence, an SITC 2025 poster on the CD123 x γδ TCE, and the company website; no patents, awards, certifications, M&A, or material leadership departures are disclosed.
92Bio firmographics
Firmographics- Name
- 92Bio
- Legal name
- 92Bio, Inc.
- Website
- https://92biotech.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- 92Bio is a pre-revenue, clinical-stage biotech founded in 2023 that develops multi-specific T-cell engager (TCE) biologics for cancer, advancing NTB-928 (FRα x CD3 TCE) into the clinic in H1 2026 and a γδ TCE for AML in 2027.
- Ownership category
- akta.pro rank
92Bio industry classification
Industry- Product category
- Oncology Biologics
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Cell Therapy Developers (Allogeneic/Off-the-shelf) (HLAAABAB)
- akta.pro secondary industry
- CAR-T & TCR-T Therapies (HLAAABAC)
Keywords
Where 92Bio is headquartered
LocationHeadquarters
- HQ city
- Hayward
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
92Bio business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Pharmaceutical Development and Commercialization: Pre-revenue clinical stage biopharmaceutical company. Revenue will be generated through commercialization of novel antibody therapeutics upon successful clinical development and regulatory approval. Pipeline includes NTB-928 for solid tumors and γδ T-cell engaging drugs for hematologic malignancies.
Go-to-market motion1 record
Marketing channels3 records
92Bio product offering
Product offeringCore offering
92Bio is a clinical-stage biopharmaceutical company developing novel, best-in-class multi-specific T-cell engager (TCE) antibody therapeutics for cancer. Its two lead candidates are NTB-928, an FRα x CD3 TCE for solid tumors entering the clinic in H1 2026, and a CD123 x gamma delta (γδ) T-cell engager for acute myeloid leukemia expected to enter the clinic in 2027. The company leverages multi-specific antibody design and novel γδ T-cell immune subsets to create fit-for-purpose cancer therapeutics.
Product overview
92Bio is a clinical-stage biotech company developing novel, best-in-class multispecific biologics (T-cell engagers/TCEs) for cancer treatment. The company's pipeline includes two lead programs: NTB-928, a FRα x CD3 TCE targeting solid and hematologic tumors entering Phase 1 in first half 2026; and a CD123 x gamma delta T cell engager for acute myeloid leukemia expected to enter the clinic in 2027. 92Bio leverages advances in multi-specific antibody design and novel immune cell subsets (particularly gamma delta T-cells) to create fit-for-purpose TCEs.
Differentiator
Problem solved
Functional benefit
Products and services
- NTB-928 Potentially best-in-class folate receptor alpha (FRα) x CD3 T-cell engager (TCE) candidate for the treatment of FRα-expressing solid tumors; designed to bind tumor antigens and T-cell receptors simultaneously to redirect T-cell cytotoxicity to cancer cells.
- CD123 x gamma delta T cell engager First-in-class novel γδ T-cell engaging drug candidate targeting CD123 for the treatment of acute myeloid leukemia (AML), leveraging the γδ T-cell immune subset strongly linked to favorable cancer outcomes.
Quantifiable outcome
- NTB-928 on track to enter clinic in H1 2026; γδ T-cell engaging drug for AML slated for clinical entry in 2027
Companies that use 92Bio
Customer profileSegments2 records
Ideal customer profiles2 records
92Bio technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
92Bio partnerships and signals
Strategic signalScale indicators2 records
Recent moves5 records
Expansion highlights4 records
92Bio competitors and assessment
Company assessmentDirect peers
- Compass Therapeutics: Clinical-stage biotech developing multi-specific antibodies including TCEs for oncology indications. Closely comparable in stage, modality, and clinical execution profile.
- Harpoon Therapeutics: Developed a T-cell engager platform (HPN424, HPN536) for solid tumors before being acquired by Merck. Closest direct analog as a clinical-stage multi-specific TCE developer with similar target profiles.
- Maverick Therapeutics (Takeda): Developed a T-cell engager platform (COBRA) targeting solid tumors; acquired by Takeda in 2021. Direct precedent for a TCE platform company reaching an exit via strategic acquisition.
- Cullinan Oncology: Clinical-stage oncology company developing multi-specific immunotherapies including TCEs. Comparable stage, modality, and indication focus (including hematologic malignancies).
Broad incumbents
- Amgen: Acquirer of Teneobio (92Bio CEO's prior company) and developer/marketer of Blincyto (CD19 x CD3 TCE). Sets the competitive standard in TCEs and represents a potential strategic acquirer for 92Bio.
- MacroGenics: Established clinical-stage biotech with a portfolio of multi-specific DART and TRIDENT TCE molecules targeting both solid and hematologic tumors. Larger and more mature peer with multiple clinical-stage TCE programs.
- Genmab: Developer of the DuoBody bispecific antibody platform, with multiple approved and clinical-stage TCEs (e.g., epcoritamab). Established platform peer in multi-specific antibody engineering for oncology.
Emerging players
- Adaptimmune Therapeutics: Develops engineered T-cell therapies (SPEAR T-cells) including TCR-T approaches for solid tumors. Mechanistically adjacent — both approaches leverage engineered T-cell receptor biology for cancer targeting.
- CytomX Therapeutics: Develops masked, conditionally activated antibody therapeutics (Probodies) including TCEs for solid tumors. Comparable in being a clinical-stage platform company targeting solid tumor TCEs with novel engineering.
- Adagene: Clinical-stage biotech using AI-driven antibody discovery to develop multi-specific antibodies for oncology. Comparable stage and platform-driven multi-specific antibody approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
92Bio social profiles
Digital presence92Bio financial estimates
Financial estimateRevenue estimate
Valuation estimate
92Bio leadership team
Management profileNumber of profiles
Profiles10 records
92Bio funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
92Bio M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 92Bio
What does 92Bio do?
92Bio is a clinical-stage biopharmaceutical company developing novel, best-in-class multi-specific T-cell engager (TCE) antibody therapeutics for cancer. Its two lead candidates are NTB-928, an FRα x CD3 TCE for solid tumors entering the clinic in H1 2026, and a CD123 x gamma delta (γδ) T-cell engager for acute myeloid leukemia expected to enter the clinic in 2027. The company leverages multi-specific antibody design and novel γδ T-cell immune subsets to create fit-for-purpose cancer therapeutics.
Is 92Bio a public or private company?
92Bio is a private company. It is classified as venture growth investor backed and is currently operating.
When was 92Bio founded?
92Bio was founded in 2023. It employs 11 to 50 people.
Where is 92Bio based?
92Bio is headquartered in Hayward, United States, in the North America region.
How does 92Bio make money?
One revenue line is on record: pharmaceutical Development and Commercialization.
Who are 92Bio's main competitors?
Direct peers on record are Compass Therapeutics, Harpoon Therapeutics, Maverick Therapeutics (Takeda) and Cullinan Oncology. Broad incumbents are Amgen, MacroGenics and Genmab. Emerging players are Adaptimmune Therapeutics, CytomX Therapeutics and Adagene.
Does 92Bio have an API?
No public API is recorded for 92Bio.
What industry is 92Bio in?
92Bio's product category is Oncology Biologics. Its primary akta.pro industry code is HLAAABAB, Cell Therapy Developers (Allogeneic/Off-the-shelf), with a secondary code of HLAAABAC, CAR-T & TCR-T Therapies. Its NAICS code is 325414 and its SIC code is 2836.