Excalipoint Therapeutics closed a $68.7 million seed financing to develop masked, co‑stimulating and multispecific T‑cell engager platforms targeting solid tumors. The Shanghai‑based biotech launches with multiple platform approaches and a trispecific candidate already in the clinic, aiming to overcome on‑target toxicity and tumor microenvironment hurdles that have constrained T‑cell engagers in solid cancers. Investors oversubscribed the round, signaling strong capital appetite for next‑generation engager modalities coming out of China. Excalipoint intends to use proceeds to progress clinical programs, expand discovery capabilities and support IND‑enabling activities as it seeks global development partners.