Shanghai‑based Excalipoint raised $68.7 million in a seed round to advance three T‑cell engager platforms and a trispecific candidate now in the clinic. The company plans to develop co‑stimulation, masking technologies and multispecific designs intended to improve tumor selectivity and safety in solid tumors. Investors funded platform expansion and clinical development in China and internationally. Excalipoint’s capital raise underscores growing investor interest in next‑generation T‑cell engager modalities that address on‑target, off‑tumor toxicity through masking and conditional activation strategies.