Deal activity in the antibody‑drug conjugate (ADC) space continued as Aimedbio struck a near‑$1 billion licensing agreement with Boehringer Ingelheim for a preclinical solid‑tumor ADC candidate, part of a larger industry push presented at ESMO where panelists said ADCs retain substantial growth runway. The Aimedbio transaction underlines big pharma appetite for novel payloads and bispecific/dual‑payload constructs targeting solid tumors, including KRAS‑mutant indications. At ESMO, experts highlighted ADC combinations and expansion into earlier lines of therapy as key commercial vectors. For biotech developers, the market remains receptive to differentiated ADC modalities and engineered payload/linker chemistry; for investors, large licensing deals signal continued consolidation and late‑stage partnering opportunities in an evolving ADC landscape.