Pathos AI has secured a large ADC licensing agreement with Jiangsu Alphamab Biopharmaceuticals for a TROP2/HER3 bispecific antibody-drug conjugate. The deal, described as global in scope outside Greater China, is structured for development, manufacturing and commercialization responsibility to sit with Pathos. In parallel, Pathos also pursued collaboration arrangements with AstraZeneca to advance a separate preclinical program, reflecting a strategy of combining late-stage licensing with internal and partnered discovery. The Alphamab asset is being evaluated across multiple solid tumor indications including breast, lung, gastric and colorectal cancer. For biotech investors, the transactions highlight how ADC platforms—especially bispecific approaches—continue to attract capital and partnership scale as sponsors seek differentiated targets and payload delivery.