Eli Lilly agreed to buy CrossBridge Bio, a Houston-based antibody-drug conjugate startup, for up to $300 million, as it adds technology aimed at improving next-generation ADC performance. The deal covers upfront and milestone payments, and it strengthens Lilly’s oncology pipeline built around ADC expansion following its earlier Loxo acquisition and subsequent ADC-focused investments. CrossBridge is developing dual-payload ADCs, including its lead candidate CBB-120, which targets TROP2 with an approach intended to widen the therapeutic index and improve durability versus single-payload designs. Lilly said CrossBridge’s platform capabilities are expected to complement its existing ADC efforts and add differentiated chemistry for future candidates. While CBB-120 has not yet entered clinical testing, the acquisition underscores that Lilly’s growth strategy remains reliant on targeted modalities and continued bolt-on innovation from early-stage ADC specialists.