Eli Lilly agreed to acquire CrossBridge Bio for up to $300 million to bolster its oncology pipeline with dual-payload antibody-drug conjugate technology. The Houston-based biotech’s lead candidate, CBB-120, is expected to enter the clinic via an IND filing later this year, according to deal disclosures. CrossBridge’s approach is designed to deliver two cytotoxic payloads from a single antibody, aiming to widen the therapeutic window and potentially improve durability versus single-payload ADCs. Lilly’s move continues the pharma’s pattern of inorganic investment in next-generation precision oncology modalities. For the ADC landscape, the transaction also highlights persistent investor and acquirer interest in payload engineering and resistance circumvention—particularly for tumor types where current ADCs face efficacy ceilings. The deal structure includes undisclosed upfront terms and milestone-based payments. The acquisition is expected to close in the second quarter of 2026, positioning Lilly to integrate CMC, translational, and clinical development planning ahead of IND submission timing.