Eli Lilly agreed to acquire CrossBridge Bio in a deal valued at up to $300 million to expand its oncology pipeline with dual-payload antibody-drug conjugates. CrossBridge’s lead program, CBB-120, is designed to deliver two cytotoxic payloads using a dual warhead approach. The transaction follows a period of accelerated ADC dealmaking and adds a new payload strategy as Lilly continues to build targeted oncology franchises. CrossBridge said it expects to submit CBB-120 for an investigational new drug application later this year, which would determine the next milestone for clinical timing. Across the field, the purchase highlights how pharmaceutical buyers are prioritizing ADC differentiation strategies—particularly approaches aimed at improved therapeutic index and resistance management.