Eli Lilly agreed to buy CrossBridge Bio for up to $300 million, aiming to strengthen its antibody-drug conjugate (ADC) capabilities with a next-generation, dual-payload approach. CrossBridge, based in Houston, is advancing CBB-120, a TROP2-directed ADC candidate with no clinical data disclosed yet, and the companies expect an IND-enabling path that could start human trials this year. The acquisition adds to Lilly’s existing ADC footprint, following its 2019 purchase of Loxo Oncology and earlier ADC-focused startup deals. CrossBridge’s claims center on a wider therapeutic index and potential improvements in durability and resistance compared with single-payload ADCs. For investors and competitors, the deal signals continued appetite for ADC platform expansion even as firms compete for differentiated payload formats and tumor targeting strategies.