Eli Lilly agreed to acquire CrossBridge Bio for up to $300 million in cash as it expands its antibody-drug conjugate (ADC) oncology pipeline. The Houston-based startup is developing dual-payload ADCs, with its lead asset CBB-120 aimed at TROP2-positive tumors and positioned as potentially wider therapeutic index versus existing TROP2-directed ADCs. Lilly’s move adds another ADC technology platform to a portfolio the company has built through prior startup acquisitions, reinforcing its focus on precision cancer treatments beyond small-molecule oncology. CrossBridge said CBB-120 has not yet entered clinical testing, with an expected application for human trials in 2026. The deal further accelerates ADC consolidation as large pharma seeks differentiated payload architectures and mechanisms for overcoming treatment resistance.