Eli Lilly agreed to acquire CrossBridge Bio for up to $300 million to expand its oncology antibody-drug conjugate pipeline, betting on dual-payload delivery to improve tumor killing and potentially reduce resistance. CrossBridge’s platform attaches two distinct cytotoxic payloads to a single antibody. CrossBridge’s lead program, CBB-120, is expected to move toward an investigational new drug application with the FDA later in 2026, with completion timed for early clinical development. Lilly’s deal reflects its broader push into next-generation oncology modalities, including ADCs. For CrossBridge, the transaction provides scale for development and clinical execution, while Lilly gains a preclinical-to-IND pathway focused on improved potency and selectivity.