Roche agreed to acquire global rights to an early‑stage ADC from Hansoh Pharma for an $80 million upfront payment and up to $1.45 billion in milestones, gaining a CDH17‑targeted colorectal cancer program. The deal adds to a flurry of ADC licensing activity and follows Rani Therapeutics’ separate partnership with Chugai to apply its oral delivery platform to rare‑disease antibodies. The transactions highlight Big Pharma’s ongoing appetite for targeted payload delivery platforms and creative delivery partnerships. Industry players continue to allocate sizeable milestone pools for preclinical and early clinical assets that offer differentiated targeting chemistry or manufacturing advantages. Clarification: antibody‑drug conjugates (ADCs) link a monoclonal antibody to a cytotoxic payload, allowing targeted delivery of chemotherapy‑level agents to antigen‑expressing tumor cells.