Roche struck a global licensing deal with Hansoh Pharma, paying an $80 million upfront cash fee for rights to an early-stage antibody-drug conjugate targeting CDH17 in colorectal cancer. The agreement carries up to $1.45 billion in milestone payments and gives Roche development and commercialization responsibilities worldwide. The deal reflects big pharma appetite for ADCs and for late-preclinical/early-clinic oncology assets that can be rapidly integrated into established development infrastructures. Hansoh retains clinical-stage upside while Roche gains an asset that could fit into its existing oncology portfolio and ADC manufacturing capabilities.