Eli Lilly agreed to acquire CrossBridge Bio for up to $300 million. The deal adds dual-payload antibody-drug conjugates to Lilly’s oncology portfolio.
CrossBridge Bio is a Houston-based startup founded in 2023. Its lead candidate, CBB-120, will begin clinical trials for solid tumors this year.
The agreement includes an upfront cash payment and milestone-based payouts. This acquisition targets cutting-edge technologies to increase Lilly’s competitiveness in the cancer market.