Eli Lilly has agreed to acquire CrossBridge Bio, a Houston-based biotechnology company focused on cancer treatments, as part of its ongoing dealmaking activity. The transaction includes an undisclosed upfront payment, with potential additional milestone-based payments bringing the total value of the deal to as much as $300 million.
Founded in 2023, CrossBridge Bio is developing next-generation antibody-drug conjugates (ADCs), including dual-payload technologies designed to improve cancer treatment approaches. The company’s lead program, CBB-120, targets TROP2, a protein commonly overexpressed in a range of solid tumors. TROP2 is expressed in many epithelial tumors, including those found in triple-negative breast, colorectal, pancreatic, prostate, gastric, ovarian, and non-small cell lung cancers.
CBB-120 has been designed with the aim of addressing limitations seen in existing TROP2-targeting therapies. Currently available options include Gilead Sciences’ Trodelvy and AstraZeneca and Daiichi Sankyo’s Datroway. CrossBridge’s candidate is intended to improve durability and safety while also addressing resistance mechanisms. The company plans to seek regulatory clearance from the U.S. Food and Drug Administration to begin human testing of CBB-120 later this year.
CrossBridge’s technology originated from research conducted at the University of Texas Health Science Center at Houston. The company has also secured external funding, including a $10 million seed round led by TMC Venture Fund and CE-Ventures in 2024, along with a $15 million grant from the Cancer Prevention and Research Institute of Texas.
The acquisition adds to Eli Lilly’s existing work in the ADC field, where the company has maintained a measured approach. In 2023, Jacob Van Naarden, Lilly’s oncology research and development president, noted that expectations surrounding ADCs may not always align with historical outcomes, cautioning against assuming rapid expansion within the field.
Despite this cautious stance, Lilly has continued to expand its presence in ADCs through acquisitions. In 2024, the company acquired Emergence Therapeutics and Mablink Bioscience, both of which are focused on ADC development. The addition of CrossBridge Bio further broadens Lilly’s pipeline in this area, which already includes multiple candidates in clinical development. Among them is sofetabart mipitecan, an ADC that has received breakthrough therapy designation for certain ovarian and related cancers.
The CrossBridge acquisition is part of a broader pattern of dealmaking by Lilly, supported by financial gains linked to its weight loss and diabetes drug tirzepatide. Since December 2022, the company has completed 17 biotech acquisitions, including several high-value transactions in 2026. These include the purchase of Ventyx for over $1 billion, Orna in a deal exceeding $2 billion, and Centessa Pharmaceuticals for more than $6 billion.
In addition to acquisitions, Lilly has also pursued partnerships to expand its capabilities. Recently, the company entered into an agreement with Insilico Medicine valued at up to $2.75 billion, focused on applying machine learning to oral drug development.
Commenting on the acquisition, CrossBridge Bio CEO Michael Torres said, “We look forward to seeing how Lilly advances our new generation of dual-payload antibody-drug conjugates, including CBB-120, with the potential to meaningfully improve outcomes for patients with limited treatment options.”
While specific financial details of the CrossBridge deal remain limited, the acquisition reflects Lilly’s continued investment in oncology and emerging therapeutic technologies.
Details of the CrossBridge Acquisition
Under the terms of the CrossBridge agreement, shareholders of CrossBridge Bio may receive up to $300 million in total compensation, including upfront cash and milestone-based payments tied to development progress.
This CrossBridge transaction reflects the early-stage nature of the biotech’s pipeline while highlighting the premium placed on innovative oncology platforms.
Technology Behind CrossBridge Innovation
At the core of CrossBridge’s value is its dual-payload antibody-drug conjugate (ADC) technology. These therapies are designed to deliver two cancer-fighting agents directly to tumor cells, improving effectiveness and overcoming resistance.
The lead candidate, CBB-120, targets TROP2-expressing tumors and is expected to enter clinical development soon, making the CrossBridge platform highly attractive to larger pharmaceutical players.
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
- Editorial Team
