On April 14, 2026 CrossBridge Bio, Inc., a pre-clinical biotechnology company pioneering the development of next-generation dual-payload antibody-drug conjugates (ADCs) reported a definitive agreement to be acquired by Eli Lilly and Company ("Lilly").
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CrossBridge Bio, a Houston-based biotechnology firm founded in 2023, is developing a new dual-payload ADC technology originally created by Kyoji Tsuchikama at the University of Texas Health Science Center at Houston (UTHealth Houston). The company is focused on advancing next-generation ADCs with the potential to transform clinical practice. Its lead candidate, CBB-120, is a TROP2-targeting TOP1i/ATRi dual-payload ADC for cancer treatment. It is designed to enhance the therapeutic index and generate more durable responses compared to current TROP2-targeting ADCs, while also addressing key resistance mechanisms. U.S. Food and Drug Administration Investigational New Drug application for CBB-120 is anticipated in 2026.
"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. At CrossBridge Bio, we believe our dual-payload ADC platform is uniquely positioned to be transformative in oncology. I’m proud of how well our team has executed and advanced our platform in such a short time since the company’s founding. By becoming a part of Lilly, a leader in patient-focused therapeutic development, we are well-positioned to further accelerate the clinical potential of this approach," said Dr. Michael Torres, Co-Founder and CEO.
Under the terms of the agreement, Lilly will acquire CrossBridge Bio, and CrossBridge Bio shareholders could receive up to $300 million in cash, inclusive of an upfront payment and a subsequent payment upon achieving a specified development milestone.
Cooley LLP is serving as legal counsel to CrossBridge Bio, and Zwick Advisory, LLC acts as a strategic advisor to the Company’s Board of Directors.
(Press release, CrossBridge Bio, APR 14, 2026, View Source [SID1234664381])