Eli Lilly to Acquire CrossBridge Bio for Up to $300 Million

Apr 15, 2026

57 min

Apr 15, 2026 09:31

Biotech cancer drug developer set for up to $300m US acquisition

## Acquisition Agreement

CrossBridge Bio, a biotechnology firm specializing in cancer drug development, is set to be acquired by Eli Lilly and Company. The deal, valued at up to $300 million, includes an upfront payment and additional funds contingent on achieving specific development milestones.

## Innovative Cancer Therapies

Founded in 2023 and based in Houston, CrossBridge Bio focuses on next-generation targeted cancer therapies. Their platform utilizes dual-payload antibody-drug conjugates (ADCs), which aim to enhance treatment precision and effectiveness while overcoming resistance issues in current therapies.

## Role of CE-Ventures

CE-Ventures, the corporate venture capital arm of Crescent Enterprises, played a significant role in CrossBridge Bio's early development. They co-led a $10 million initial financing round in 2024, supporting the company's growth and innovation.

## Statements from Key Figures

Tushar Singhvi, Deputy CEO of Crescent Enterprises, expressed pride in supporting CrossBridge Bio's journey to this milestone. Dr. Michael Torres, CEO of CrossBridge Bio, acknowledged CE-Ventures' crucial support in the company's formative stages. Dr. Damir Illich, Manager of Life Sciences at CE-Ventures, highlighted CrossBridge Bio's leadership in dual-payload ADC development and expressed confidence in Lilly as a partner to advance this innovation.

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