A roundup of news from the large and mid-sized bio/pharmaceutical companies featuring GSK and Eli Lilly and Company. Highlights below.  

For the latest news roundup on small and Emerging Pharma companies, see Biotech Briefs. 

* GSK Completes $950-M Acquisition of 35Pharma  
* Lilly To Acquire ADC Specialist CrossBridge Bio in $300-M Deal 

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GSK Completes $950-M Acquisition of 35Pharma 
GSK has completed its $950-million acquisition of 35Pharma, a clinical-stage bio/pharmaceutical company focused on protein-based therapeutics. 

The acquisition includes HS235, an investigational medicine that has completed Phase I healthy volunteer clinical trials with studies to start imminently (as reported on April 15, 2026) in two forms of pulmonary hypertension: pulmonary arterial hypertension (high blood pressure in the lung arteries) and pulmonary hypertension due to heart failure with preserved ejection fraction (a form of heart failure frequently associated with pulmonary hypertension). 

Source: GSK  

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Lilly To Acquire ADC Specialist CrossBridge Bio in $300-M Deal 
Eli Lilly and Company has agreed to acquire CrossBridge Bio, a Houston, Texas-based preclinical bio/pharmaceutical company developing dual-payload antibody-drug conjugates (ADCs), in a deal worth up to $300 million. 

CrossBridge Bio, a Houston-based biotechnology firm founded in 2023, is developing a new dual-payload ADC technology originally created by Kyoji Tsuchikama, PhD and Associate Professor at the University of Texas Health Science Center in Houston. 

CrossBridge Bio’s 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 certain resistance mechanisms. The company expects to file an investigational new drug application in 2026.  

Under 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. 

Source: CrossBridge Bio