In a new feature, BioBuzz examines the wave of antibody-drug conjugate (ADC) acquisitions in 2026: Gilead/Tubulis, Novartis/Myricx, J&J/Firefly Bio, and Eli Lilly/CrossBridge Bio, and argues that none of them were really about buying a drug. Each was a bet on chemistry, platforms, and the ability to keep building next-generation constructs once first-generation ADCs stop working.

But the article’s central argument is that the industry’s real constraint isn’t discovery anymore, it’s ADC manufacturing capacity. Conjugating a potent cytotoxin to an antibody at commercial GMP scale demands specialized containment, high-potency handling, and an analytical burden with no equivalent in standard biologics. North America accounted for an estimated 42–45% of the global ADC contract manufacturing market in 2025, and executives now describe domestic capacity as genuinely scarce.

Xcellon’s Role in the Story

BioBuzz highlights Xcellon Biologics as part of the regional answer to that gap, a CRDMO built in Rockville, Maryland around exactly the modalities driving the deal wave: ADCs, bioconjugates, bispecific antibodies, and T-cell engagers.

Co-Founder & COO Yuk Chiu was quoted directly on the challenge:

“The science behind ADC conjugation has advanced significantly. Today, one of the biggest challenges is achieving consistent, scalable manufacturing under GMP conditions. What works well at small scale doesn’t always translate directly to commercial production, especially with more complex constructs such as dual-payload ADCs. Success depends not only on process design but also on having the right manufacturing expertise and infrastructure.”

On what actually closes that gap, Chiu added:

“Manufacturing capability is about much more than facility space. It requires experienced scientists and operators who understand conjugation chemistry, process control, analytical characterization, and handling highly potent compounds under GMP. That expertise takes years to develop, and it remains one of the industry’s most important constraints.”

The piece also notes Xcellon’s XSpec™ bioconjugation configurator, which asks developers to specify programs, including dual-payload and bioorthogonal strategie, before development begins.

Read the full BioBuzz article: ADC Deals 2026: What Pharma Is Actually Buying.