Tubulis Raises €308M to Advance Antibody-Drug Conjugate Pipeline

Tubulis, a German biotech company specializing in next-generation antibody-drug conjugates (ADCs), has secured €308 million (USD 361 million) in a major Series C financing round aimed at accelerating the clinical development of its lead oncology programs.

The round was led by Venrock Healthcare Capital Partners, with participation from new investors Wellington Management and Ascenta Capital. Existing backers including Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, and others also joined the round.

The funding will primarily support the advancement of TUB-040, Tubulis’ lead ADC candidate targeting NaPi2b, an antigen commonly overexpressed in ovarian cancer and lung adenocarcinomas. Currently in a Phase I/IIa trial for platinum-resistant ovarian cancer and relapsed or refractory non-small cell lung cancer, TUB-040 received Fast Track designation from the U.S. FDA in June 2024.

“With TUB-040 progressing in the clinic and first data being presented at ESMO, we are ready to expand into earlier treatment lines,” said Dr. Dominik Schumacher, CEO and Co-founder of Tubulis. “This landmark financing enables us to continue innovating across our ADC platforms and bring superior treatments to patients.”

The Series C will also fund further development of TUB-030, another clinical-stage ADC, as well as multiple preclinical programs, and expansion of the company’s proprietary ADC technologies, designed to create more targeted and effective therapies for solid tumors.

“Tubulis has distinguished itself in the ADC field with a forward-looking vision and strong scientific data,” said Nimish Shah, Partner at Venrock. “The company is now positioned to translate its preclinical success into meaningful clinical outcomes.”

As part of the financing, Dr. Lorence Kim of Ascenta Capital and Patrick Heron of Frazier Life Sciences will join Tubulis’ Supervisory Board.

Dr. Christian Grøndahl, Chair of the Supervisory Board, praised the milestone as “a testament to the scientific strength and executional track record of the Tubulis team,” emphasizing the company’s ambition to become a global leader in ADC innovation.

With this significant capital injection and growing industry validation, Tubulis is set to accelerate the development of a new generation of ADCs aimed at tackling cancers with high unmet medical needs.