Munich-based Tubulis raises €308M from Venrock Healthcare Capital Partners and others to boost cancer drug development

German firm Tubulis raises €308M in a Series C to accelerate clinical development of lead ADC candidate — TUB-040 and expand its pipeline.

Munich-based Tubulis, a company specialised in creating protein-drug conjugates, has secured €308M in a Series C funding round led by Venrock Healthcare Capital Partners.

Venrock Healthcare Capital Partners (VHCP) is a venture capital fund that invests in late-stage healthcare companies, both public and private. It mainly focuses on small publicly traded companies and biotechnology.

“Tubulis has distinguished itself in the ADC field with a forward-looking vision consistently backed by strong scientific data,” says Nimish Shah, Partner at Venrock Healthcare Capital Partners. “The company is now positioned to translate an exceptional preclinical foundation into meaningful clinical results, with several important readouts on the horizon.”

New investors like Wellington Management and Ascenta Capital participated in the round.

Existing investors, including Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, High-Tech Gründerfonds (HTGF), OCCIDENT, and Seventure Partners, also participated.

As a part of the funding round, Dr. Lorence Kim, Co-founder and Managing Partner at Ascenta Capital and Patrick Heron, Managing Partner at Frazier Life Sciences, will join Tubulis’ Supervisory Board.

“This milestone financing is a testament to the scientific strength and executional track-record of the Tubulis team,” adds Dr. Christian Grøndahl, Chair of the Supervisory Board of Tubulis. “The company has built a unique ADC platform and is now working on demonstrating its clinical impact. With the backing of experienced biotech investors, Tubulis is on a path towards solidifying its position as a global leader in the ADC landscape.”

Fund utilisation

The proceeds from the Series C financing will be used to expand the clinical development of TUB-040, the company’s lead antibody-drug conjugate (ADC) candidate for earlier treatment options and more types of tumours.

TUB-040 targets NaPi2b, an antigen that is overexpressed in ovarian cancer and lung adenocarcinomas.

TUB-040 is currently being evaluated in a Phase I/IIa study (NAPISTAR1-01, NCT06303505) in patients with platinum-resistant ovarian cancer (PROC) as well as relapsed or refractory non-small cell lung cancer and was granted Fast Track designation by the U.S. FDA in June 2024.

The funds will also help advance Tubulis’ other projects, including the ADC candidate TUB-030, various preclinical programs, and the development of new applications for their ADC technologies.

“This landmark financing round reflects the deep conviction these global healthcare investors have in Tubulis and the disruptive potential of our ADC platforms,” says Dr Dominik Schumacher, CEO and Co-founder of Tubulis.

Tubulis: Generating uniquely matched protein-drug conjugates

Tubulis generates uniquely matched antibody-drug conjugates with superior biophysical properties that have demonstrated durable on-tumour delivery and long-lasting anti-tumour activity in preclinical models.

The two lead programs in our growing pipeline, TUB-040, targeting NaPi2b, and TUB-030, directed against 5T4, are being evaluated in the clinic in high-need solid tumour indications.

“With TUB-040 progressing in the clinic and first data to be shared in a late-breaking oral presentation at ESMO, we are ready to expand into earlier treatment lines, while continuing to innovate across our pipeline and technology platforms. The new funding empowers us to execute on our vision of creating truly differentiated antibody-drug conjugates that are tailored to the biology of solid tumours and can deliver superior therapeutic value to patients,” adds Schumacher.