Tubulis announced the successful completion of an upsized and oversubscribed €128 million ($138.8 million) Series B2 funding round. This funding round was co-led by EQT Life Sciences and Nextech Invest, on behalf of one or more funds managed by it, with participation from Frazier Life Sciences and Deep Track Capital and all existing investors, such as Andera Partners, BioMedPartners, Fund+, Bayern Kapital (with ScaleUp-Fonds Bayern), Evotec, coparion, Seventure Partners, OCCIDENT and High-Tech Gründerfonds (HTGF).
The company has been developing a pipeline of uniquely matched antibody drug conjugates (ADCs) with an indication-tailored targeting molecule and payload combination for developing novel ADCs with superior properties. The proceeds of the Series B2 funding round will mostly support progress in Tubulis’ pipeline of next-generation ADCs toward clinical evaluation and help achieve clinical proof-of-concept for lead candidates TUB-040 and TUB-030.
TUB-040 addresses tumor-antigen Napi2b, a well-characterized target in ovarian and lung cancer. TUB-030 targets 5T4, which is an antigen often overexpressed in solid tumors.
The pre-clinical proof-of-concept data for these two candidates will be presented at the Annual Meeting of the American Association for Cancer Research (AACR) next month. And the company expects to start its first Phase 1/2a clinical trial, including dose escalation and dose optimization cohorts this year.
This funding round will also fund the expansion of Tubulis’ suite of technology platforms to unlock novel payloads for the development of versatile and customizable ADCs. With the addition of new US investors, Tubulis plans to increase its corporate footprint by setting up a subsidiary in the US.
In connection with the funding, Christoph Broja, Managing Director at EQT Life Sciences and Kanishka Pothula, Managing Partner at Nextech Invest will join Tubulis’ Supervisory Board.
Tubulis was launched with the goal of maximizing the overall performance of ADCs by addressing the main bottlenecks in the field through innovation in all aspects of ADC development. And the company created a unique suite of technologies that combine a wide range of targeting molecules, innovative payloads, and proprietary conjugation technologies to deliver transformative ADCs with superior and indication-tailored properties. The company’s platforms enable it to move beyond traditional payload classes and expand antibody conjugation options through novel chemical groups, resulting in stable, high drug-to-antibody ratios.
KEY QUOTES:
“This substantial financing from a syndicate of global specialist biotech investors recognizes Tubulis’ unique position in the ADC space. Our proprietary platform technologies and internal know-how are the foundation for our pipeline of truly differentiated protein-drug conjugates. Our goal is to establish Tubulis as a global ADC leader as we transition into a clinical-stage company and harness the full power of ADCs to bring their therapeutic value to patients with solid tumors.”
- Dominik Schumacher, PhD, CEO and Co-founder of Tubulis
“Recent developments in oncology underscore the significant potential of ADCs for the treatment of solid tumors. We are convinced that Tubulis will be at the forefront of this next wave of ADC therapeutics. The team continuously pushes the boundaries of ADC design and has developed an impressive set of platform technologies that give the company the full flexibility to tailor each component of the ADC to a specific indication. The company is on the path towards providing new, high-quality treatment options for many hard-to-treat cancers and we are excited to join their journey by providing strategic support in the next phase of corporate growth.”
- Kanishka Pothula, Managing Partner at Nextech Invest
“Dominik and the Tubulis team have developed highly differentiated ADC candidates that have the potential to significantly change the treatment paradigm in targeted solid tumor indications. We are looking forward to supporting the Tubulis team in realizing their vision of delivering the true value of ADCs by extending patient benefit and improving quality of life, said Christoph Broja, Managing Director at EQT Life Sciences. At EQT, we are focused on guiding the next global leaders in healthcare and Tubulis is well positioned to directly impact the future of oncology treatments.”
- John de Koning, Partner at EQT Life Sciences
