Tubulis announced the closing of a €308 million ($361 million) Series C financing round aimed at accelerating the clinical development of its lead antibody-drug conjugate (ADC) candidate, TUB-040. The round was led by Venrock Healthcare Capital Partners and joined by new investors Wellington Management and Ascenta Capital, along with continued support from existing backers Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, High-Tech Gründerfonds (HTGF), OCCIDENT, and Seventure Partners.
The funding will primarily be used to expand TUB-040’s clinical program into earlier lines of therapy and additional tumor types. TUB-040 targets NaPi2b, an antigen that is overexpressed in ovarian cancer and lung adenocarcinomas.
The candidate is currently in a Phase I/IIa study (NAPISTAR1-01, NCT06303505) involving patients with platinum-resistant ovarian cancer and relapsed or refractory non-small cell lung cancer. In June 2024, the U.S. Food and Drug Administration (FDA) granted Fast Track designation to TUB-040, underscoring its potential clinical importance.
The proceeds will also support Tubulis’ broader pipeline, including the clinical-stage ADC candidate TUB-030 and multiple preclinical programs. Additionally, the company plans to expand its proprietary ADC platform technologies to explore novel therapeutic applications, advancing its goal of developing next-generation ADCs that offer enhanced precision and efficacy against solid tumors.
Alongside the funding, Tubulis announced the appointment of Dr. Lorence Kim, Co-founder and Managing Partner at Ascenta Capital, and Patrick Heron, Managing Partner at Frazier Life Sciences, to its Supervisory Board. This expansion of governance reflects Tubulis’ growing investor base and strategic partnerships aimed at scaling its global leadership in ADC innovation.
Founded with the mission to redefine ADC design, Tubulis focuses on creating biophysically optimized conjugates that exhibit durable on-tumor delivery and long-lasting anti-tumor activity. The company’s lead programs, TUB-040 and TUB-030, are being evaluated for high-need solid tumor indications. With this new capital, Tubulis aims to solidify its position as a leader in the field of ADC therapeutics and deliver transformative treatments to patients worldwide.
KEY QUOTES:
“This landmark financing round reflects the deep conviction these global healthcare investors have in Tubulis and the disruptive potential of our ADC platforms. 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 tumors and can deliver superior therapeutic value to patients.”
Dr. Dominik Schumacher, CEO and Co-founder of Tubulis
“Tubulis has distinguished itself in the ADC field with a forward-looking vision consistently backed by strong scientific data. The company is now positioned to translate an exceptional preclinical foundation into meaningful clinical results, with several important readouts on the horizon. As Tubulis continues to expand its pipeline and build momentum, I’m excited to partner with the leadership team and Board to advance a new generation of ADC medicines for patients.”
Nimish Shah, Partner at Venrock Healthcare Capital Partners
“This milestone financing is a testament to the scientific strength and executional track-record of the Tubulis team. 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.”
Dr. Christian Grøndahl, Chair of the Supervisory Board of Tubulis
