Tubulis, a leading biotechnology company focused on developing next-generation antibody-drug conjugates (ADCs), today announced the successful closing of a €308 million (USD 361 million) Series C financing round — one of the largest private financings in the European biotech sector this year. The round was led by Venrock Healthcare Capital Partners, with strong participation from new investors Wellington Management and Ascenta Capital, alongside continued support from existing backers 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.
Fueling Clinical Expansion and Innovation in ADC Therapeutics
The new capital will primarily accelerate the clinical development of TUB-040, Tubulis’ lead ADC candidate, which targets NaPi2b, a membrane transporter protein highly expressed in ovarian cancer and lung adenocarcinomas. TUB-040 is currently under evaluation in an ongoing Phase I/IIa clinical trial (NAPISTAR1-01, NCT06303505) for patients with platinum-resistant ovarian cancer (PROC) and relapsed or refractory non-small cell lung cancer (NSCLC). The program received Fast Track designation from the U.S. Food and Drug Administration (FDA) in June 2024, underscoring its potential to address significant unmet medical needs.
With this financing, Tubulis plans to expand TUB-040 into earlier lines of therapy and explore additional tumor indications, while also advancing other pipeline candidates — including TUB-030, another clinical-stage ADC — and several promising preclinical programs. The funds will further support the refinement and scaling of Tubulis’ proprietary ADC platform technologies, aimed at expanding ADC applications into new therapeutic areas.
Advancing a New Generation of Tailored ADCs
“This landmark financing round reflects the deep conviction these global healthcare investors have in Tubulis and the disruptive potential of our ADC platforms,” said Dr. Dominik Schumacher, CEO and Co-founder of Tubulis. “With TUB-040 progressing in the clinic and first data to be presented in a late-breaking oral session at ESMO, we’re ready to move into earlier treatment settings. This funding enables us to continue innovating across our pipeline and technology platforms, executing our vision of developing truly differentiated ADCs that are tailored to the biology of solid tumors and capable of delivering superior therapeutic value to patients.”
Tubulis’ proprietary ADC platforms integrate advanced linker-payload chemistries, optimized conjugation processes, and a deep understanding of tumor biology. This allows for the creation of stable, highly selective ADCs with the potential for improved efficacy and safety compared to traditional designs. The company’s dual-platform approach provides flexibility to target diverse tumor types, supporting a broad pipeline of ADC therapeutics across oncology indications.
Strategic Investor Confidence and Board Strengthening
“Tubulis has distinguished itself in the ADC field with a forward-looking vision consistently backed by robust scientific data,” said 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. As Tubulis continues to expand its pipeline and build momentum, I’m thrilled to partner with the leadership team and Board to advance a new generation of ADC medicines for patients.”
As part of the financing round, Dr. Lorence Kim, Co-founder and Managing Partner at Ascenta Capital, and Patrick Heron, Managing Partner at Frazier Life Sciences, will join the company’s Supervisory Board. The expanded board, which includes distinguished leaders from biotech and venture capital, is expected to strengthen Tubulis’ governance and strategic decision-making as it scales globally.
Positioning Tubulis as a Global ADC Leader
“This milestone financing is a testament to the scientific strength and executional excellence of the Tubulis team,” said Dr. Christian Grøndahl, Chair of the Supervisory Board of Tubulis. “The company has built a unique ADC platform and is now demonstrating its potential clinical impact. With the backing of experienced biotech investors, Tubulis is well positioned to solidify its leadership in the global ADC landscape.”
Since its founding, Tubulis has established itself as a pioneer in ADC design and development, combining innovative chemistry and biology to generate highly stable, tumor-selective therapeutics. Its technologies address many limitations of conventional ADCs — such as linker instability, off-target toxicity, and limited payload diversity — paving the way for safer, more effective treatments across a range of cancers.
The Series C proceeds will also support manufacturing scale-up, regulatory readiness, and clinical operations, ensuring Tubulis is equipped to deliver on its ambitious development and commercialization goals. With a robust pipeline and strong investor backing, Tubulis is set to advance its mission of transforming cancer therapy through precision-engineered ADC medicines.
