Tubulis Closes Upsized €128 Million Series B2 to Accelerate Clinical Development of Solid Tumor-Focused ADC Pipeline

March 14, 2024

  • Financing round co-led by EQT Life Sciences and Nextech Invest [1], with participation from current and new leading global biotechnology investors
  • Proceeds will support clinical evaluation of lead solid tumor ADC candidates, TUB-030 and TUB-040, further technology development and expansion into the US

MUNICH, GERMANY, March 14, 2024 – Tubulis today announced the successful completion of an upsized and oversubscribed €128 million ($138.8 million) Series B2 financing. The round was co-led by EQT Life Sciences and Nextech Invest Ltd, on behalf of one or more funds managed by it, with participation from new US-based funds, Frazier Life Sciences and Deep Track Capital as well as all existing investors, including Andera Partners, BioMedPartners, Fund+, Bayern Kapital (with ScaleUp-Fonds Bayern), Evotec, coparion, Seventure Partners, OCCIDENT and High-Tech Gründerfonds (HTGF). Tubulis is developing a pipeline of uniquely matched antibody drug conjugates (ADCs) with an indication-tailored targeting molecule and payload combination to develop novel ADCs with superior properties.

The proceeds of the Series B2 will primarily 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 and TUB-030 targets 5T4, an antigen often overexpressed in solid tumors. Preclinical proof-of-concept data for these two candidates will be presented at the Annual Meeting of the American Association for Cancer Research (AACR) in April. The company expects to start its first Phase 1/2a clinical trial, including dose escalation and dose optimization cohorts in 2024. The capital will also fund the expansion of Tubulis’ suite of technology platforms to unlock novel payloads for the development of versatile and customizable ADCs. In line with the addition of new US investors, Tubulis plans to increase its corporate footprint by establishing a US subsidiary.

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

In conjunction with the financing, Christoph Broja, Managing Director at EQT Life Sciences and Kanishka Pothula, Managing Partner at Nextech Invest will join Tubulis’ Supervisory Board. An overview of all members as well as their biographies can be found on the website using the following link.

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.

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

Tubulis was established 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. The company has created a unique suite of technologies that combine a diverse range of targeting molecules, innovative payloads, and proprietary conjugation technologies to deliver revolutionary ADCs with superior, indication-tailored properties. The company’s platforms allow it to move beyond traditional payload classes and expand antibody conjugation options through novel chemical groups, resulting in stable, high drug-to-antibody ratios.
[1] Nextech Invest Ltd, on behalf of one or more funds managed by it.

Management Team of Tubulis, from left: Dr. Günter Fingerle-Rowson, MD, CMO, Dr. Jonas Helma-Smets, CSO, Dr. Dominik Schumacher
CEO, Member of the Supervisory Board, Dr. Ingo Lehrke, CBO, and Dr. Björn Hock, CDO (Picture: Tubulis)

About Tubulis
Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Our goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication. Tubulis will build new conjugates to fill its growing pipeline and will continue to collaborate with industry partners to usher in a new ADC era and deliver better outcomes for patients. Visit www.tubulis.com or follow us on LinkedIn.

Dominik Schumacher, CEO & Co-Founder
Phone: + 49 (0) 175 800 5594 Email: contact@tubulis.com

Media Requests for Tubulis
Trophic Communications
Stephanie May, PhD
Phone: +49 (0) 171 185 56 82 Email: tubulis@trophic.eu

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.
More info: www.eqtgroup.com

Follow EQT Life Sciences on LinkedIn.

About Nextech Invest Ltd
Nextech is a global, cancer therapeutics-focused venture capital firm headquartered in Zurich, Switzerland. Nextech focusses almost exclusively on oncology therapeutics, and on helping to drive value creation for their portfolio companies. Nextech invests in the most promising drug discovery companies with the potential to create multiple medicines. Nextech’s portfolio is focused throughout the US and Europe with investments from company inceptions to crossover rounds. For more information, please visit: www.nextechinvest.com

About High-Tech Gründerfonds    
The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported more than 700 start-ups since 2005. With the launch of its fourth fund, HTGF now has about 1.4 billion euros under management. Its team of experienced investment managers and start-up experts support young companies with expertise, entrepreneurial spirit and passion. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have injected about 5 billion euros of capital into the HTGF portfolio via more than 2,000 follow-on financing rounds. In addition, HTGF has already successfully sold shares in more than 180 companies.
Fund investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital and 45 companies from a wide range of industries.

Media contact  
High-Tech Gründerfonds Management GmbH  
Tobias Jacob, Senior Marketing & Communications Manager 
T.: +49 228 – 82300 – 121 

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