It all started with an email: The Tubulis story behind the 5 billion exit

The sender of the email almost exactly 10 years ago: Tubules-Co-founder Jonas Helma-Smets. After his time at Chromotek He remains at LMU to complete his doctorate and work in parallel on a new technology: a method for the targeted modification of proteins with application in antibody-drug conjugates (ADCs).

But in 2016, it was just an idea. There was a lack of money, equipment, and partners.

So Helma-Smets wrote directly to Philipp Baaske, co-founder of NanoTemper and current Vice President for Entrepreneurship at LMU. No formal pitch, no network behind the scenes – just a personal request for exchange and potential collaboration.

Looking back, Baaske believes that the person behind the idea is more important than the idea itself: someone who never stops believing in their idea. Or how Baaske as described in his LinkedIn post:

"Over the years I have seen how Jonas and Dominik have built Tubulis from the inside out."
The sleepless nights. The sacrifices. The moments when almost no one but themselves believed in the technology. That's the part no press release will ever capture. This is what 5 billion dollars actually looks like.”

Parallel at LMU: The path from research project to startup

Regardless, the Tubulis story began to gain momentum at LMU in 2015. Helma-Smets and co-founder Dominik Schumacher approached the LMU Spin-off Service program to further develop their idea and apply for funding, as startup manager [name omitted] told us. Michael Blind as told in the interview.

"They told me about their idea that they have technologies to produce improved ADCs, and that they are looking into starting a spin-off company and want to raise funding."

The path leads via classic funding programs such as the EXIST-Research transfer and later the M4 Award. This phase is demanding – not only scientifically, but also administratively. Grant applications must be prepared, business plans drawn up, and the technology's potential convincingly presented.

The focus is on a well-known problem in the ADC field: The connection between antibody and drug is often unstable and difficult to control.

Blind describes it like this:

"The problem is that the connection between antibodies and toxins using traditional methods is rather random. You can't control how many toxins are bound, the connections are unstable – and this leads to severe side effects."

This is exactly where Tubulis comes in.

"The core of the idea was a new technology that makes it possible to produce these conjugates in a stable and highly targeted manner."

For him, it was clear early on: This innovation has potential – also because there are already some major deals on the market that show how high the interest of the pharmaceutical industry is in such technologies.

From LMU spin-off to billion-dollar deal with Gilead

In 2020, Tubulis left the university and took the next step as an independent company. The first major Financing round of around ten million euros marks the transition from a research project to a scalable biotech startup.

Blind describes the founders as exceptionally focused:

"I always found them to be very goal-oriented. They pursued their goals with great commitment and passion. They focused on solving a core problem in the manufacturing process of these ADCs – and that was a real breakthrough in this field. Today, one would also call that a disruptive innovation."

An innovation that is attracting the interest of major pharmaceutical companies.

With the acquisition by Gilead, Tubulis finally reached a scale that is rare in Germany. For Blind, the deal is a "real milestone," not only for Munich, but also for Europe. He also sees it as sending a strong signal:

"This shows that such big stories can be realized not only in the USA, but also here in Germany and Europe."

More than just an exit: What the Tubulis story shows

And yet, it all begins with a single email. Not as part of a program. Not as a strategically planned step. But as a direct attempt to reach someone who could help. Alongside this: years of structured groundwork at the university – grant applications, validation, funding. The Tubulis story illustrates both: excellent science and the initiative to take the first step oneself.