Just a few weeks after announcing the closure of a record-breaking financing round, Tubulis pulls off its next coup. The biotech increases its series C in the second closing by an additional 36 million euros to a total volume of 344 million euros.
The second closing brought further new investors on board: Fidelity Management & Research Company, Janus Henderson Investors, and Blackstone Multi-Asset Investing. They joined the consortium led by Venrock Healthcare Capital Partners. Additionally, Wellington Management and Ascenta Capital invested. Existing investors who supported the series C include Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, Occident, Seventure Partners, and the High-Tech Gründerfonds (HTGF).
Tubulis wants to unlock full potential
The additional funds are intended to further advance the clinical development of antibody-drug conjugates (ADCs). This is a treatment form for cancer that attacks cancer cells more precisely, efficiently, and with fewer side effects than conventional therapeutics. The lead ADC candidate TUB-040 targets the antigen NaPi2b with its active ingredient, which occurs in ovarian cancer and lung adenocarcinomas. Tubulis plans to initiate registration-enabling studies, explore earlier lines of treatment, and assess new combination therapies. Additionally, the pipeline is to be expanded with TUB-030 and further preclinical programs.
“We are expanding our consortium with renowned investors who all have a significant track record and strategic long-term commitment. The combined funds enable us to accelerate our clinical development plans and further expand our global presence. We are now in a strong position to achieve our goal – to unlock the full potential of the ADC drug class for more patients”,
explains Dominik Schumacher, CEO and co-founder of Tubulis.
