Tubulis Secures $361M in Series C Funding, Advancing Next-Generation ADC Pipeline

German biotech company Tubulis has raised €308 million ($361 million) in a Series C funding round, marking one of the largest investments in the pharmaceutical industry this year. The financing will support the advancement of Tubulis' antibody-drug conjugate (ADC) pipeline, with a focus on expanding clinical development of its lead asset, TUB-040.

Funding Details and Investor Interest

The funding round was led by Venrock Healthcare Capital Partners, with participation from new investors Wellington Management and Ascenta Capital. Notable returning investors include EQT Life Sciences, Frazier Life Sciences, and Deep Track Capital, among others. This substantial investment comes at a time when oncology funding has seen a significant decline, with companies raising just over $810 million so far in 2025 compared to nearly $5 billion in 2024.

Dominik Schumacher, CEO and co-founder of Tubulis, stated, "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."

Clinical Pipeline and Technology Platform

Tubulis' lead candidate, TUB-040, targets the NaPi2b antigen and is currently in a Phase 1/2 trial for platinum-resistant ovarian cancer and relapsed or refractory non-small cell lung cancer (NSCLC). Interim data from this trial will be presented at the upcoming European Society for Medical Oncology (ESMO) meeting.

The company's proprietary Tubutecan platform combines therapeutic payloads with P5 conjugation technology, aiming to reduce toxicity while maintaining efficacy. This approach has attracted partnerships with major pharmaceutical companies, including Bristol Myers Squibb and Gilead Sciences.

TUB-030, another ADC in Tubulis' pipeline, targets the 5T4 protein and is currently in Phase 1 trials for solid tumors. The company also has several preclinical candidates, some of which are being developed in collaboration with industry partners.

Industry Impact and Future Directions

Tubulis' significant funding round and innovative approach to ADC development highlight the continued interest in this therapeutic modality, despite the overall decline in oncology investment. The company plans to use the new capital to expand its clinical programs, potentially moving into earlier treatment lines and new indications.

As ADCs become more widely used in cancer treatment, Tubulis is positioning itself to address emerging challenges, including drug resistance. The company's expansion, including new offices in Cambridge, Massachusetts, and planned operations in Lausanne, Switzerland, underscores its ambition to become a global leader in next-generation ADC development.