- Andera Partners participates in the €128 Million Series B2 financing of Tubulis co-led by EQT Life Sciences and Nextech Invest, with strong support from a global VC syndicate
- Proceeds will support clinical studies of lead solid tumor ADC candidates, TUB-030 and TUB-040, further technology development and expansion into the US
Andera Partners’ portfolio company 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,” said Dominik Schumacher, PhD, CEO and Co-founder of Tubulis. “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.”
“Attracting a group of transatlantic life sciences specialist investors in this oversubscribed round is a strong testament to the great science and the top execution at Tubulis. We are very pleased to have accompanied the company along this journey and excited to further provide our strong support in its new phase of growth which includes bringing novel ADC drugs to patients globally.” said Sofia Ioannidou, PhD, Partner at Andera Partners.
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.