Tubulis Closes €60 Million Series B Financing to Accelerate its ADC Pipeline and Expand its Breadth of Platform Technologies

Tubulis Closes €60 Million Series B Financing to Accelerate its ADC Pipeline and Expand its Breadth of Platform Technologies

MUNICH, GERMANY, May 3, 2022 – Tubulis today announced the successful completion of a €60 million (USD $63 million) Series B financing led by Andera Partners with participation from new investors Evotec and Fund+. All existing investors also participated in the round, including Bayern Kapital (with Wachstumsfonds Bayern 2), BioMedPartners, coparion, High-Tech Gründerfonds (HTGF), OCCIDENT and Seventure Partners. The new capital will be used to advance Tubulis’ proprietary pipeline of uniquely assembled antibody drug conjugates (ADCs), towards clinical evaluation as well as introduce programs addressing a range of solid tumor indications. The proceeds will enable the company to deliver the true therapeutic potential of ADCs through further innovation of novel payload classes and identification of new cancer targets.

“This funding emphasizes that Tubulis is uniquely positioned to consolidate the findings of the last 20 years in the ADC field and translate this understanding into meaningful therapeutic benefits for patients. We have reached an important inflection point in the development of our platform technologies as well as our pipeline of highly novel protein-drug conjugates and we are now focused on unlocking new avenues in the treatment of solid tumors bringing safe and effective ADCs to patients,” said Dominik Schumacher, PhD, CEO and co-founder of Tubulis. “With this capital in place, we will execute on our growth strategy, including important focus areas for our pipeline and for how we can apply our proprietary technologies, biologic insights and new mechanisms of action to enable the true therapeutic value inherent in targeted therapeutics.”

In conjunction with the round, Sofia Ioannidou, PhD, Partner at Andera Partners, Thomas Hanke, PhD, EVP, Head of Academic Partnerships at Evotec as well as Jan Van den Bossche, Partner at Fund+ will join Tubulis’ Board of Directors consisting of Sebastian Pünzeler, PhD, Principal at coparion, Dominik Schumacher, PhD, CEO of Tubulis and Christian Grøndahl, MD, DVM, PhD, MBA, the Chairman of the Board. In addition, Valentin Piëch, PhD, Partner at BioMedPartners will take over the board seat from Michael Wacker, PhD, General Partner at BioMedPartners. Biographies for all board members can be found on the website using the following link.

“With its unique toolkit of proprietary technologies and its pipeline of differentiated ADC candidates, Tubulis holds a compelling position in the ADC field,” stated Andera Partners’ Sofia Ioannidou, PhD. “We look forward to supporting this talented team in bringing innovative ADCs to patients and are confident that Tubulis has the potential to become a leader in the next era of ADC drug development.”

Tubulis’ capability of creating a pipeline of antibody-drug conjugates is based on a diverse range of targeting molecules, novel payloads and proprietary conjugation technologies. They enable the discovery of truly innovative ADCs that go beyond traditional payload classes and can increase antibody conjugation options via novel chemical groups leading to stable, high drug-to-antibody ratios. Tubulis has developed superior Topoisomerase-I linker-payloads with significantly improved pharmacokinetic properties and unique conjugation chemistry enabling access to a novel payload class that has been chemically challenging for conjugation in the past.

The company’s lead tumor-targeting assets build upon this technological breadth and are currently in preclinical development addressing several high unmet medical need indications. Tubulis’ pipeline also includes a program for hematological tumors, which is on the path towards IND-readiness. Tubulis remains focused on pairing novel payloads with disease-specific targets to tackle the five deadliest cancer indications globally.
Baker McKenzie (Julia Braun) served as counsel for new Series B investors and CMS (Stefan-Ulrich Müller) for 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 and Twitter.

About Andera Partners
Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €3.2 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion, Andera Croissance, Andera Co-Invest), sponsor-less transactions (Andera Acto) and ecological transition (Andera Infra).
Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which count nearly 90 professionals, of which 56 are investment professionals. It is structured as a partnership and managed by a board of 10 partners. Responsible and committed, the management company regularly forms partnerships with non-profit sector entities and takes concrete action in the fight against global warming. Andera Partners has been certified carbon neutral since 2018.
Andera’s 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies. For further information, please visit www.anderapartners.com.

About Bayern Kapital
Bayern Kapital GmbH based in Landshut was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank. As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria. Presently, Bayern Kapital manages thirteen investment funds with a total volume of around €700m. So far, it has invested roughly €350m in about 300 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology. In this way, more than 8000 long-term jobs in sustainable companies have been created in Bavaria. www.bayernkapital.de

About BioMedPartners
Based in Basel, Switzerland, BioMedPartners is an independent European venture capital firm that acts as lead- or co-lead investor providing private equity to early- to mid-stage life sciences companies.
Since 2002, BioMedPartners has invested in several highly innovative companies of which twenty-five have already either successfully been acquired by leading biopharma companies or have completed an IPO. With more than CHF 350 million in capital raised for Life Sciences exclusively and a strong team of experienced industry experts as well as an extensive scientific and pharma network, BioMedPartners has established itself as one of the leading early-stage human healthcare investors in Europe.
For further information please visit: www.biomedvc.com

About coparion
coparion provides venture capital to accelerate momentum and growth. With a current active fund of EUR 275m coparion has the means to do so. coparion supports entrepreneurial vision with know-how, but without intervening in daily business operations. Thanks to in-depth experience in venture capital and in building companies, the coparion team discerns potentials and opens up new perspectives. coparion only invests with co-investors. The fund invests up to EUR 10m per company, usually in several financing rounds of EUR 1-5m each. Investment focus is on German companies in the start-up and early growth phase. coparion is based in Cologne and Berlin. www.coparion.vc

About Evotec SE
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company’s multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this “Data-driven R&D Autobahn to Cures” for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,200 highly qualified people. The Company’s 15 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn.

About Fund+
Fund+ is a Belgian venture capital firm that invests in innovative European Life Sciences companies developing drugs, medical devices and diagnostics, with a strong focus on patient-centric approaches and major unmet medical needs. With over €200M in assets under management, Fund+ has built a strong track record since 2015, investing in 17 portfolio companies with two major exits. The fund is managed by a specialist team of seasoned life sciences professionals with healthcare industry, corporate finance and strategy consulting experience, supporting companies throughout their growth cycle. The company aims to maintain a leading position in the Life Sciences sector, creating sustainable value for its shareholders and a tangible impact on society.
For more information, please visit: www.fundplus.be

About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 650 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-
ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than EUR 4 billion into the HTGF portfolio via more than 1,900 follow-on financing rounds. HTGF has also successfully sold interests in more than 150 companies.
Fund Investors in the public-private partnership include the Federal Ministry for Economic Affairs and Climate Action, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies.
www.htgf.de/en

About OCCIDENT
OCCIDENT is an international venture capital investor with offices in Zug and Munich, is owner-managed and invests own wealth. Its aim is to make a positive contribution to society through sustainable and meaningful investments.
OCCIDENT invests in innovative deep tech start-ups with excellent technologies in the fields of life sciences, digital and high-tech with broad application possibilities and the potential for further value-generating developments. The geographic focus is Germany and Switzerland. The preferred stage for initial financing is from seed rounds or later and from 0.5 million euros. OCCIDENT distinguishes itself in particular by its in-depth knowledge of the technology and the versatile support offered to its portfolio companies by its competent team of experts. For more information, please visit www.occident.group.

About Seventure Partners
Seventure Partners is a long term equity investor who actively supports innovative companies aiming at generating positive impacts on Humankind, Society, Sustainability and the Planet.
With €900m net commitments under management as of the end of 2021, Seventure is a leading venture capital firm in Europe investing since 1997 in innovative businesses with high growth potential in 2 main fields: 1/Life sciences (Biotech, Health & digital Health, Nutrition, Foodtech, Blue Economy, Aquaculture, Animal & Agriculture, Sport & Wellness with a specific interest for MICROBIOME-related innovations…) across Europe, Israel, Asia and North America and 2/Digital technologies in Western Europe.
Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage, growth, pre-IPO and IPO.
With Health for Life Capital™ funds (160ME and 250ME) and its co-investments funds, Seventure is worldwide leader in microbiome investments with more than 20 microbiome companies in its portfolio to date.
For more details: http://www.seventure.fr/en Twitter: @seventurep

Contacts
For Tubulis
Dominik Schumacher, CEO & Co-Founder
Phone: + 49 (0) 89 2180 74233
Email: info@tubulis.com

Media Requests for Tubulis
Trophic Communications
Stephanie May or Laura Mittmann
Phone: +49 (0) 171 185 5682
Email: tubulis@trophic.eu