• USD 361 million round represents the largest Series C for a European biotechnology company and the largest financing for a private ADC developer globally
• Round led by Venrock Healthcare Capital Partners with participation from other new investors Wellington Management and Ascenta Capital, as well as existing investors
MUNICH, GERMANY, October 15, 2025 – Tubulis today announced the successful closing of a €308 million
(USD 361 million) financing. The round was led by Venrock Healthcare Capital Partners with participation from addiIonal new investors Wellington Management and Ascenta Capital. Existing investors who supported the Series C include Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, High-Tech Gründerfonds (HTGF), OCCIDENT, and Seventure Partners.
The proceeds from the Series C financing will be used to expand the clinical development of TUB-040, Tubulis’ lead anIbody-drug conjugate (ADC) candidate, into earlier lines of therapy and addiIonal tumor indicaIons. TUB-040 targets NaPi2b, an anIgen that is overexpressed in ovarian cancer and lung adenocarcinomas. TUB-040 is currently being evaluated in a Phase I/IIa study (NAPISTAR1-01, NCT06303505) in paIents with plaInum-resistant ovarian cancer (PROC) as well as relapsed or refractory non-small cell lung cancer and was granted Fast Track designaIon by the U.S. FDA in June 2024. The capital will also advance Tubulis’ pipeline, including the clinical-stage ADC candidate TUB-030, several preclinical programs, and expand its proprietary ADC plaform technologies to bring ADCs into novel applicaIons.
“This landmark financing round reflects the deep convicIon these global healthcare investors have in Tubulis and the disrupIve potenIal of our ADC plaforms,” said Dr. Dominik Schumacher, CEO and Cofounder of Tubulis. “With TUB-040 progressing in the clinic and first data to be shared in a late-breaking oral presentaIon at ESMO, we are ready to expand into earlier treatment lines, while conInuing to innovate across our pipeline and technology plaforms. The new funding empowers us to execute on our vision of creaIng truly differenIated anIbody-drug conjugates that are tailored to the biology of solid tumors and can deliver superior therapeuIc value to paIents.”
“Tubulis has disInguished itself in the ADC field with a forward-looking vision consistently backed by strong scienIfic data,” said Nimish Shah, Partner at Venrock Healthcare Capital Partners. “The company is now posiIoned to translate an excepIonal preclinical foundaIon into meaningful clinical results, with several important readouts on the horizon. As Tubulis conInues to expand its pipeline and build momentum, I’m excited to partner with the leadership team and Board to advance a new generaIon of ADC medicines for paIents.”
In conjuncIon with the financing, Dr. Lorence Kim, Co-founder and Managing Partner at Ascenta Capital and Patrick Heron, Managing Partner at Frazier Life Sciences, will join Tubulis’ Supervisory Board. An overview of all Supervisory Board members and their biographies can be found here.
“This milestone financing is a testament to the scienIfic strength and execuIonal track-record of the Tubulis team,” added Dr. ChrisIan Grøndahl, Chair of the Supervisory Board of Tubulis. “The company has built a unique ADC plaform and is now working on demonstraIng its clinical impact. With the backing of experienced biotech investors, Tubulis is on a path towards solidifying its posiIon as a global leader in the ADC landscape.”
About Tubulis
Tubulis generates uniquely matched anIbody-drug conjugates with superior biophysical properIes that have demonstrated durable on-tumor delivery and long-lasIng anI-tumor acIvity in preclinical models. The two lead programs in our growing pipeline, TUB-040, targeIng NaPi2b, and TUB-030, directed against 5T4, are being evaluated in the clinic in high-need solid tumor indicaIons. We will solidify our leadership posiIon by conInuing to innovate on all aspects of ADC design leveraging our proprietary plaform technologies. Our goal is to expand the therapeuIc potenIal of this drug class for our pipeline, our partners and for paIents. Visit www.tubulis.com or follow us on LinkedIn.
About Venrock Healthcare Capital Partners.
Venrock Healthcare Capital Partners (VHCP) is a healthcare-focused, late-stage venture capital fund family that invests primarily in publicly-held and late-stage private companies within the healthcare and life sciences industries, with a strong emphasis on small-cap public companies and biotechnology. VHCP focuses on companies developing and commercializing innovaIve products and technologies. For more informaIon, please visit www.venrock.com.
About Ascenta Capital
Ascenta Capital is a biotech venture fund, co-founded in 2023 by Dr. Evan Rachlin and Dr. Lorence Kim. The fund is focused on a concentrated porfolio of investments in mulI-product companies. For more informaIon about Ascenta Capital, visit www.ascentacap.com.
About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.3 trillion, as of 30 September 2025, for pensions, endowments and foundaIons, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combinaIon of independence enabled by its disIncIve private partnership model, diverse perspecIves through its unified, mulI-asset investment plaform, and relentless curiosity and intellectual rigor fostered by its enduring collaboraIve culture.
Contacts
For Tubulis
Dominik Schumacher, CEO & Co-founder
Phone: +49 (0) 175 800 5594
Email: contact@tubulis.com
Media Requests for Tubulis
Trophic Communications
Stephanie May, PhD
Phone: +49 (0) 171 185 56 82
Email: tubulis@trophic.eu