Tubulis second closing of Series C brings total raised to $401 million

Germany-based biotech Tubulis today announced a second and final closing of its Series C round totaling 344 million euros ($401million).

The additional funds will enable the company to further accelerate its plans to initiate pivotal trials with lead antibody-drug conjugate (ADC) candidate TUB-040, explore earlier lines of treatment in ovarian cancer, and expand into combination regimens and new solid tumor indications. The combined capital will advance Tubulis’ pipeline, including the clinical-stage ADC candidate TUB-030, and several preclinical programs. In addition, it will allow Tubulis to stay at the forefront of innovation with its proprietary ADC platform technologies to access novel applications and further optimize the ADC modality.

“We are expanding our syndicate with prestigious investors who all have significant track-records and a strategic long-term focus.The combined group of funds enables us to accelerate our clinical development plans and further expand our global footprint,” said Dr Dominik Schumacher, chief executive and co-founder of Tubulis, adding: “We are now in a strong position to deliver on our goal - realizing the full potential of the ADC drug class for more patients.”