Just a few weeks after the announcement of the conclusion of a Record funding round Tubulis pulls off another coup. The biotech company increases its Series C funding by a further 36 million euros in the second closing, bringing the total volume to 344 million euros.
The second closing brought additional new investors on board: Fidelity Management & Research Company, Janus Henderson Investors, and Blackstone Multi-Asset Investing. They joined the consortium led by Venrock Healthcare Capital Partners. Wellington Management and Ascenta Capital also invested. Existing investors who supported the Series C funding round include Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, Occident, Seventure Partners, and High-Tech Gründerfonds (HTGF).
Tubulis aims to fully exploit its potential.
The additional funds are intended to support the clinical development of Antibody-drug conjugates (ADCs) to further advance this approach. It involves a treatment for cancer that attacks cancer cells more precisely, efficiently, and with fewer side effects than conventional therapies. The leading ADC candidate, TUB-040, targets the NaPi2b antigen, which is found in ovarian and lung adenocarcinomas. Tubulis plans to initiate pivotal trials, explore previous lines of treatment, and investigate new combination therapies. The pipeline will also be expanded with TUB-030 and additional preclinical programs.
“We are expanding our consortium with renowned investors, all of whom have a significant track record and a long-term strategic perspective. The combined funds will enable us to accelerate our clinical development plans and further expand our global footprint. We are now in a strong position to achieve our goal – to unlock the full potential of the ADC drug class for more patients.”
explained Dominik Schumacher, CEO and co-founder of Tubulis.
