Overview

• Tubulis closed a €308 million round to push lead ADC TUB-040 forward in platinum-resistant ovarian cancer and relapsed or refractory non-small cell lung cancer, with an interim readout slated for Oct. 19 at ESMO.
• Venrock Healthcare Capital Partners led the financing, joined by Wellington Management, Nextech Invest, EQT Life Sciences, Frazier Life Sciences and Ascenta Capital.
• CEO Dominik Schumacher says TUB-040 uses a proprietary chemical linker designed to reduce toxicity that has challenged other ADCs targeting NaPi2b.
• Tubulis’ pipeline includes TUB-030 in a Phase 1 solid tumor study, and the company is collaborating with Bristol Myers Squibb and Gilead; a BMS-partnered ADC entered human testing earlier this year.
• The raise stands out as oncology venture funding cools, while interest in ADCs remains strong with TD Cowen estimating a $31 billion market by 2030 based on currently approved drugs.