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last mo.

Tubulis Raises €308 Million Series C to Accelerate Lead Cancer ADC

The Venrock-led financing positions NaPi2b-targeting TUB-040 for earlier-line studies ahead of an Oct. 19 data update.

Ovarian cancer. Coloured scanning electron micrograph (SEM) of bone tissue from a teratoma tumour. Teratomas are malignant (cancerous) tumours that arise from the germ (sex) cells. Because germ cells are pluripotent, that is they can differentiate into any cell type, tumours contain a mixture of tissues. Bone, hair and teeth may form in the tumour. At centre is an osteoclast, a type of bone cell that degrades and reabsorbs bone tissue. Magnification: x5000 when printed at 10 centimetres wide.
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TUB-040 is undergoing a Phase I/IIa trial. Credit: Komsan Loonprom/Shutterstock.com.

Overview

  • The Munich-based biotech closed a €308 million round that brings total capital raised to roughly €495 million.
  • Proceeds will expand testing of TUB-040 into earlier treatment lines and additional tumor types while advancing Tubulis’ ADC platform and pipeline.
  • TUB-040 is in a Phase 1/2 study for platinum-resistant ovarian cancer and relapsed or refractory non-small cell lung cancer, and it targets NaPi2b.
  • An interim ovarian cancer readout is scheduled for Oct. 19 at an ESMO-related meeting in Berlin, with the company highlighting a proprietary linker aimed at reducing toxicity.
  • Venrock Healthcare Capital Partners led the round with participation from Wellington Management, Nextech Invest, EQT Life Sciences, Frazier Life Sciences and Ascenta Capital, and two new board members were named.