German biotech company Tubulis has raised €308 million in a record-breaking Series C funding round, marking the largest Series C ever closed by a European biotech and the biggest financing for a private antibody-drug conjugate (ADC) developer worldwide. The round was led by Venrock Healthcare Capital Partners, with participation from Wellington Management and Ascenta Capital, alongside existing investors including Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, OCCIDENT, Seventure Partners, and HTGF.
Founded in Munich, Tubulis specialises in developing uniquely matched ADCs that combine antibodies with potent drugs to target and destroy cancer cells with high precision. The new investment will accelerate the clinical development of its lead candidate, TUB-040, which targets NaPi2b, an antigen overexpressed in ovarian and lung cancers. Currently under evaluation in a Phase I/IIa study, TUB-040 received Fast Track designation from the U.S. FDA in 2024.
The fresh capital will also advance Tubulis’ broader pipeline, including TUB-030 and multiple preclinical programmes, as well as expand its proprietary ADC platform technologies. These innovations aim to unlock new therapeutic possibilities and improve outcomes for patients with solid tumours.
“This landmark financing round reflects the deep conviction these global healthcare investors have in Tubulis and the disruptive potential of our ADC platforms,” said Dr. Dominik Schumacher, CEO and Co-founder of Tubulis. “With TUB-040 progressing in the clinic and first data to be shared in a late-breaking oral presentation at ESMO, we are ready to expand into earlier treatment lines, while continuing to innovate across our pipeline and technology platforms. The new funding empowers us to execute on our vision of creating truly differentiated antibody-drug conjugates that are tailored to the biology of solid tumours and can deliver superior therapeutic value to patients.”
HTGF (High-Tech Gründerfonds), one of Tubulis’ earliest backers, renewed and expanded its commitment in this round. The investor co-led Tubulis’ Series A in 2020 and has supported the company from concept to clinical development, underlining Germany’s strength as a biotech innovation hub and its ability to mobilise private capital for capital-intensive technologies.
“HTGF was one of our earliest investors and supported us in shaping Tubulis during its formative years. Their renewed commitment in this round reflects the continued partnership and shared belief in our mission to expand the therapeutic potential of ADCs for patients worldwide,” said Dr. Dominik Schumacher, CEO and Co-founder of Tubulis.
Dr. Frank Hensel, Principal at HTGF, added: “Our relationship with Tubulis has always been built on trust and a shared ambition to redefine oncology treatment. This latest round, supported by leading global investors, validates the strength of the platform and the team. We are proud to continue backing Tubulis as it enters a pivotal phase of clinical development.”
Dr. Achim Plum, Managing Director at HTGF, said: “Tubulis’ Series C demonstrates that even highly capital-intensive, disruptive technologies can attract the private funding needed to bring cutting-edge therapies to patients. For us at HTGF, Tubulis is a prime example of how we operate: we engage very early, often before a company is founded, and build trusted relationships with exceptional teams. This story reflects our belief in scientific excellence, entrepreneurial vision, and the impact that can be achieved when both come together. Congratulations to the entire Tubulis team on this outstanding success.”
Tubulis’ breakthrough ADC technologies have positioned it as one of Europe’s most promising biotech players. By combining world-class science, clinical progress, and global investor confidence, the company continues to advance its mission of expanding the therapeutic potential of ADCs for cancer patients worldwide.