Tubulis lands €308 million in record Series C to lead next-gen cancer drug race

Munich-based biotech Tubulis raised €308 million ($361M) in the largest Series C round for an active European biotech and the biggest-ever for a private ADC (antibody–drug conjugate) developer.

Why it matters: ADCs are reshaping cancer treatment, and Tubulis’ unique linker technology could deliver safer, more effective drugs, potentially disrupting the oncology market.

Backstory: Tubulis’ lead candidate, TUB-040, targets ovarian and lung cancers by delivering a potent topoisomerase inhibitor via a precisely engineered linker system. It’s in Phase I/IIa trials and holds FDA Fast Track status.

Big picture: With global investors backing the round, including Venrock, Wellington, and Ascenta, Tubulis now joins top ADC contenders like ProfoundBio and Adcendo. Its tech offers fine-tuned drug-antibody ratios with reduced toxicity risks, a major leap in ADC design.

Zoom in: Specifically, Tubulis' linker innovation allows for controlled, stable payload delivery while minimizing side effects. This technology pairs well with the global rights to an undisclosed antibody that Tubulis now holds on account of its deal with Biocytogen. This will likely be used to make a highly specific ADC, the details of which they have yet to reveal.