German ADC biotech Tubulis raises $138M to enter the clinic and expand in US

Munich-based Tubulis has brought in prominent European and US investors to back its work in antibody-drug conjugates, which have taken oncology R&D by storm.

The biotech raised $138.8 million in what it called a Series B2. The round gives Tubulis the financial flexibility to be open about its next steps, including the potential for an IPO in the US, co-founder and CEO Dominik Schumacher said in an interview with Endpoints News.

With the new money, Tubulis will enter human studies this year, gather clinical data to prove whether its first two ADCs are viable and expand its operations into the US. The biotech has yet to select the US city where it will locate, Schumacher said.

The financing comes a year after Tubulis inked a $1 billion-plus biobucks partnership with Bristol Myers Squibb, and about two years after a $63…
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