Andera Partners’ portfolio company Tubulis closes upsized €128 Million Series B2 to accelerate the development of its ADC Pipeline

Andera Partners’ portfolio company Tubulis closes upsized €128 Million Series B2 to accelerate the development of its ADC Pipeline

• Andera Partners participates in the €128 Million Series B2 financing of Tubulis co-led by EQT Life Sciences and Nextech Invest, with strong support from a global VC syndicate
• Proceeds will support clinical studies of lead solid tumor ADC candidates, TUB-030 and TUB-040, further technology development and expansion into the US

Paris, France – March 14, 2024 – Andera Partners’ portfolio company Tubulis today announced the successful completion of an upsized and oversubscribed €128 million ($138.8 million) Series B2 financing. The round was co-led by EQT Life Sciences and Nextech Invest Ltd, on behalf of one or more funds managed by it, with participation from new US-based funds, Frazier Life Sciences and Deep Track Capital as well as all existing investors, including Andera Partners, BioMedPartners, Fund+, Bayern Kapital (with ScaleUp-Fonds Bayern), Evotec, coparion, Seventure Partners, OCCIDENT and High-Tech Gründerfonds (HTGF). Tubulis is developing a pipeline of uniquely matched antibody drug conjugates (ADCs) with an indication-tailored targeting molecule and payload combination to develop novel ADCs with superior properties.

The proceeds of the Series B2 will primarily support progress in Tubulis’ pipeline of next-generation ADCs toward clinical evaluation and help achieve clinical proof-of-concept for lead candidates, TUB-040 and TUB-030. TUB-040 addresses tumor-antigen Napi2b, a well-characterized target in ovarian and lung cancer and TUB-030 targets 5T4, an antigen often overexpressed in solid tumors. Preclinical proof-of-concept data for these two candidates will be presented at the Annual Meeting of the American Association for Cancer Research (AACR) in April. The company expects to start its first Phase 1/2a clinical trial, including dose escalation and dose optimization cohorts in 2024. The capital will also fund the expansion of Tubulis’ suite of technology platforms to unlock novel payloads for the development of versatile and customizable ADCs. In line with the addition of new US investors, Tubulis plans to increase its corporate footprint by establishing a US subsidiary.

“This substantial financing from a syndicate of global specialist biotech investors recognizes Tubulis’ unique position in the ADC space. Our proprietary platform technologies and internal know-how are the foundation for our pipeline of truly differentiated protein-drug conjugates,” said Dominik Schumacher, PhD, CEO and Co-founder of Tubulis. “Our goal is to establish Tubulis as a global ADC leader as we transition into a clinical-stage company and harness the full power of ADCs to bring their therapeutic value to patients with solid tumors.”

“Attracting a group of transatlantic life sciences specialist investors in this oversubscribed round is a strong testament to the great science and the top execution at Tubulis. We are very pleased to have accompanied the company along this journey and excited to further provide our strong support in its new phase of growth which includes bringing novel ADC drugs to patients globally,” said Sofia Ioannidou, PhD, Partner at Andera Partners.

Tubulis was established with the goal of maximizing the overall performance of ADCs by addressing the main bottlenecks in the field through innovation in all aspects of ADC development. The company has created a unique suite of technologies that combine a diverse range of targeting molecules, innovative payloads, and proprietary conjugation technologies to deliver revolutionary ADCs with superior, indication-tailored properties. The company's platforms allow it to move beyond traditional payload classes and expand antibody conjugation options through novel chemical groups, resulting in stable, high drug-to-antibody ratios.

Also see: Andera Partners leads Tubulis’ €60 million Series B financing to advance its development of novel ADC platform and solid tumor drug pipeline.

ABOUT TUBULIS

Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Our goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication. Tubulis will build new conjugates to fill its growing pipeline and will continue to collaborate with industry partners to usher in a new ADC era and deliver better outcomes for patients. Visit www.tubulis.com or follow us on LinkedIn.

ABOUT ANDERA PARTNERS

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €4.1 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).

Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which count nearly  115 professionals, of which 69 investment professionals. It is structured as a partnership and managed by a board of 12 partners.

Andera’s 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies.

For further information please visit: www.anderapartners.com

MEDIA CONTACTS

• Nicolas DELSERT, Andera Partners: +33 6 22 67 71 17, n.delsert@anderapartners.com
• Dr. Cora KAISER, Dr. Johanna KOBLER, MC Services: +49 89 210 228 0, andera@mc-services.eu