Tubulis GmbH, a 2019 German university spin-out, is to be acquired by Gilead Inc for up to $5 billion – one of the larger biopharma transactions in Europe this year. Announced on 7 April, the deal involves an upfront payment of $3.15 billion and potential milestones of $1.85 billion for ownership of an early clinical-stage portfolio of antibody-drug conjugates (ADCs) for cancer. As part of the agreement, Tubulis’ scientists and other staff will remain at their current location in Munich which will serve as a hub for ADC innovation for Gilead as a whole. The US company’s chief executive, Daniel O’Day, said in a prepared statement that the takeover follows a two-year collaboration between the companies during which time Tubulis “has given us strong conviction in their programmes and research capabilities.”
Tubulis has two ADC programmes in early clinical development. The lead product, TUB-040, targets the antigen NaPi2B for the treatment of ovarian and non-small cell lung cancers. The second product, TUB-030, targets the antigen 5T4, which is over-expressed on solid tumours. The two programmes will complement Gilead’s own ADC for breast cancer, Trodelvy (sacituzumab govitecan). Trodelvy has been on the market in the US since 2020.
The traditional ADC consists of a monoclonal antibody attached by a chemical linker to a biologically active toxin. Once administered to a patient, the ADC binds to an antigen on the surface of a cancer cell and is internalised, after which the toxin is released to kill the cancer. Tubulis says that it has upgraded all three components of the ADC with the result that it can tailor the product to specific indications.
Since its founding in 2019 the company has raised significant amounts of venture finance. In 2020 it raised €10.7 million in a Series A round. This was followed in 2022 by a €60 million Series B round and in 2024 by a Series B2 round of €128 million. In October 2025 the company raised €308 million in a Series C financing, one of the largest rounds for a European biotechnology company at that time.
Copyright 2026 Evernow Publishing Ltd