Tubulis GmbH, a German company with a portfolio of antibody-drug conjugates, has raised €308 million in a Series C financing round in what is being described as the largest C round for a European biotechnology company and the biggest financing globally for a private ADC developer. Announced on 15 October, the round was led by Venrock Healthcare Capital Partners with participation from additional new investors Wellington Management and Ascenta Capital. Proceeds from the round will be used to accelerate development of the company’s lead product, TUB-040, which entered the clinic 16 months ago. TUB-040 is currently being investigated in patients with ovarian cancer and lung adenocarcinoma. The goal is to expand its reach into earlier lines of therapy and additional tumour indications.
“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,” Dominik Schumacher, the company’s chief executive and co-founder, said in a prepared statement.
The ADC construct has taken decades to develop. But intensive research on components of the product, such as the chemical compound that links the delivery vehicle, an antibody, to the toxic payload, has yielded results with an increasing number of companies entering the field. . Tubulis says that its ADCs have “superior biophysical properties” relative to those of other companies. This was on the basis of preclinical studies. The company now has clinical data which was disclosed on 19 October at the European Society for Medical Oncology meeting in Berlin. These showed that TUB-040 achieved an overall response rate of 59% and a disease control rate of 96% with responses occurring early and deepening over time.
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