# Tubulis

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tubulis

- Industry: Biotechnology
- Headquarters: Munich, Germany
- Website: www.tubulis.com
- Total disclosed funding: $613M
- Latest round: Series C (Oct 22, 2025)
- Investors on record: 21

## About

Founded in 2016, Based in Germany, Tubulis GmbH is a biotechnology company focused on developing innovative antibody-drug conjugates (ADCs) for targeted cancer therapies, aiming to improve treatment efficacy while reducing harm to healthy cells. In October 2025, Tubulis GmbH raised EUR 344 million in Series C funding co-led by new investors Venrock Healthcare Capital Partners, Wellington Management, and Ascenta Capital, with participation from other new investors Fidelity Investments, Janus Henderson Investors, and Blackstone Multi-Asset Advisors. The round was part of larger EUR 652 million series C funding. This funding round values the company at EUR 466.586 mn post-money. Tubulis specializes in the development of innovative antibody-drug conjugates (ADCs), focusing on targeted cancer therapies. Their core product, TUB-030, is currently in a Phase I/IIa trial for advanced solid tumors. The technology uses antibodies to deliver cytotoxic agents directly to cancer cells, enhancing therapeutic efficacy while minimizing damage to healthy tissues. Tubulis' ADCs target oncologists and healthcare institutions in North America and Europe, and their strategic collaborations, such as a recent licensing agreement with BMS, expand their presence in the pharmaceutical landscape, addressing the needs of cancer patients and healthcare providers. Tubulis generates revenue through strategic partnerships and licensing agreements with established pharmaceutical companies. Their financial model includes upfront payments, milestone payments linked to developmental targets, and royalties from future sales of therapies. With TUB-030 advancing toward clinical use, the company is positioned for revenue generation through these collaborative frameworks, allowing them to secure funding while sharing the financial risks of drug development.

## Funding rounds

- Series C, Oct 22, 2025, $42M — Blackstone Group, Wellington Management, Fidelity Investments, Janus Henderson Investors, Ascenta Capital
- Series C, Sep 30, 2025, $359M — Frazier Healthcare Partners, Andera Partners, Seventure Partners, EQT Life Sciences, Wellington Management, Nextech, High-Tech Gruenderfonds, Bayern Kapital, Fund+, Venrock Healthcare Capital Partners, Deep Track Capital, Occident Group, Ascenta Capital, Mutua Ventures
- Series B, Dec 20, 2022, $136M — Andera Partners, Seventure Partners, BioMed Partners, Evotec SE, Bayern Kapital, Fund+, Coparion, Occident Group
- Series B, May 3, 2022, $63M — Andera Partners, BioMed Partners, Evotec SE, High-Tech Gruenderfonds, Bayern Kapital, Fund+, Occident Group, Coparion, HSM Limited
- Series A, Jun 23, 2020, $12M — BioMed Partners, High-Tech Gruenderfonds, Bayern Kapital, Occident Group, Coparion

## Investors

- BioMed Partners (https://capitalatlas.ai/funds/biomed-partners) — Series A, Series B
- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Series A, Series B, Series C
- Bayern Kapital (https://capitalatlas.ai/funds/bayern-kapital) — Series A, Series B, Series C
- Occident Group — Series A, Series B, Series C
- Coparion (https://capitalatlas.ai/funds/coparion) — Series A, Series B
- Andera Partners (https://capitalatlas.ai/funds/andera-partners) — Series B, Series C
- Evotec SE — Series B
- Fund+ (https://capitalatlas.ai/funds/fund) — Series B, Series C
- HSM Limited — Series B
- Seventure Partners (https://capitalatlas.ai/funds/seventure-partners) — Series B, Series C
- Frazier Healthcare Partners (https://capitalatlas.ai/funds/frazier-healthcare-partners) — Series C
- EQT Life Sciences (https://capitalatlas.ai/funds/eqt-life-sciences) — Series C
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series C
- Nextech (https://capitalatlas.ai/funds/nextech) — Series C
- Venrock Healthcare Capital Partners (https://capitalatlas.ai/funds/venrock-healthcare-capital-partners) — Series C
- Deep Track Capital (https://capitalatlas.ai/funds/deep-track-capital) — Series C
- Ascenta Capital (https://capitalatlas.ai/funds/ascenta-capital) — Series C
- Mutua Ventures (https://capitalatlas.ai/funds/mutua-ventures) — Series C
- Blackstone Group (https://capitalatlas.ai/funds/blackstone-group) — Series C
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series C
- Janus Henderson Investors — Series C