Andera Partners, Evotec and Fund+: EUR 60m Series‑B for Tubulis

Photo: Olivier Litzka, Part­ner in the Munich office of Andera Partners
12. May 2022

Munich, Germany — Life science inves­tors Andera Part­ners, Evotec and Fund+ are advi­sing on a EUR 60 million (USD 63 million) Series B finan­cing for Tubu­lis GmbH. All exis­ting inves­tors also parti­ci­pa­ted in the round, inclu­ding Bayern Kapi­tal (with Wachs­tums­fonds Bayern 2), BioMed­Part­ners, copa­rion, High-Tech Grün­der­fonds (HTGF), OCCIDENT and Seven­ture Partners.

The new capi­tal will be used to advance Tubu­lis’ proprie­tary pipe­line of uniquely assem­bled anti­­body-drug conju­ga­tes (ADCs) toward clini­cal evalua­tion and launch programs for a range of solid tumor indi­ca­ti­ons. The new capi­tal is expec­ted to enable the company to realize the true thera­peu­tic poten­tial of ADCs through further inno­va­tion in new drug clas­ses and the iden­ti­fi­ca­tion of novel cancer targets.

Tubu­lis uses proprie­tary tech­no­lo­gies to deve­lop novel drugs whose mecha­nisms of action go deep at the root cause of the dise­ase in ques­tion. The goal is to expand the thera­peu­tic poten­tial of anti­­body-drug conju­ga­tes (ADCs) to enable more targe­ted and effec­tive therapy of cancer as well as other diseases.

Andera Part­ners was foun­ded over 20 years ago and is a key player in private equity invest­ments inside and outside France. Andera teams manage more than €3.2 billion of invest­ment capi­tal in life scien­ces (Andera Life Scien­ces), growth and buyout capi­tal (Andera MidCap, Andera Expan­sion, Andera Crois­sance, Andera Co-Invest), non-spon­­sor tran­sac­tions (Andera Acto), and envi­ron­men­tal trans­for­ma­tion (Andera Infra). The Andera Life Scien­ces team has raised over €1.1 billion through the BioDis­co­very family of funds and is curr­ently inves­t­ing from the BioDis­co­very 6 fund.

Evotec is a life science company with a unique busi­ness model dedi­ca­ted to disco­ve­ring, deve­lo­ping and deli­ve­ring highly effec­tive thera­peu­tics to pati­ents. The company’s multi­mo­dal plat­form includes a unique combi­na­tion of inno­va­tive tech­no­lo­gies, data and science for the disco­very, deve­lo­p­ment and produc­tion of world-class phar­maceu­ti­cal products.

Fund+ is a Belgian venture capi­tal firm that invests in inno­va­tive Euro­pean life scien­ces compa­nies deve­lo­ping drugs, medi­cal devices and diagno­stics, with a focus on pati­ent-centric approa­ches and large unmet medi­cal needs. With over €200 million in assets under manage­ment, Fund+ has a solid track record since 2015, inves­t­ing in 17 port­fo­lio compa­nies with two major exits.

Andera Part­ners, Evotec and Fund+ were advi­sed on this tran­sac­tion by Baker McKenzie’s Corporate/M&A and Life Science teams. They regu­larly advise phar­maceu­ti­cal compa­nies, finan­cial inves­tors, stra­te­gic inves­tors and biotech­no­logy compa­nies on natio­nal and inter­na­tio­nal health­care tran­sac­tions. Most recently, Baker McKen­zie advi­sed, among others, Alle­cra Thera­peu­tics on an exclu­sive license and supply agree­ment with ADVANZ PHARMA, MODAG on a stra­te­gic colla­bo­ra­tion with Teva, Chord Thera­peu­tics on its sale to Merck KGaA, LSP as lead inves­tor in a EUR 20 million Series A equity finan­cing of Inno­va­tive Mole­cu­les, Numab Thera­peu­tics in a CHF 100 million cross-over finan­cing, Cata­lYm in a EUR 50 million Series B finan­cing led by Vesa­lius Capi­tal, Casdin Capi­tal as lead inves­tor in DNA Script’s USD 50 million exten­ded Series B equity finan­cing round, and Chr. Hansen Holding in its acqui­si­tion of Jenne­wein Biotechnology.

Legal Coun­sel Andera Part­ners, Evotec and Fund+: Baker McKenzie
Lead Part­ner Julia Braun, LL.M. (Part­ner, Munich); Corporate/M&A: Bert­hold Hummel (Part­ner, Munich), Dr. Julia Rossie (Asso­ciate, Munich)
Tran­sac­tional IP: Julia Schie­ber (Senior Asso­ciate, Zurich)
Foreign Trade Law: Alex­an­der Ehrle, Kimber­ley Fischer (both Asso­cia­tes, Berlin)
Employ­ment Law: Dr. Matthias Köhler (Part­ner, Berlin), Kers­tin Schmie­del (Asso­ciate, Berlin)

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