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