Venrock Healthcare Capital leads Series C for € 308 million at Tubulis

Berlin / Hamburg — YPOG advi­sed lead inves­tor Venrock Health­care Capi­tal Part­ners on the successful Series C finan­cing round of the Martin­s­ried-based biotech company Tubu­lis. The round amounts to EUR 308 million (USD 361 million) and is one of the largest private finan­cing rounds for a Euro­pean biotech company this year. 

In addi­tion to Venrock Health­care Capi­tal Part­ners, other well-known new inves­tors such as Welling­ton Manage­ment and Ascenta Capi­tal also parti­ci­pa­ted. Exis­ting inves­tors such as Nextech Invest, EQT Life Scien­ces, Frazier Life Scien­ces, Andera Part­ners, Deep Track Capi­tal, Bayern Kapi­tal, Fund+, HTGF, OCCIDENT and Seven­ture Part­ners also supported the round. 

Tubu­lis is deve­lo­ping a pipe­line of novel, indi­­ca­­tion-speci­­fic anti­body drug conju­ga­tes (ADCs) that are highly targe­ted and tole­ra­ble thanks to a combi­na­tion of proprie­tary plat­form tech­no­lo­gies and biolo­gi­cal exper­tise. The new funding will prima­rily be used to acce­le­rate the clini­cal deve­lo­p­ment of the lead ADC candi­date TUB-040 (for ovarian and lung cancer). TUB-040 is curr­ently in a Phase I/IIa trial and was gran­ted fast-track status by the US FDA in June 2024. In addi­tion, the funding will be used to expand Tubu­lis’ pipe­line, inclu­ding the clini­cal ADC candi­date TUB-030 (for advan­ced solid tumors) and seve­ral precli­ni­cal programs. The company also plans to expand its tech­no­logy plat­forms and estab­lish a US subsidiary. 

“Tubu­lis’ finan­cing round is a strong signal for the inno­va­tive power of the Euro­pean biotech ecosys­tem,” says Dr. Benja­min Ullrich, Co-Mana­­ging Part­ner at YPOG. “With the support of leading inter­na­tio­nal inves­tors such as Venrock Health­care Capi­tal Part­ners, a company is streng­the­ned that has the poten­tial to signi­fi­cantly change cancer therapy with its novel ADC tech­no­lo­gies. For YPOG, this is another exam­ple of our growing role at the inter­sec­tion of life scien­ces, deep tech and venture capital.” 

Legal advice was provi­ded in close coope­ra­tion with the US law firm Cooley under the leader­ship of James Schnei­der, part­ner in the Boston office.

Consul­tant Tubu­lis: YPOG

Dr. Benja­min Ullrich (Lead, Tran­sac­tions), Part­ner, Berlin
Stefan Rich­ter (Tax), Part­ner, Hamburg
Dr. Bene­dikt Flöter (IP/IT/Data Protec­tion), Part­ner, Berlin
Dr. Caro­lin Raspé (Corpo­rate Crime + Compli­ance + Inves­ti­ga­ti­ons), Part­ner, Munich
Dr. Emma Peters (Tran­sac­tions), Asso­cia­ted Part­ner, Berlin
Tobias Lovett (Tran­sac­tions), Asso­cia­ted Part­ner, Berlin
Pia Meven (Tran­sac­tions), Asso­cia­ted Part­ner, Berlin
Anna Eick­meier (IP/IT/Data Protec­tion), Senior Asso­ciate, Berlin
There­sia M.R. Hein­rich (Tran­sac­tions), Senior Asso­ciate, Berlin
Konstan­tina Natha­nail (IP/IT/Data Protec­tion), Asso­ciate, Berlin
Silke Ricken (Corpo­rate), Asso­ciate, Berlin
Dr. Chris­tian Busmann (Tax), Asso­ciate, Hamburg

About Venrock Health­care Capi­tal Partners

Venrock Health­care Capi­tal Part­ners (VHCP) is a heal­th­­care-focu­­sed venture capi­tal fund group concen­t­ra­ting on late-stage invest­ments. It invests prima­rily in publicly traded small cap and priva­tely held late stage compa­nies — parti­cu­larly in the health­care and life scien­ces sectors, with a special focus on biotech­no­logy. VHCP focu­ses on compa­nies that deve­lop and commer­cia­lize inno­va­tive products and tech­no­lo­gies. Further infor­ma­tion can be found at venrock.com.