Tubulis

What Tubulis does

Tubulis was a privately held German biotechnology company headquartered in Planegg-Martinsried (Munich), founded around 2020 to develop next-generation antibody-drug conjugates (ADCs) for oncology. The company built an integrated platform suite spanning four proprietary technologies: P5 cysteine-selective conjugation chemistry based on ethynylphosphonamidates (originating from Prof. Christian Hackenberger's work at FMP Berlin), Tubutecan (a topoisomerase-I inhibitor linker-payload platform combining P5 conjugation with the exatecan payload and a protease-cleavable linker for DAR-8 ADCs), Alco5 (a platform enabling stable conjugation of hydroxy-containing payloads, including novel cytotoxins and protein degraders), and Tub-tag (site-specific enzymatic protein labeling via tubulin tyrosine ligase). Its wholly-owned pipeline comprised clinical-stage TUB-040 (NaPi2b-targeting, FDA Fast Track Designation in platinum-resistant ovarian cancer) and TUB-030 (5T4-targeting) plus five preclinical programs spanning conventional ADCs, Degrader Antibody Conjugates, and novel-payload candidates.

Tubulis operated a hybrid go-to-market model: it out-licensed proprietary platform technologies to large-pharma partners (Bristol Myers Squibb multi-target collaboration signed April 2023 with $22.75 million upfront plus over $1 billion in milestones; Gilead Sciences single-target option and license signed December 2024 with $20 million upfront, $30 million option exercise fee, and up to $415 million in milestones) while retaining control of its wholly-owned clinical and preclinical pipeline. Products are investigational and not yet approved; investigational ADCs are distributed exclusively through multicenter Phase I/IIa clinical trials in the US, UK, Spain, Belgium, Germany, and Canada.

In April 2026, Gilead Sciences announced a definitive agreement to acquire Tubulis for $3.15 billion in upfront cash plus up to $1.85 billion in contingent milestone payments (total up to $5 billion), and the transaction closed in May 2026. Following the acquisition, Tubulis operates as a dedicated ADC research organization within Gilead, with the Munich site serving as the Tubulis ADC Innovation Center. Pre-acquisition, the company had raised approximately €617 million cumulatively across a 2020 Series A, 2022 Series B, March 2024 Series B2, and October 2025 Series C, with the latter recognized as the largest Series C financing ever for a European biotechnology company and the largest for a private ADC developer globally.

Name

Tubulis

Legal name

Tubulis GmbH

Website

https://tubulis.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

101–250 employees

Short description

Tubulis was a Munich-based clinical-stage biotechnology company developing antibody-drug conjugates (ADCs) for solid tumors using proprietary P5, Tubutecan, Alco5, and Tub-tag conjugation technologies, advancing lead candidates TUB-040 and TUB-030 through Phase I/IIa trials; acquired by Gilead Sciences for up to $5 billion in 2026.

Ownership category

akta.pro rank

Product category

Antibody-Drug Conjugates (Oncology Biopharmaceuticals)

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

Keywords

• Antibody-drug conjugates
• Oncology biopharmaceuticals
• Cancer therapeutics development
• Bioconjugation platforms
• Targeted solid tumor therapy

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Licensing and Royalty Revenue: Tubulis generates revenue through strategic licensing agreements with pharmaceutical partners. The 2023 Bristol Myers Squibb agreement provided $22.75M upfront plus potential milestones over $1 billion and tiered royalties on net product sales. The December 2024 Gilead exclusive option and license agreement provided $20M upfront, $30M option exercise fee, and up to $415M in development and commercialization milestones plus tiered royalties on sales. Tubulis leads early-stage R&D and partners assume further development/commercialization.
2. Acquisition (Post-Gilead): In April 2026, Gilead Sciences acquired Tubulis for $3.15 billion upfront cash plus up to $1.85 billion in contingent milestone payments (total deal value up to $5 billion). Tubulis now operates as a dedicated ADC research organization within Gilead Sciences. Tubulis shareholders (including EQT Life Sciences exiting minority stake and Evotec receiving ~$100M from its 3.14% stake) received acquisition proceeds.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Tubulis develops uniquely matched antibody-drug conjugates (ADCs) for solid tumor oncology using proprietary conjugation, linker, and payload platforms. Its portfolio combines wholly-owned clinical and preclinical ADC candidates (TUB-040, TUB-030, TUB-050, TUB-060, DC-TB-118, DC-D-134, DC-P-234) built on the P5, Tubutecan, Alco5, and Tub-tag platforms, and includes strategic co-development partnerships with Bristol Myers Squibb and Gilead Sciences. Following its 2026 acquisition by Gilead Sciences, Tubulis operates as a dedicated ADC research organization within Gilead from its Munich headquarters.

Product overview

Tubulis is a clinical-stage German biotechnology company that develops uniquely matched antibody-drug conjugates (ADCs) for solid and hematologic tumors. Following its April 2026 acquisition by Gilead Sciences (announced 7 April 2026, closed later that quarter for $3.15B upfront plus up to $1.85B in milestones), Tubulis operates as a dedicated ADC research organization within Gilead from its Munich, Germany headquarters. Its offering follows a platform-plus-pipeline architecture: proprietary platform technologies — P5 Conjugation, Tubutecan, Alco5, and Tub-tag — feed a wholly-owned pipeline of ADC candidates including the clinical-stage lead TUB-040 (NaPi2b-targeting, Phase I/IIa) and TUB-030 (5T4-targeting, Phase I), plus preclinical programs TUB-050, TUB-060, DC-TB-118, DC-D-134 (a Degrader Antibody Conjugate), and DC-P-234 (a novel-payload program). The same platforms also support partnered ADC programs with Bristol Myers Squibb (multi-target collaboration, agreement signed 2023) and Gilead Sciences (single-target collaboration, option and license agreement signed December 2024).

Differentiator

Problem solved

Functional benefit

Brands

• Tubutecan: Tubulis' proprietary linker-payload platform combining P5 conjugation chemistry with the topoisomerase-I inhibitor exatecan, used to develop stable, highly targeted ADCs.
• Alco5
• P5 Conjugation

Products and services

• TUB-040 Lead antibody-drug conjugate candidate, a NaPi2b-targeting exatecan ADC built on Tubulis' Tubutecan linker-payload technology with a homogeneous DAR of 8, being evaluated in a multicenter Phase I/IIa study (NAPISTAR 1-01) in platinum-resistant high-grade ovarian cancer and relapsed/refractory adenocarcinoma NSCLC; granted FDA Fast Track designation for PROC.
• TUB-030 Second ADC candidate, a 5T4 (oncofetal antigen)-targeting exatecan ADC built on the Tubutecan platform with a homogeneous DAR of 8, being evaluated in a multicenter Phase I/IIa study (5-STAR 1-01) as monotherapy in advanced solid tumors; pan-cancer target addressing 13 of the 15 most fatal solid cancer types.
• TUB-050 Early-stage Tubutecan ADC candidate with an undisclosed target, directed at solid tumors; listed in the proprietary pipeline in discovery/preclinical stage.
• TUB-060 Early-stage Tubutecan ADC candidate with an undisclosed target, directed at solid tumors; listed in the proprietary pipeline in discovery/preclinical stage.
• DC-TB-118 Early-stage ADC candidate with an undisclosed target in solid tumors, leveraging the Tubutecan/P5 platform technology; listed in the proprietary pipeline in discovery/preclinical stage.
• DC-D-134 Early-stage Degrader Antibody Conjugate (DAC) candidate combining Tubulis' P5 conjugation with the Alco5 payload-conjugation platform to deliver protein-degrader payloads in solid tumors.
• DC-P-234 Early-stage ADC candidate exploring a novel payload class for solid tumors, leveraging the P5-Alco5 conjugation combination to deliver hydroxy-containing and previously inaccessible payloads.
• Tubutecan Linker-Payload Platform Proprietary topoisomerase-I inhibitor (TOP1i) linker-payload platform built on P5 conjugation chemistry with a protease-cleavable linker and exatecan; enables stable, homogeneous DAR-8 ADCs with superior serum linker stability, doubled intratumoral exatecan exposure vs. approved TOP1 ADCs, and minimal off-target toxicity; underpins TUB-040 and TUB-030.
• P5 Conjugation Technology Next-generation cysteine-selective conjugation chemistry based on ethynylphosphonamidates; enables ultra-stable, hydrophilic, high-DAR ADCs with antibody-like biophysical properties, superior serum linker stability vs. maleimide-based systems, and prevention of linker-payload transfer to endogenous serum proteins; underpins Tubutecan and Alco5 platforms.
• Alco5 Conjugation Platform Proprietary platform that enables stable antibody conjugation and intratumoral release of any hydroxy-containing payload, unlocking previously inaccessible payload classes including cytotoxins (e.g., SN38) and protein degraders while preserving favorable ADC properties.
• Tub-tag® Conjugation Platform Site-specific protein functionalization platform based on tubulin tyrosine ligase (TTL), enabling one-step enzymatic labeling of proteins and antibodies to generate homogenous, stable site-specific ADCs (e.g., anti-CD30 ADC TUB-010).
• Bristol Myers Squibb Multi-Target Collaboration Strategic license agreement granting Bristol Myers Squibb exclusive rights to develop and commercialize differentiated ADCs for solid tumors using Tubulis' Tubutecan payloads and P5 conjugation platform; Tubulis received $22.75M upfront, eligible for over $1B in milestones plus tiered royalties; first collaboration ADC entered the clinic in May 2025.
• Gilead Single-Target Collaboration Exclusive option and license agreement under which Tubulis and Gilead collaborate to develop a topoisomerase-I inhibitor-based ADC against a solid tumor target; Gilead has access to Tubutecan and Alco5 platforms; $20M upfront, $30M option exercise fee, up to $415M in milestones, plus tiered royalties (superseded by the April 2026 Gilead acquisition of the entire company).

Quantifiable outcome

• 59% Overall Response Rate (confirmed 50%, range 50-67%) at 1.67-3.3 mg/kg dose levels in heavily pre-treated platinum-resistant ovarian cancer patients (TUB-040 Phase I/IIa, NAPISTAR1-01)
• +5 more outcomes

Named customers2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered acquirer (ultimate), flagship strategic partner (pre-acquisition) and flagship strategic partner.

• Gilead Sciences (Acquirer)acquirer (ultimate)Strategic or Co-development Partner · 7 April 2026Definitive agreement to acquire Tubulis announced April 7, 2026; transaction closed May 24, 2026. Gilead acquires all outstanding equity for $3.15 billion in upfront cash consideration (cash-free, debt-free) plus up to $1.85 billion in contingent milestone payments (total deal value up to $5 billion). Tubulis operates as a dedicated ADC research organization within Gilead, with Munich site serving as Tubulis ADC Innovation Center. Gilead financed the transaction with cash on hand and senior unsecured notes.
• Gilead Sciencesflagship strategic partner (pre-acquisition)OEM/ Whitelabel/ Licensing Partner · 3 December 2024Exclusive option and license agreement (December 3, 2024) for discovery and development of an antibody-drug conjugate against a solid tumor target. Gilead gained access to Tubulis' proprietary Tubutecan and Alco5 platforms. Tubulis leads discovery and early-stage R&D; if Gilead exercises option, takes over further development and commercialization. Terms: $20M upfront payment + $30M option exercise fee + up to $415M in development/commercialization milestones + mid-single to low double-digit tiered royalties on sales. This agreement served as precursor to the April 2026 acquisition.
• Bristol Myers Squibbflagship strategic partnerStrategic or Co-development Partner · 20 April 2023Strategic license agreement (April 20, 2023) granting BMS exclusive rights to access Tubulis' Tubutecan payloads combined with P5 conjugation platform to develop a selected number of differentiated ADCs for solid tumors. Tubulis received $22.75M upfront and is eligible for over $1 billion in development, regulatory, and commercial milestone payments plus tiered royalties on net product sales. Tubulis provides linker-payload for each antibody target selected by BMS; BMS assumes sole responsibility for development, manufacturing, and commercialization. First collaboration Tubutecan ADC entered the clinic in May 2025, triggering milestone payment.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mersana Therapeutics: U.S.-based clinical-stage ADC developer using proprietary Dolasynthen and Immunosynthen platforms to generate site-specifically conjugated ADCs across oncology indications. Directly comparable to Tubulis as a clinical-stage platform ADC company developing multiple wholly-owned and partnered ADC candidates.
• Heidelberg Pharma: German clinical-stage ADC developer based near Munich using proprietary Amanitin-based payload technology (ATAC platform). Most direct geographic and stage competitor to Tubulis in the European ADC landscape, with comparable platform-plus-pipeline model.
• Bolt Biotherapeutics: U.S.-based clinical-stage company developing Boltbody Immune-Stimulating Antibody Conjugates (ISACs), combining tumor-targeting antibodies with immune-stimulatory payloads. Comparable clinical-stage ADC-adjacent modality developer.
• Pyxis Oncology: U.S.-based clinical-stage ADC developer with a pipeline of differentiated antibody-drug conjugates including Microtubule-Targeted and Topoisomerase-1 payload programs targeting solid tumors. Closely comparable as a clinical-stage ADC-focused oncology biotech.
• ProfoundBio: U.S.-based clinical-stage ADC developer with proprietary linker and conjugation technologies including a novel hydrophilic linker for high-DAR ADCs. Directly comparable platform approach to Tubulis' P5 chemistry and similar clinical-stage positioning.

Broad incumbents

• Daiichi Sankyo: Japanese pharmaceutical major and originator of the DXd ADC technology that powers Enhertu and Datroway (developed with AstraZeneca). Sets the commercial and clinical benchmark for Topoisomerase-1-inhibitor ADCs against which Tubulis' Tubutecan platform is differentiated.
• AstraZeneca: Global biopharmaceutical company with a leading ADC franchise developed in partnership with Daiichi Sankyo (Enhertu, Datroway). A broad incumbent with established commercial ADC infrastructure and an obvious potential acquirer/licensee for ADC developers with novel platforms.
• Innovent Biologics: China-based biopharmaceutical company with one of the largest China-originated ADC pipelines (multiple Top1i and bispecific ADCs in clinical development). Comparable broad incumbent actively building an ADC franchise, with capability to partner with or compete against Western ADC platforms.

Emerging players

• Araris Biotech: Swiss-based pre-clinical/early-clinical ADC developer with a proprietary linker technology enabling site-specific payload attachment without engineering antibodies. Comparable emerging platform peer with novel conjugation approach overlapping with Tubulis' P5 and Tub-tag platforms.
• Orum Therapeutics: Korean/U.S. clinical-stage ADC developer using novel payload classes including GSPT1 degraders. Comparable in focusing on expanding accessible payload classes beyond standard cytotoxins, overlapping with Tubulis' Alco5/DAC strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tubulis
• Xx.com/tubulis_gmbh

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors19 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tubulis