Andera Partners / Key word(s): Financing
Andera Partners Reinvests in Tubulis' €308 million Series C to Accelerate Clinical Development of Lead ADC Candidate TUB-040 and Expand Pipeline
15.10.2025 / 11:10 CET/CEST
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Andera Partners Reinvests in Tubulis' €308 million Series C to Accelerate Clinical Development of Lead ADC Candidate TUB-040 and Expand Pipeline

• Andera Partners, which led the €60 million Series B financing in 2022, invests in the Series C round alongside lead investor Venrock Healthcare Capital Partners and other new investors Wellington Management and Ascenta Capital, as well as existing investors
• USD 361 million round represents the largest Series C for a European biotechnology company and the largest financing for a private ADC developer globally

Paris, France – October 15 ^th , 2025 – Andera Partners, a leading European private equity player, today announced that it participated in the €308 million (USD 361 million) Series C financing of its portfolio company Tubulis, underscoring Andera's continued support of the company's growth and clinical development progress. The round was led by Venrock Healthcare Capital Partners with participation from additional new investors Wellington Management and Ascenta Capital. Existing investors who supported the Series C in addition to Andera Partners include Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Deep Track Capital, Bayern Kapital, Fund+, High-Tech Gründerfonds (HTGF), OCCIDENT, and Seventure Partners.

The proceeds from the Series C financing will be used to expand the clinical development of TUB-040, Tubulis' lead antibody-drug conjugate (ADC) candidate, into earlier lines of therapy and additional tumor indications. TUB-040 targets NaPi2b, an antigen that is overexpressed in ovarian cancer and lung adenocarcinomas. TUB-040 is currently being evaluated in a Phase I/IIa study (NAPISTAR1-01, NCT06303505 ) in patients with platinum-resistant ovarian cancer (PROC) as well as relapsed or refractory non-small cell lung cancer and was granted Fast Track designation by the U.S. FDA in June 2024. The capital will also advance Tubulis' pipeline, including the clinical-stage ADC candidate TUB-030, several preclinical programs, and expand its proprietary ADC platform technologies to bring ADCs into novel applications.

“This landmark financing round reflects the deep conviction these global healthcare investors have in Tubulis and the disruptive potential of our ADC platforms,” said Dr. Dominik Schumacher, CEO and Co-founder of Tubulis .“With TUB-040 progressing in the clinic and first data to be shared in a late-breaking oral presentation at ESMO, we are ready to expand into earlier treatment lines, while continuing to innovate across our pipeline and technology platforms. The new funding empowers us to execute on our vision of creating truly differentiated antibody-drug conjugates that are tailored to the biology of solid tumors and can deliver superior therapeutic value to patients.”

Sofia Ioannidou, PhD, Partner at Andera Partners , added:“Already in 2022, we were convinced of Tubulis' talented team, its differentiated technology platforms, and its promising ADC candidates. We led the Series B round at a critical stage of the company's development, contributing to the foundations for the fantastic progress accomplished by Tubulis since then. The company is now at clinical stage on the cusp of delivering valuable results for patients. We are proud to see our portfolio company attracting a top-tier syndicate of investors in the largest ever Series C for a European biotechnology company.”

ABOUT TUBULIS

Tubulis generates uniquely matched antibody-drug conjugates with superior biophysical properties that have demonstrated durable on-tumor delivery and long-lasting anti-tumor activity in preclinical models. The two lead programs in our growing pipeline, TUB-040, targeting NaPi2b, and TUB-030, directed against 5T4, are being evaluated in the clinic in high-need solid tumor indications. We will solidify our leadership position by continuing to innovate on all aspects of ADC design leveraging our proprietary platform technologies. Our goal is to expand the therapeutic potential of this drug class for our pipeline, our partners and for patients. Visit or follow us on LinkedIn .

ABOUT ANDERA PARTNERS

Created almost 25 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €4.8 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).

Andera Partners' mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to our investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. Performance through collective engagement, the“Power of And”, constitutes Andera Partners' DNA.

Based in Paris, with offices in Antwerp, Madrid Milan and Munich, Andera Partners counts 130 professionals, of which 74 investment professionals.

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MEDIA CONTACTS

• Nicolas DELSERT, Andera Partners : +33 6 22 67 71 17, ...
• Dr. Cora KAISER, Dr. Johanna KOBLER, MC Services : +49 89 210 228 0, ...
• Paul SEBE, Bien Commun Advisory : +33 7 81 04 94 92 , ...

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