🏆 Deal of the Week · CW 42/2025
Tubulis raised EUR 308 million in a Series C round; the company's post-money valuation was not disclosed. The round was led by Venrock Healthcare Capital Partners, with participation from Wellington Management and Ascenta Capital alongside a broad group of existing investors.
Tubulis — key deal facts
| Company | Tubulis |
| Founded | 2012 |
| Headquarters | Munich, Germany |
| Amount raised | EUR 308m |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | Led by Venrock Healthcare Capital Partners, with participation from Wellington Management and Ascenta Capital, alongside existing investors including Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, OCCIDENT, Seventure Partners, and HTGF. |
| Sectors | Biotechnology |
Who invested in Tubulis?
The syndicate includes Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, OCCIDENT, Seventure Partners, and HTGF. The investor mix is notable for combining transatlantic crossover funds—Venrock Healthcare Capital Partners and Wellington Management—with European life-sciences specialists and public-sector backers such as Bayern Kapital and HTGF, reflecting strong institutional confidence in Tubulis's ADC platform across geographies.
What does Tubulis do?
Tubulis is a Munich-based biotechnology company founded in 2020 as a spin-out from German research institutes. The company develops next-generation antibody-drug conjugates (ADCs) designed to treat solid and hematologic tumors. Its lead investigational assets are TUB-040, which targets the NaPi2b antigen, and TUB-030, which targets 5T4. Tubulis was co-founded by CEO Dr. Dominik Schumacher and CSO Dr. Jonas Helma-Smets and operates from Planegg-Martinsried in the greater Munich area.
Tubulis valuation & multiples
Explore the benchmarks: Series C.
Frequently asked questions
How much did Tubulis raise in its Series C?
Tubulis raised EUR 308 million in its Series C round, announced in October 2025.
What is Tubulis's valuation?
Tubulis's post-money valuation was not disclosed as part of the Series C announcement.
Who invested in Tubulis?
The Series C was led by Venrock Healthcare Capital Partners, with Wellington Management and Ascenta Capital joining as new investors, alongside existing backers including Nextech Invest, EQT Life Sciences, Frazier Life Sciences, Andera Partners, Deep Track Capital, Bayern Kapital, Fund+, OCCIDENT, Seventure Partners, and HTGF.
When was Tubulis founded and where is it based?
Tubulis was founded in 2020 and is headquartered in Munich (Planegg-Martinsried), Germany.
Source: original announcement — read the full report.