Baker McKenzie has advised EQT Life Sciences on the successful closing of a EUR 128 million (USD 138.8 million) Series B2 financing of Tubulis GmbH. The round was co-led by EQT Life Sciences and Nextech Invest Ltd, on behalf of one or more funds managed by it, with participation from new US-based funds, Frazier Life Sciences and Deep Track Capital as well as all existing investors, including Andera Partners, BioMedPartners, Fund+, Bayern Kapital (with ScaleUp-Fonds Bayern), Evotec, coparion, Seventure Partners, OCCIDENT and High-Tech Gründerfonds (HTGF).
The new capital will be used to accelerate the clinical development of Tubulis' solid tumour-targeted antibody drug conjugates (ADC) pipeline. Proceeds from the Series B2 will primarily support the advancement of Tubulis' pipeline of next-generation ADCs towards clinical evaluation and help to establish clinical proof-of-concept for lead candidates TUB-040 and TUB-030.
"Once again, thanks to our team of specialist corporate and life sciences lawyers, we were able to contribute to the success of a Series B2 financing round of Tubulis GmbH on the legal side, and thus to Tubulis' ability to further advance the development of its ADC pipeline", comments Julia Braun, LL.M., Baker McKenzie lead partner on the transaction.
Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Tubulis' goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication.
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago.
Baker McKenzie's Corporate/M&A and Life Sciences teams regularly advise pharmaceutical companies, financial and strategic investors and biotechnology companies on domestic and international transactions in the life sciences field. Most recently, Baker McKenzie advised, inter alia, Ariceum Therapeutics on the acquisition of UK based biotechnology company Theragnostics Ltd., the extension of Ariceum Therapeutics' Series A financing to EUR 47.75 million, Seamless Therapeutics on a USD 12.5 million financing and in-licensing from TU Dresden, Allecra Therapeutics on an exclusive licence and supply agreement with ADVANZ PHARMA, MODAG on a strategic collaboration with Teva, Chord Therapeutics in its sale to Merck KGaA, EQT Life Sciences (formerly 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, and Chr. Hansen Holding on the acquisition of Jennewein Biotechnologie.