Baker McKenzie advised BioMedPartners, a European independent life science investment fund on the lead of a Series A Equity Financing of € 10.7 million to advance the development of a new class of highly stable and efficient antibody-drug conjugates (ADCs) and to support the further growth of Tubulis, Munich. Further investors in the Series A are co-lead investor High-Tech Gründerfonds, Bayern Kapital, coparion, OCCIDENT and Seventure Partners alongside significant contributions by high net worth individuals and the Tubulis founders.
The proceeds will enable Tubulis to continue validating its platforms and to move the first two selected ADC candidates towards the clinic. Tubulis’ objective is to use a dual platform approach to generate uniquely matched and disease-specific ADCs that combine selective antibodies with effective payloads.
Baker McKenzie advised BioMedPartners on all legal aspects of the Series A equity financing round.
Julia Braun, Counsel who led the transaction, comments: "COVID-19 is a particularly peak time for our client and the entire industry. Together with our client and our team of specialized lawyers in the field of biotechnology and life sciences, we were able to successfully secure funds for further research in the healthcare sector with this transaction".
Based in Basel, Switzerland, BioMedPartners is an independent European venture capital firm that acts as lead-or co-lead investor providing private equity to early- to mid-stage life sciences companies. Since 2002, BioMedPartners has invested in several highly innovative companies of which twenty-two have already either successfully been acquired by leading biopharma companies or have completed an IPO. With more than CHF 350 million in capital under management and a strong team of experienced industry experts as well as an extensive scientific and pharma network, BioMedPartners has established itself as one of the leading early-stage human healthcare investors in Europe. In February 2018, the company announced the closing of BioMedInvest III, their third equity venture capital fund of CHF 100 million. In this third fund, BioMedPartners is focusing on the build-up of companies with highly innovative early stage assets and technology platforms.
Tubulis was spun-out in 2019 from the Leibniz-Forschungsinstitut für Molekulare Pharmakologie (FMP) in Berlin and the Ludwig Maximilians University (LMU) in Munich with the aim of expanding the therapeutic potential of ADCs for cancer and other disease indications. During the spin-out phase, Tubulis has already been recognized by several early-stage start-up awards including the Outstanding Start-up Award at Venture.Med 2019, the Leibniz Entrepreneurship Award as well as being an official EIT Health success story. Tubulis is an EIT Health Investor Network supported company.
Baker McKenzie's life science lawyers regularly advise big pharma, VC investors and early stage biotech's on domestic and international healthcare transactions. Most recently, Baker McKenzie advised CureVac on its strategic mRNA technology collaboration with GSK, LSP Life Science Partners as lead investor on the $38.5 million Series B Equity Financing of DNA Script, Galapagos on its 10 year global research and development collaboration with Gilead, MODAG on a € 12 million Series A Financing and in-licensing of a substance portfolio (Sery), Hitachi Chemical Company on the take-over of German apceth Biopharma, Europe's leading life science fund Forbion as lead investor on a € 17 million Series C Equity Financing of Omeicos Therapeutics, Mundipharma on the sale of its Limburg production site and Hillhouse Capital as co-investor in the € 50 million Series C cross-over financing of Hookipa Biotech.
Legal advisor to BioMedPartners:
Julia Braun (Corporate, Munich)
Dr. Katja Heuterkes (Corporate, Munich)
Michelle Karrer (Corporate, Munich)
Anahita Thoms, LL.M. (Foreign Investment Control, Frankfurt)
Dr. Matthias Köhler (Employment, Berlin)
Dr. Julia Schieber (Intellectual Property, Zurich)