Baker McKenzie advised life science investors Andera Partners, Evotec and Fund+ on the successful closing of a EUR 60 million (USD 63 million) Series B financing of Tubulis GmbH. All existing investors of Tubulis GmbH also participated in the round, including Bayern Kapital (with Wachstumsfonds Bayern 2), BioMedPartners, coparion, High-Tech Gründerfonds (HTGF), OCCIDENT and Seventure Partners.
The new capital will be used to advance Tubulis’ proprietary pipeline of uniquely assembled antibody drug conjugates (ADCs), towards clinical evaluation as well as introduce programs addressing a range of solid tumor indications. The proceeds will enable the company to deliver the true therapeutic potential of ADCs through further innovation of novel payload classes and identification of new cancer targets.
"Thanks to an excellently coordinated team of legal specialists, we were able to contribute to the success of this financing round on the legal side. As part of our advisory services, we can help contributing to Tubulis' development in the ADC field", comments Julia Braun, LL.M., lead partner on the transaction.
Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Their goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication.
Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €3.2 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion, Andera Croissance, Andera Co-Invest), sponsor-less transactions (Andera Acto) and ecological transition (Andera Infra). The Andera Life Sciences team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund.
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company’s multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products.
Fund+ is a Belgian venture capital firm that invests in innovative European Life Sciences companies developing drugs, medical devices and diagnostics, with a strong focus on patient-centric approaches and major unmet medical needs. With over €200M in assets under management, Fund+ has built a strong track record since 2015, investing in 17 portfolio companies with two major exits.
Baker McKenzie's Corporate / M&A and life science teams regularly advise big pharma, financial and strategic investors and early stage biotech companies on domestic and international healthcare transactions.
Most recently, Baker McKenzie advised Allecra Therapeutics on an exclusive license and supply agreement with ADVANZ PHARMA, MODAG on a strategic collaboration with Teva, Chord Therapeutics on its sale to Merck KGaA, LSP as lead investor on a EUR 20 million Series A Equity Financing in Innovative Molecules, Numab Therapeutics on a CHF 100 million Cross Over Financing, CatalYm on a EUR 50 million Series B financing led by Vesalius Capital, Casdin Capital on a USD 50 million extension of the Series B Equity Financing in DNA Script, and Chr. Hansen Holding on the acquisition of Jennewein Biotechnologie.
Legal advisor to Andera Partners, Evotec and Fund+:
Baker McKenzie
Lead:
Corporate/M&A: Julia Braun, LL.M. (partner, Munich)
Team:
Corporate/M&A: Berthold Hummel (partner, Munich), Julia Rossie (associate, Munich)
Transactional IP: Julia Schieber (senior associate, Zurich)
Foreign Trade Law: Alexander Ehrle, Kimberley Fischer (both associates, Berlin)
Employment Law: Matthias Köhler (partner, Berlin), Kerstin Schmiedel (associate, Berlin)