Goodwin has advised Tubulis GmbH, a Munich-based clinical-stage biotechnology company, on its sale to Gilead Sciences, Inc.
Gilead has entered into a definitive agreement to acquire Tubulis to further strengthen its oncology pipeline, particularly in the field of antibody-drug conjugates (ADCs). The transaction enhances Gilead’s ADC capabilities by adding next-generation assets and platform technologies designed to deliver targeted therapies for patients.
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 and first clinical proof-of-concept in platinum-resistant ovarian cancer. The two lead programs from its growing pipeline, TUB-040, targeting NaPi2b, and TUB-030, directed against 5T4, are being evaluated in the clinic in high-need tumor indications. Tubulis’ lead asset, TUB-040, a NaPi2b-targeting ADC currently in clinical development for ovarian cancer and other tumors, will become part of Gilead’s oncology portfolio. In addition, Tubulis’ proprietary platform technologies, including its Tubutecan linker-payload technology, will complement Gilead’s existing research and development capabilities.
Tubulis will operate as a dedicated ADC research organization within Gilead, with its Munich site serving as a hub for ADC innovation.
Under the terms of the agreement, Gilead will acquire all outstanding equity of Tubulis for $3.15 billion in upfront cash consideration, with up to an additional $1.85 billion in contingent milestone payments. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.
The Goodwin team was led by Markus Käpplinger and included Robert Jochim and Nadine Gommel (all M&A, Munich), as well as Philipp Lauer (Tax, Munich).