Gilead to Acquire Cancer Drug Developer Tubulis for Up to $5 Billion

Gilead Sciences has entered into a definitive agreement to acquire Tubulis GmbH, a Munich-based company focused on developing antibody-drug conjugates (ADCs) for cancer treatment. The transaction is valued at approximately $3.15 billion, with potential for up to $1.85 billion in success-based milestone payments.

Tubulis, founded in 2019 as a spin-off from Ludwig-Maximilians-Universität München (LMU), specializes in next-generation ADCs designed to deliver potent drugs more selectively to tumors. The company's technology aims to maximize therapeutic benefits while minimizing side effects for patients.

The acquisition includes Tubulis' lead product candidate, TUB-040, which targets a molecule prevalent in ovarian and lung cancers and is currently in Phase 1b/2 clinical trials. TUB-030, another drug candidate showing promising early data for various solid tumors, is also part of the transaction.

Central to Tubulis' product development is its proprietary P5 conjugation technology, which enables precise linking of antibodies to highly potent drugs. This technology was developed through collaborative research efforts involving LMU and the Leibniz Institute.

Following the closing, Tubulis will operate as an ADC research organization within Gilead, with Munich serving as a hub for ADC innovation. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals.