Gilead to Acquire Tubulis to Enhance Oncology Portfolio with Potentially Best-in-Class ADC and Advanced Platform
Gilead Sciences has announced that it has entered into a definitive agreement to acquire Tubulis GmbH, a Germany-based clinical-stage biotech specializing in next-generation antibody-drug conjugates (ADCs). The transaction represents a major strategic move for Gilead as it continues to expand and diversify its oncology pipeline, with a particular focus on therapies designed to address areas of high unmet medical need.
The acquisition builds on an existing collaboration between the two companies and is expected to significantly strengthen Gilead’s capabilities in the rapidly evolving field of ADCs. These targeted therapies are designed to deliver potent cytotoxic agents directly to cancer cells while minimizing damage to healthy tissue, making them an increasingly important modality in modern oncology. By integrating Tubulis’ proprietary platforms and clinical-stage assets, Gilead aims to accelerate the development of more precise and effective cancer treatments.
At the core of the acquisition is Tubulis’ innovative ADC technology, which is engineered to improve the selective delivery of therapeutic payloads to tumors. The company has developed advanced conjugation platforms that enable the attachment of a wide range of payloads to antibodies with high stability and specificity. This approach is intended to enhance the therapeutic index of ADCs, maximizing efficacy while reducing off-target toxicity—a key challenge in the development of this class of therapies.
Among the assets included in the deal is TUB-040, a NaPi2b-targeted ADC that utilizes a topoisomerase I inhibitor payload. This investigational therapy is currently being evaluated in Phase 1b/2 clinical trials for patients with platinum-resistant ovarian cancer and non-small cell lung cancer (NSCLC), both of which represent significant areas of unmet need in oncology. Platinum-resistant ovarian cancer, in particular, is associated with poor prognosis and limited treatment options, underscoring the potential importance of new therapeutic approaches.
In addition to TUB-040, Gilead will acquire TUB-030, a 5T4-targeted ADC that has shown promising early clinical data across multiple solid tumor types. The 5T4 antigen is expressed in a range of cancers and is associated with tumor progression and metastasis, making it an attractive target for therapeutic intervention. Together, these assets form the foundation of a pipeline with broad applicability across various malignancies, complementing Gilead’s existing oncology portfolio.
Daniel O’Day, Chairman and Chief Executive Officer of Gilead Sciences, described the agreement as a significant milestone in the company’s oncology strategy. He emphasized that the acquisition not only brings a promising clinical-stage candidate for ovarian cancer but also adds a next-generation ADC platform and a robust early-stage pipeline. According to O’Day, the deal reflects Gilead’s commitment to building what he described as the strongest and most diverse oncology pipeline in the company’s history.
O’Day also highlighted the value of the prior collaboration between Gilead and Tubulis, which has spanned approximately two years. This partnership provided Gilead with firsthand insight into Tubulis’ scientific capabilities and the potential of its technology platforms. The positive data generated during this period reinforced Gilead’s confidence in the company’s approach and ultimately contributed to the decision to pursue a full acquisition.
From Tubulis’ perspective, the transaction represents an opportunity to scale its innovations within a global pharmaceutical organization. Dominik Schumacher, Ph.D., Chief Executive Officer and Co-founder of Tubulis, expressed enthusiasm about joining forces with Gilead. He noted that the company’s conjugation technologies were developed with the goal of having a broad impact across the ADC field, and that early clinical data—particularly from TUB-040—have validated this vision.
Schumacher emphasized that becoming part of Gilead will enable Tubulis to leverage extensive scientific expertise, global development infrastructure, and commercial capabilities. This integration is expected to accelerate the advancement of its ADC pipeline and facilitate the translation of innovative research into approved therapies for patients worldwide. He also acknowledged the contributions of the Tubulis team, board members, investors, and partners in achieving this milestone.
Following the completion of the transaction, Tubulis will continue to operate as a dedicated ADC research organization within Gilead. Its Munich-based site will serve as a center of excellence for ADC innovation, building on its integrated capabilities in discovery, manufacturing, and clinical development. This structure is designed to preserve the entrepreneurial and scientific strengths of Tubulis while benefiting from the resources and scale of a larger organization.
The financial terms of the agreement reflect the strategic importance of the acquisition. Under the terms of the deal, Gilead will acquire all outstanding equity of Tubulis for an upfront payment of $3.15 billion in cash, on a cash-free and debt-free basis, subject to customary adjustments. In addition, the agreement includes up to $1.85 billion in potential milestone payments, contingent on the achievement of specified development and commercial objectives. This brings the total potential value of the transaction to $5 billion.
The deal is subject to standard closing conditions, including regulatory approvals and the completion of customary filings. It is expected to close in the second quarter of 2026. Gilead has indicated that it plans to finance the acquisition through a combination of existing cash reserves and the issuance of senior unsecured notes, reflecting a balanced approach to funding the transaction.
Several prominent financial and legal advisors are supporting the deal. Centerview Partners LLC and Allen & Company LLC are acting as financial advisors to Gilead, while JPMorgan Chase (through its investment banking division) is serving as the exclusive financial advisor to Tubulis. Legal counsel for Gilead includes Covington & Burling LLP, Arnold & Porter LLP, and Venable LLP, while Tubulis is being advised by Goodwin Procter LLP and CMS Hasche Sigle.
Overall, the acquisition of Tubulis represents a significant expansion of Gilead Sciences’ oncology capabilities and underscores its commitment to innovation in cancer treatment. By integrating next-generation ADC technologies and a promising clinical pipeline, Gilead is positioning itself to address some of the most challenging cancers with more targeted and effective therapies. As the field of oncology continues to evolve, this transaction highlights the growing importance of precision medicine and the role of strategic partnerships and acquisitions in driving progress for patients worldwide.
About Tubulis
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 solid tumor indications.
Tubulis will solidify its leadership position by continuing to innovate on all aspects of ADC design leveraging its proprietary platform technologies. Tubulis’ goal is to expand the therapeutic potential of this drug class for its pipeline, partners and patients. Visit www.tubulis.com or follow us on LinkedIn .
About Gilead and Kite Oncology
Gilead and Kite Oncology are working to transform how cancer is treated. We are innovating with next-generation therapies, combinations and technologies to deliver improved outcomes for people with cancer. We are purposefully building our oncology portfolio and pipeline to address the greatest gaps in care. From antibody-drug conjugate technologies and small molecules to cell therapy-based approaches, we are creating new possibilities for people with cancer.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer and inflammation.
In 2025, Gilead announced a planned $32 billion investment to further strengthen its US footprint to power the next era of discovery, job creation and public health preparedness – while continuing to invest globally to ensure patients everywhere benefit from its scientific innovation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, Calif.
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