Munich – CMS has advised Tubulis GmbH, a privately owned biotechnology company based in Munich, in connection with the entering into of a definitive agreement by Gilead Sciences, Inc. on the acquisition of all shares in Tubulis. The transaction is valued at USD 3.15 billion as an upfront payment, plus up to a further USD 1.85 billion in performance-based milestone payments. Through this acquisition, Gilead intends to strengthen its oncology pipeline and further expand its expertise in the field of next-generation antibody‑drug conjugates (ADCs).
As part of the transaction, upon its completion, in particular Tubulis's ADC candidates TUB‑040, a phase 1b/2 study targeting NaPi2b for the treatment of platinum-resistant ovarian cancer and non-small-cell lung cancer, as well as TUB‑030, a 5T4‑-targeted ADC with promising early clinical data, among other assets, will become part of Gilead's pipeline. Following completion of the transaction, Tubulis is set to continue as an independent ADC research unit within Gilead. The Munich site will remain a hub for ADC innovation.
A CMS team led by Dr Tilman Weichert provided Tubulis GmbH with comprehensive legal advice throughout the sales process. CMS has been advising Tubulis GmbH since 2020 in numerous areas of law, in particular over several financing rounds, on ongoing corporate law advice, as well as on IP, licensing and employment law issues. Most recently, CMS advised Tubulis GmbH in the Series C financing in 2025.
The transaction is expected to close in the second quarter of 2026 and is subject to approval by regulatory authorities and certain other customary conditions. Further details of the transaction were announced yesterday by Gilead Sciences and Tubulis.
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