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3w ago

Gilead to Acquire Tubulis for Up to $5 Billion to Boost Cancer ADC Pipeline

Closing expected in Q2 2026 would put Tubulis’ Munich site at the center of Gilead’s ADC research.

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The Tubulis acquisition represents another major expansion into the ADC market made by Gilead in the past decade. Credit: Sundry Photography/Shutterstock.com.

Overview

  • Gilead said Tuesday it will buy Munich-based Tubulis in a definitive deal for $3.15 billion upfront plus up to $1.85 billion in milestones.
  • Gilead plans to fund the purchase with cash on hand and new senior unsecured notes, with the transaction expected to close in the second quarter of 2026 pending customary approvals.
  • The acquisition adds Tubulis’ next‑generation antibody‑drug conjugate platform and two clinical programs, led by TUB‑040 for ovarian and lung cancers that showed about a 50% confirmed response rate in early data presented in October 2025.
  • Antibody‑drug conjugates link a tumor‑targeting antibody to a chemotherapy payload so the drug is delivered more precisely to cancer cells and can limit harm to healthy tissue.
  • After closing, Tubulis will operate as Gilead’s dedicated ADC research group in Munich, formalizing a two‑year collaboration and extending Gilead’s 2026 deal streak that also includes Arcellx and Ouro Medicines.