Gilead Sciences Acquires Tubulis for $5B

Gilead Sciences has entered into a definitive agreement to acquire Tubulis, a Germany-based clinical-stage biotechnology company, for up to $5.0 billion. The deal includes $3.15 billion in upfront cash and up to $1.85 billion in contingent milestone payments. Tubulis specializes in developing next-generation antibody-drug conjugates (ADCs) for various solid tumor types, including its lead asset TUB-040 for ovarian and non-small cell lung cancer, and TUB-030. Tiziana Life Sciences, which co-led Tubulis's Series B2 financing in 2024, will exit its minority stake as part of this transaction. Following the acquisition, Tubulis will operate as a dedicated ADC research organization within Gilead Sciences, with its Munich site becoming a hub for ADC innovation. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals.