FOSTER CITY (dpa-AFX) - Gilead Sciences, Inc. (GILD) announced Tuesday it has entered into a definitive agreement to acquire German biotechnology company Tubulis GmbH to build on Gilead's oncology pipeline, focused on addressing areas of high unmet need.
Under the terms of the sale and purchase agreement, Gilead will acquire all of the outstanding equity of Tubulis for $3.15 billion in upfront cash consideration on a cash-free, debt-free basis, subject to customary adjustments, which is payable at closing, and up to $1.85 billion in contingent milestone payments.
The acquisition significantly expands Gilead's Antibody-Drug Conjugate or ADC, capabilities by adding next-generation assets and platforms designed to more selectively deliver diverse payloads to tumors and maximize patient benefit.
Tubulis' lead asset, TUB-040, a NaPi2b-directed topoisomerase-I inhibitor (TOPO1i) ADC, is currently in Phase 1b/2 development for platinum-resistant ovarian cancer and non-small cell lung cancer (NSCLC).
Gilead will also acquire TUB-030, a 5T4 targeted ADC, which has demonstrated promising initial clinical data across various solid tumor types.
Tubulis' programs and platforms have broad potential across multiple tumor types, complementing Gilead's existing development and commercialization expertise in oncology.
Following the close of the transaction, Tubulis will operate as a dedicated ADC research organization within Gilead, with the Munich site serving as a hub for ADC innovation, building on its integrated discovery, manufacturing and clinical capabilities to advance next generation ADCs.
Gilead plans to finance the transaction with a combination of cash on hand and senior unsecured notes.
The transaction, subject to expiration or termination of certain regulatory filings and other customary conditions, is expected to close in the second quarter of 2026.
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