Gilead Sciences agreed to acquire German ADC specialist Tubulis for $3.15 billion upfront, with up to $1.85 billion in milestones, expanding the company’s antibody-drug conjugate pipeline beyond Trodelvy. The deal also brings Tubulis’ conjugation, linker, and payload technologies, positioned to improve selectivity and reduce off-target toxicity. Tubulis’ lead candidate, TUB-040, is a NaPi2b-directed topoisomerase-I inhibitor ADC in the Phase Ib/II NAPISTAR1-01 study (NCT06303505) for platinum-resistant ovarian cancer and non-small cell lung cancer. Tubulis also has TUB-030, a 5T4-targeting ADC in clinical development across solid tumors, with prior fast track designation for TUB-040. Following multiple acquisitions in early 2026, Gilead is signaling a shift from rapid dealmaking to integration while leaning into ADC technology depth. If TUB-040’s emerging clinical activity translates into durability, analysts expect Gilead to build a broader oncology stack with additional targets and mechanisms. The transaction is expected to close in the second quarter of 2026, with Tubulis’ Munich site set to operate as a dedicated ADC research organization within Gilead.