Gilead Sciences moved deeper into antibody-drug conjugates by agreeing to acquire German biotech Tubulis for $3.15 billion upfront and up to $1.85 billion in milestones, with the deal expected to close in 2Q 2026. Gilead said Tubulis’ technology is designed to broaden payload delivery while targeting ways to reduce off-target effects. Tubulis’ lead program, TUB-040—a NaPi2b-directed topoisomerase I inhibitor ADC—is in the Phase Ib/II NAPISTAR1-01 trial (NCT06303505) for platinum-resistant ovarian cancer and non-small cell lung cancer. Gilead will also gain TUB-030, a 5T4-targeted ADC, along with platform assets including conjugation/linker technology. Analysts framed the purchase as platform validation rather than a single-asset bolt-on, and Gilead signaled it plans to establish Tubulis as a dedicated ADC research organization within Gilead’s Munich footprint. The move comes as the company continues a fast pace of oncology and platform acquisitions. Separately, Gilead management also reiterated that the company is shifting from dealmaking toward integration and ordinary-course business development after recent takeovers.