Nanobiotix secured $71 million in non‑dilutive financing from HealthCare Royalty to support the late‑stage development of its radiotherapy‑activated nanotherapy partnered with Johnson & Johnson. The loan is repayable from a defined portion of early royalties and milestone payments tied to first $1 billion in net sales, extending the company’s runway into 2028. Separately, ADC specialist Tubulis expanded its Series C to $401 million to accelerate development and manufacturing scale‑up across its antibody‑drug conjugate programs. The outsized financing signals investor appetite for differentiated ADC platforms and supports clinical and CMC activities to push multiple candidates into later stages.