Tubulis reported an overall response rate (ORR) of 59% for its TUB‑040 ADC in early‑phase trials, data the company presented at ESMO. The clinical signal arrived just after Tubulis closed a $361 million Series C, and executives said the results validate the Tubutecan platform and the rationale for expanded funding. Financial reporting shows venture rounds for multiple biotechs—including Kailera, Kardigan, and Tubulis—pushed aggregate venture financings past $200 million in recent activity. Investors cited Tubulis’ clinical readout as justification for large follow‑on allocations into ADC platforms. Tubulis’ data showed activity across dose cohorts with a manageable safety profile; the company aims to advance multiple indications and dose strategies into later trials.