Tubulis reported first‑in‑human data for its next‑generation ADC TUB‑040 with an overall response rate of 59% across dose cohorts in heavily pretreated patients, data the company released shortly after closing a large financing. The response signal emerged across multiple dose levels, supporting the company’s Tubutecan payload and P5 conjugation technology designed to reduce off‑target toxicity. The clinical readout and a recent Series C raise cited by BioCentury underline investor confidence in next‑generation ADC platforms and the potential to widen ADC therapeutic windows. Safety signals—primarily neutropenia—will shape dose selection in planned expansion cohorts.