GreenGate Partners is pleased to have advised High-Tech Gründerfonds (HTGF) on the sale of its portfolio company Tubulis to Gilead Sciences.

Gilead has entered into a definitive agreement to acquire Tubulis, a clinical-stage biotechnology company focused on next-generation antibody-drug conjugates (ADCs), for USD 3.15 billion upfront plus up to USD 1.85 billion in milestone payments. The transaction represents the highest-valued exit in HTGF’s history and the third unicorn exit in HTGF’s life sciences portfolio.

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Following completion of the transaction, Tubulis will operate as a dedicated ADC research organization within Gilead, with its Munich site continuing to serve as a hub for ADC innovation.

The transaction highlights the importance of long-term partnership between investors and founders in translating scientific innovation into impactful therapies and meaningful value creation.