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In its third acquisition of 2026, Gilead is spending $3.15 billion upfront to snag a next-generation antibody-drug conjugate platform from German startup Tubulis.
The California biopharma could pay out another $1.85 billion down the road to Tubulis shareholders if all goes well with the acquisition, which was announced Tuesday morning. Tubulis raised a $401 million Series C last year, had its sights on a potential IPO, and recruited Roche oncology executive Charles Fuchs as its chief medical officer.
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