BioAtla LLC, a San Diego, CA- and Beijing, China-based global biotechnology company focused on the development of Conditionally Active Biologic (CAB) antibody therapeutics, raised $45m in funding.
Global BIO Impact Fund, a U.S.-based bioscience investment fund, made the investment, which be $15m in BioAtla equity by the end of January 2016 and $30m by the end of March 2016 in direct funding.
The funds will be used for the early development of several CAB antibody candidates for BioAtla’s proprietary portfolio. Through the program funding, Global BIO will share in the risks and the potential returns of BioAtla’s first four CAB candidates that receive Investigational New Drug (IND) approval by the U.S. Food and Drug Administration.
Led by Jay M. Short, Ph.D., president, CEO and chairman of the board, BioAtla develops novel monoclonal antibody and other protein therapeutic products by utilizing its proprietary technologies of product design and development, from target discovery to manufacturing and preclinical studies. The company has over 100 patents issued and pending that cover its platform technologies representing a full complement of therapeutic protein development capabilities.
The specific CAB candidates under the Global BIO agreement would be at BioAtla’s decision and could include products in development under BioAtla’s May 2015 collaboration with Beijing Sinobioway Group Company Limited, or BioAtla CAB-ADC products resulting from December 2015 agreement with Pfizer or other products under consideration.