BioAtla and Context Therapeutics Sign Global License for BA3362 Antibody Development

BioAtla, Inc., a global clinical-stage biotechnology company focused on developing Conditionally Active Biologic (CAB) antibody therapeutics for solid tumors, has entered into an agreement with Context Therapeutics Inc., a biopharmaceutical company advancing T cell engaging (TCE) bispecific antibodies for solid tumors. Under this agreement, Context will obtain exclusive, worldwide rights to develop, manufacture, and commercialize BioAtla's Nectin-4 x CD3 TCE, known as BA3362.

This partnership is financially significant for BioAtla, as it stands to receive up to $133.5 million in aggregate payments. This includes an initial $15.0 million in upfront and near-term milestones, with an additional $118.5 million contingent on achieving clinical, developmental, and commercial milestones. Furthermore, BioAtla will also receive tiered royalties on the net sales of BA3362.

Jay M. Short, Ph.D., Chairman, CEO, and co-founder of BioAtla, highlighted that the out-licensing of BA3362 allows BioAtla to concentrate on its lead clinical CAB programs. He also indicated that this transaction is expected to be the first of several collaborations aimed at increasing shareholder value through non-dilutive means.

Context Therapeutics' CEO, Martin Lehr, emphasized the strategic importance of this deal, noting that Nectin-4 is a priority target for their company due to its high prevalence in solid tumors and the unmet need for addressing resistance to Nectin-4 antibody-drug conjugates (ADCs). Lehr added that BA3362, developed using BioAtla’s unique CAB platform technology, has the potential to be a best-in-class asset. The CAB technology leverages pH-dependency to ensure selective Nectin-4 binding and T cell activation within the tumor microenvironment.

As per the agreement, Context will take on all responsibilities for the development and commercialization of BA3362. Context plans to file an Investigational New Drug (IND) application for BA3362 by mid-2026.

BioAtla’s proprietary CAB technology is designed to produce biologics that are selectively active in the tumor microenvironment, enhancing efficacy while reducing toxicity. This platform has enabled the development of monoclonal and bispecific antibodies and other protein therapeutic candidates that offer more selective targeting, greater efficacy, and a lower toxicity profile than traditional antibodies. The company's lead CAB programs, mecbotamab vedotin and ozuriftamab vedotin, are currently in Phase 2 clinical testing, targeting the AXL and ROR2 proteins, respectively. Additionally, BioAtla’s dual CAB bispecific T-cell engager antibody, BA3182, is in Phase 1 development, targeting EpCAM, which is often overexpressed on various adenocarcinomas.

Context Therapeutics, headquartered in Philadelphia, focuses on developing T cell engaging bispecific antibodies for solid tumors. Apart from BA3362, now designated as CT-202, Context's therapeutic portfolio includes CTIM-76 and CT-95, targeting Claudin 6 and Mesothelin, respectively.

The partnership between BioAtla and Context Therapeutics represents a significant step in advancing innovative cancer treatments, leveraging each company's strengths to bring potentially groundbreaking therapies to market.