Context Amasses Bispecific Antibodies in $133M BioAtla Deal

Context Therapeutics is expanding its portfolio of bispecific antibody candidates. The Philadelphia-based company has committed $11 million upfront to acquire a T-cell engaging antibody from BioAtla, as revealed in a September 23 SEC filing. BioAtla stands to gain $4 million in near-term milestone payments and an additional $118.5 million in other milestone payments. The agreement also includes tiered royalties on net sales.

BioAtla's CEO, Jay Short, Ph.D., stated that this deal could pave the way for more collaborations in the future, including targeted collaborations for one of BioAtla's phase 2 assets. He emphasized the potential for increasing shareholder value through non-dilutive means.

The newly acquired asset, known as BA3362, is a bispecific antibody that targets Nectin-4 on tumor cells and CD3 on T cells. This mechanism effectively mobilizes T cells to attack cancer cells. Under the terms of the agreement, Context Therapeutics has secured exclusive global rights to develop, manufacture, and commercialize BA3362 and will be responsible for funding all related activities.

Context’s CEO, Martin Lehr, noted that the acquisition aligns with the company's strategy to build a robust pipeline of T-cell engaging (TCE) assets through strategic licensing or acquisition. Nectin-4 is considered a priority target for Context due to its high prevalence in solid tumors and the need to overcome potential resistance to Nectin-4 antibody-drug conjugates. Lehr identified BioAtla's Nectin-4 TCE antibody as potentially best-in-class.

Now renamed CT-202, BA3362 joins two other bispecific antibodies in Context’s pipeline. CTIM-76, which targets claudin-6, and CT-95, which targets mesothelin, are slated to enter phase 1 trials with the first patients expected to be dosed later this year and early next year, respectively. Context plans to file an investigational new drug (IND) application for CT-202 by mid-2026. The company expects its current cash reserves to sustain operations through the phase 1 trials and into 2027.