$30 million equity stake in BioAtla by China-based investor group

San Diego, USA-based biotech firm BioAtla, which is focused on the development of conditionally active biologic (CAB) antibody therapeutics, says that a China-based investor group has purchased $30 million in BioAtla equity.

The proceeds will be used to accelerate the development of the company's CAB antibody drug pipeline. This strategic investment also will advance BioAtla's plans to collaboratively develop biotherapeutics with biopharmaceutical companies and institutions in China to address the high demand for innovative therapeutic products and the growing demand in the China pharmaceutical market.

BioAtla's patent protected CAB platform represents a disruptive technology for the development of a powerful new class of immuno-therapeutics that are activated in selected microenvironments within the body such as those indicative of cancerous tumors. CABs can be generated in several different formats including naked monoclonal antibodies (MAbs) antibody drug conjugates immune checkpoint inhibitors bispecific antibodies and chimeric antigen receptor (CAR) T cells.