BioAtla Announces License and Option Agreement With Pfizer for A New Class Of Antibody Therapeutics
BioAtla LLC announced Monday, that it has entered into a license and option agreement with Pfizer Inc. (NYSE: PFE) to advance the development and commercialization of a new class of antibody therapeutics based on BioAtla's CAB platform and utilizing Pfizer's proprietary antibody drug conjugate (ADC) payloads.
Under the agreement, BioAtla and Pfizer will each have a license to the other's respective technology to pursue the development and commercialization of several CAB-ADC antibodies. Pfizer also gains an exclusive option to develop and commercialize BioAtla CAB antibodies that target CTLA4, a validated immuno-oncology target in humans. If successful, BioAtla's technology would allow the selective targeting of CTLA4 expressed on immune cells localized in the tumor microenvironment. BioAtla and Pfizer are both eligible to receive milestone payments and royalties based on individual CAB-ADC antibody candidates developed and commercialized by the other party. Including the CTLA4 option and license, BioAtla is eligible to receive a potential total of more than $1.0 billion