BioAtla scores $45M investment for CAB development

Beijing-San Diego biotech BioAtla will receive a $45 million investment from the Global BIO Impact Fund in two tranches by March of this year for development of Conditionally Active Biologic (CAB) candidates. "The specific CAB candidates under the Global BIO agreement would be at BioAtla's decision and could include CAB products in development under BioAtla's May 2015 collaboration with Beijing Sinobioway Group Company ... or BioAtla CAB-ADC products resulting from BioAtla's December 2015 agreement with Pfizer or other BioAtla CAB products under consideration," according to a press release. BioAtla is slated to get a total of $70 million in payments and equity investment from Beijing-based Sinobioway Group this year related to a programs selected for development in a collaboration deal to develop CAB antibody therapeutics. BioAtla signed a potential $1 billion deal with Pfizer ($PFE) in December covering CAB. Release