Sector News

Pfizer bets up to $1B on BioAtla's approach to immuno-oncology

December 8, 2015
Life sciences

San Diego biotech BioAtla is sharing its immuno-oncology assets with Pfizer in a deal worth up to $1 billion, mixing and matching technologies in hopes of hitting on a winning combination.

Under the agreement, BioAtla is handing over some of its conditionally active biologics, or CABs, which are immunotherapeutics that can be switched on in the presence of certain antigens. And Pfizer is bringing a stable of antibody-drug conjugates, or ADCs, which use antibodies to ferry treatments to specific targets. Combined, the partners believe they can craft CAB-powered ADCs that can more safely deliver cancer-killing drugs to a wide range of tumor types.

The plan is to split development and commercialization rights between the two companies, with each in line for milestone payments and royalties related to the other’s work. Pfizer is also in-licensing a CAB project that targets the protein CTLA-4, a so-called immune checkpoint that hampers the body’s ability to detect cancer. In exchange, the Big Pharma is promising BioAtla an untold up-front sum and down-the-road payments totaling as much as $1 billion.

For BioAtla, the deal comes about 6 months after the company raised $30 million in equity from an undisclosed group of Chinese investors. The company, founded in 2007, operates out of San Diego with labs in Beijing.

By Damian Garde

Source: Fierce Biotech

comments closed

Related News

January 22, 2023

Sun Pharma to buy Concert Pharmaceuticals for $576m

Life sciences

Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.

January 22, 2023

Novo Nordisk diabetes pill wins FDA approval for first-line use

Life sciences

The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.

January 22, 2023

Bayer feeling more heat from activist investors, this time from Bluebell

Life sciences

Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.

How can we help you?

We're easy to reach