BioAtla Grants Exclusive, Worldwide License To Context Therapeutics To Develop BA3362

(RTTNews) - Biotechnology company BioAtla, Inc. (BCAB) and biopharmaceutical company Context Therapeutics Inc. (CNTX) announced Monday that the companies have entered into an agreement under which Context has obtained from BioAtla an exclusive, worldwide license to develop, manufacture and commercialize BA3362, BioAtla's Nectin-4 x CD3 TCE.

Context will assume and fund all development and commercialization activities.

"This transaction is consistent with our focus on building a pipeline of TCE assets through strategic in-licensing or acquisition," said Martin Lehr, CEO of Context.

Under the terms of the agreement, BioAtla is eligible to receive up to $133.5 million in aggregate payments, including $15.0 million in upfront and near-term milestones with additional potential clinical, development and commercial milestones totaling $118.5 million, as well as tiered royalties on net sales.

BA3362 targets Nectin cell adhesion protein 4 (Nectin-4), which is highly and frequently overexpressed in a variety of cancers. Nectin-4 is a clinically-validated target for cancer therapy using a traditional antibody-drug conjugate (ADC).