BioAtla

What BioAtla does

BioAtla is a San Diego-based clinical-stage biopharmaceutical company founded in 2005 that develops novel antibody therapeutics for cancer using two proprietary platforms: the Conditionally Active Biologics (CAB) platform, which generates antibodies and ADCs that activate selectively in the acidic tumor microenvironment via a Protein-associated Chemical Switches (PaCS) mechanism, and the Comprehensive Integrated Antibody Optimization (CIAO!) platform, which selects antibody candidates in the same host used for final manufacturing to reduce downstream process risk. Its clinical pipeline comprises mecbotamab vedotin (BA3011, AXL-targeting CAB-ADC), ozuriftamab vedotin (BA3021, ROR2-targeting CAB-ADC with FDA Fast Track Designation for SCCHN), evalstotug (BA3071, CAB anti-CTLA-4), BA3182 (bispecific EpCAM x CD3 T-cell engager), and BA3361 (next-generation Nectin-4 CAB-ADC with a glycosidase-cleavable linker).

BioAtla does not sell approved products; instead it monetizes through licensing and co-development partnerships. Himalaya Therapeutics holds an exclusive license for the Greater China market (PRC, Hong Kong, Macau, Taiwan) covering two Phase 1/2 assets and worldwide rights to two preclinical candidates. A $40 million special purpose vehicle, Inversagen AI, was formed in December 2025 with GATC Health Corp to fund Phase 3 development of ozuriftamab vedotin and a senolytic program, with BioAtla retaining 65% ownership of ozuriftamab vedotin across all solid tumor indications. The company has additionally raised capital through a $75M private placement (September 2021), a $65M underwritten offering (November 2022), a $9.2M registered direct offering (December 2024), and $22.5M in flexible financing (November 2025), supplemented by an FDA Fast Track Designation granted in July 2024.

As of early 2026, BioAtla is in significant financial distress: cash reserves stood at $7.1M as of December 31, 2025, the workforce has been cut by a cumulative ~79% (30% in March 2025, then 70% in March 2026), the board has initiated a formal strategic review for asset sales and licensing, and Nasdaq has issued a delisting determination that is currently stayed; a 50-for-1 reverse stock split took effect April 6, 2026 to address listing-compliance deficiencies.

Name

BioAtla

Legal name

BioAtla, Inc.

Website

https://bioatla.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

BioAtla is a San Diego-based clinical-stage biopharmaceutical company developing conditionally active antibody therapeutics for cancer via its proprietary CAB platform, generating value through licensing and co-development partnerships rather than commercial product sales.

Ownership category

akta.pro rank

Product category

Clinical-stage Oncology Biopharmaceuticals

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

akta.pro secondary industries

Bispecific & Multispecific Antibodies (HLAAAAAF), Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA), Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

Keywords

• Conditionally active biologics
• Antibody drug conjugates
• Cancer immunotherapy
• Tumor microenvironment targeting
• Oncology therapeutics development

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Clinical Development Partnerships: BioAtla generates value through strategic partnerships and licensing agreements. The company retains 65% ownership of ozuriftamab vedotin across all solid tumor indications while Inversagen AI receives 35% stake. Partnerships include upfront payments, milestone payments, and potential royalties.
2. Regional Licensing - Greater China: Himalaya Therapeutics holds exclusive license from BioAtla to develop and commercialize CAB candidates for Greater China market, including two Phase 1/2 clinical stage assets and worldwide rights to two preclinical candidates.
3. Strategic Financing: The company has secured financing including $7.5 million pre-paid advance and $15 million standby equity purchase commitment to support operations during strategic partnership finalization.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

BioAtla develops conditionally active antibody therapeutics for the treatment of solid tumor cancers using its proprietary Conditionally Active Biologics (CAB) and Comprehensive Integrated Antibody Optimization (CIAO!) platforms. The company advances a portfolio of clinical-stage drug candidates including CAB antibody-drug conjugates, immune checkpoint inhibitors, and bispecific T-cell engagers, generating value through strategic licensing partnerships and co-development arrangements with pharmaceutical companies.

Product overview

BioAtla is a clinical-stage biopharmaceutical company developing novel therapeutics using its proprietary Conditionally Active Biologics™ (CAB) platform and Comprehensive Integrated Antibody Optimization (CIAO!™) platform. The CAB platform generates antibodies and biologics that are conditionally active in the tumor microenvironment, enabling more selective targeting of cancer tissue. The company's product portfolio includes multiple CAB-based drug candidates in various stages of development: Mecbotamab Vedotin (BA3011) and Ozuriftamab Vedotin (BA3021) are CAB antibody-drug conjugates (ADCs); Evalstotug (BA3071) is a CAB immune checkpoint inhibitor; BA3182 is a bispecific T-cell engager; and BA3361 is a next-generation CAB-ADC. These programs target various solid tumor indications including sarcoma, lung cancer, head and neck cancer, melanoma, and adenocarcinoma.

Differentiator

Problem solved

Functional benefit

Products and services

• Conditionally Active Biologics (CAB) Platform BioAtla's proprietary technology platform for developing antibodies and biologics that can be activated or inactivated under defined physiological conditions, such as the acidic tumor microenvironment, enabling more selective targeting of cancer tissue.
• Mecbotamab Vedotin (BA3011) A CAB Antibody Drug Conjugate targeting AXL receptor tyrosine kinase, being evaluated for the treatment of undifferentiated pleomorphic sarcoma (UPS), non-small cell lung cancer (NSCLC), and ovarian cancer.
• Ozuriftamab Vedotin (BA3021) A CAB Antibody Drug Conjugate targeting ROR2 receptor, being evaluated for melanoma and squamous cell carcinoma of the head and neck (SCCHN). FDA has granted Fast Track Designation for recurrent or metastatic SCCHN.
• Evalstotug (BA3071) A CAB immune checkpoint inhibitor targeting CTLA-4, designed to enable high exposures, extended dosing, and reduced immune-mediated toxicity for treatment of various carcinomas.
• BA3182 A bispecific T-cell engager targeting EpCAM and CD3 for treatment of treatment-refractory metastatic adenocarcinoma; Phase 1 data presented at ESMO 2025 showed manageable safety profile and antitumor activity.
• BA3361 (Next-Gen CAB-ADC) A next-generation CAB-ADC targeting Nectin-4 with an ultra-stable glycosidase-cleavable linker, designed for improved efficacy in pancreatic cancer and other tumor types.
• Comprehensive Integrated Antibody Optimization (CIAO!) Platform BioAtla's proprietary platform that integrates manufacturing and process development features into antibody discovery, selecting molecules in the same host used for final manufacturing to reduce downstream development risks.

Quantifiable outcome

• Median OS of 21.5 months among 44 patients with treatment-refractory leiomyosarcoma, liposarcoma, and undifferentiated pleomorphic sarcoma treated with mecbotamab vedotin
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• GATC Health CorpcoreStrategic or Co-development Partner · 31 December 2025Formed Inversagen AI, LLC as a $40 million special purpose vehicle with GATC Health to advance Phase III trials of ozuriftamab vedotin for oropharyngeal squamous cell carcinoma and develop conditionally active biologic senolytic therapies. BioAtla and GATC Health are equal partners. Initial $5 million deployed immediately with remaining $35 million expected Q1 2026.
• Inversagen AI, LLCcoreStrategic or Co-development Partner · 31 December 2025$40 million special purpose vehicle formed with GATC Health to advance BioAtla's cancer drug ozuriftamab vedotin into Phase 3 clinical trials. Inversagen AI receives 35% stake in Oz-V across all solid tumor indications while BioAtla retains 65% ownership.
• Himalaya TherapeuticscoreChannel Partner/ Reseller/ DistributorClinical stage therapeutic company with exclusive license from BioAtla to develop and commercialize several CAB candidates for Greater China market (PRC, Hong Kong, Macau, Taiwan), including two Phase 1/2 clinical stage assets and worldwide rights to two additional preclinical candidates.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Mersana Therapeutics: Clinical-stage biopharmaceutical company developing a pipeline of antibody-drug conjugates (ADCs) for oncology, using proprietary platforms (Dolasynthen, Immunosynthen). Directly comparable to BioAtla as a similarly-sized clinical-stage ADC developer targeting solid tumors with novel linker and payload chemistry.
• Bolt Biotherapeutics: Clinical-stage oncology company developing immune-stimulating antibody conjugates (ISACs) that combine tumor-targeting antibodies with immune activators. Comparable to BioAtla as a small-cap clinical-stage antibody-conjugate company working on novel targeted oncology biologics.
• Pyxis Oncology: Clinical-stage oncology company developing antibody-drug conjugates and immunotherapies. Directly comparable to BioAtla as a similarly-sized public biotech building a pipeline of ADCs targeting solid tumor indications.

Broad incumbents

• ImmunoGen (AbbVie): Pioneer in ADC technology with approved products (Elahere) now operating as a wholly owned subsidiary of AbbVie. Comparable to BioAtla as an ADC-focused oncology developer, though operating at far greater scale with commercial-stage assets.
• Daiichi Sankyo: Global pharmaceutical company and ADC market leader, developer of Enhertu (with AstraZeneca) and Datroway. Comparable to BioAtla as a major ADC innovator, though at vastly greater scale and with multiple approved/commercialized ADC products.
• Pfizer (Seagen): Pfizer acquired Seagen in 2023 for $43B, making it one of the largest ADC-focused oncology platforms globally with multiple approved products (Adcetris, Padcev, Tukysa, Tivdak). Comparable to BioAtla as a major player in the ADC space, though operating at a fundamentally different scale with commercial revenue.
• Genmab: International biotechnology company developing differentiated antibody therapeutics including bispecific antibodies (e.g., bispecifics partnered with AbbVie and others). Comparable to BioAtla in developing novel antibody formats for oncology, though Genmab has multiple approved products and broader partnerships.

Emerging players

• Mythic Therapeutics: Clinical-stage biotechnology company developing ADCs engineered with novel antibody-based protein therapeutics for cancer treatment. Comparable to BioAtla as a similarly-sized private/emerging ADC-focused oncology biotech working on next-generation antibody formats.
• Akeso: Chinese clinical-stage biopharmaceutical company developing a broad oncology pipeline including novel bispecific antibodies and ADCs. Comparable to BioAtla in developing novel antibody-based oncology therapeutics, including bispecifics (similar to BioAtla's BA3182).
• RemeGen: Chinese biopharmaceutical company developing innovative biologics including antibody-drug conjugates and bispecific antibodies. Comparable to BioAtla as a clinical-stage developer of antibody-based oncology therapeutics using novel conjugation and targeting approaches.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bioatla
• Facebookfacebook.com/175225865910397

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds8 records

Investors20 records

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M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BioAtla