What AdAlta does

AdAlta Limited (ASX:1AD) is an Australian clinical-stage biotechnology company that develops protein-based and cellular therapeutics for cancer and fibrotic disease. Its foundational asset is the proprietary i-body platform — a class of next-generation antibody-like proteins (~12,000Da, less than one-tenth the size of conventional monoclonal antibodies) built on a human protein scaffold engineered with loops that mimic shark antibodies, enabling binding to drug targets such as GPCRs and ion channels that traditional antibodies cannot access. The lead internal candidate, AD-214, is an Fc-Fusion i-body targeting CXCR4 for idiopathic pulmonary fibrosis and related fibrotic diseases and holds US FDA Orphan Drug Designation; a secondary i-body, WD-34, targets malaria, babesiosis and toxoplasmosis.

The company's primary growth driver is its 'East to West' cellular immunotherapy strategy, under which AdAlta in-licenses clinic-ready T-cell therapies (including lead CAR-T candidate BZDS1901 for mesothelioma and solid tumours) from Asian originators, secures US FDA IND approval via Australian clinical and manufacturing infrastructure (notably Cell Therapies Pty Ltd), and out-licenses derisked assets to larger Western biopharmaceutical partners for registrational studies and commercialization. It also co-develops next-generation i-body-enabled CAR-T products with Carina Biotech and pursues i-PET diagnostic applications.

AdAlta is pre-revenue, has 1-10 employees, and is headquartered in Camberwell, Melbourne, Australia. Operations are funded through periodic equity raises, including a A$3.15M rights offer in May 2023 and a A$2.5M placement in May 2026. Revenue, when it materializes, is expected to come principally from upfront payments, milestone receipts, and royalties under out-licensing agreements with large biopharma counterparties, rather than direct product sales.

Name

AdAlta

Legal name

AdAlta Limited

Website

http://www.adalta.com.au

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

AdAlta is an Australian clinical-stage biotech (ASX:1AD) developing i-body protein therapeutics and CAR-T cell therapies for solid cancers and fibrosis, using an 'East to West' strategy that in-licenses Asian-origin assets, runs Phase I trials in Australia, and out-licenses to Western biopharma partners.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), In-Vitro Diagnostic Substance Manufacturing (325413)

SIC

Pharmaceutical Preparations (2834), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Cell Therapy Enabling Technologies (gene editing, cell engineering, delivery methods) (HLAAABAL)

akta.pro secondary industries

Cell Therapy CDMO (HLAGABAD), Cell Processing & Ancillary Materials (media, cytokines, beads, vectors, disposables) (HLAAABAH)

Keywords

• Antibody therapeutics
• CAR-T cell therapy
• Protein engineering
• Fibrosis treatment
• Cellular immunotherapy

Headquarters

HQ city

Bundoora

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations

Revenue model

1. Out-licensing / Partnering Deals: AdAlta's primary revenue model involves out-licensing developed assets to larger biopharmaceutical companies for larger registrational studies and commercialization. The company in-licenses products from Asian originators, develops them through Phase I trials, then on-licenses to Western biopharma partners.
2. Strategic Partnerships & Licensing: Seeking external strategic and financial partners to advance AD-214 into Phase II clinical trials and WD-34 development for seasonal malaria protection. Transactions are designed to monetize value created by R&D spend.
3. Capital Raising: Pre-revenue biotech company financing operations through placement capital raises. Raised $2.5 million from sophisticated investors in May 2026 to advance CAR-T therapy BZDS1901 development and manufacturing/regulatory milestones.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

AdAlta is a clinical-stage biotechnology company developing next-generation protein and cell therapeutics using its proprietary i-body technology platform. Its primary pipeline includes BZDS1901 (a CAR-T therapy for mesothelioma and solid tumours in-licensed from Asian originators), AD-214 (an Fc-fusion i-body targeting CXCR4 for idiopathic pulmonary fibrosis and fibrotic diseases), and WD-34 (an antibody-like protein inhibiting all strains of malaria parasite). The company operates an "East to West" cellular immunotherapy strategy that bridges Asian T-cell innovation with Australian clinical development and Western regulated markets.

Product overview

AdAlta is a clinical-stage biotechnology company developing next-generation cell and protein therapeutics using its proprietary i-body technology platform. The company operates an "East to West" cellular immunotherapy strategy, integrating Asia's innovation in T-cell therapy development with Australia's clinical and manufacturing ecosystem to create pathways to Western regulated markets. The core product portfolio includes: BZDS1901 (lead CAR-T therapy for mesothelioma and solid tumours), AD-214 (i-body therapy for idiopathic pulmonary fibrosis and kidney fibrosis), and WD-34 (antibody-like protein for malaria). The proprietary i-body technology platform enables development of smaller (approximately 12,000Da), more targeted therapeutics compared to traditional monoclonal antibodies (150,000Da), with access to previously unreachable drug targets like GPCRs and ion channels.

Differentiator

Problem solved

Functional benefit

Brands

• i-body: A proprietary human protein technology platform that belongs to the class of next generation antibodies, built on the scaffold of a human protein and engineered with two loops that mimic the shape of shark antibodies.

Products and services

• BZDS1901 Lead CAR-T (Chimeric Antigen Receptor T-cell) therapy candidate targeting mesothelioma and solid tumours, in-licensed from Asian originators as part of AdAlta's East-to-West strategy.
• AD-214 Lead i-body drug candidate - an Fc-Fusion protein containing two AD-114 i-body molecules targeting CXCR4 for treatment of idiopathic pulmonary fibrosis (IPF), kidney fibrosis, and other fibrotic diseases.
• WD-34 First antibody-like protein that inhibits all strains of malaria parasite from invading human red blood cells and liver cells with high potency; also inhibits parasites responsible for babesiosis and toxoplasmosis.
• i-CAR Programs Next-generation CAR-T cancer therapeutics developed in collaboration with Carina Biotech, combining i-body technology with CAR-T cell therapy for enhanced targeting of solid cancers.

Quantifiable outcome

• Two complete tumour clearances and one patient remaining alive 22 months after treatment with no reported recurrence in heavily pretreated advanced mesothelioma patients
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Cell TherapiescoreImplementation/ SI/ Consulting Partner · 4 May 2026Technology transfer work order with Cell Therapies to establish local manufacturing reliability and scalability for CAR-T therapy BZDS1901. Cell Therapies is a leading Australian contract manufacturer and distributor of cellular therapies in Asia Pacific, also connected through shared management expertise with CEO Tim Oldham's prior role as CEO of Cell Therapies.
• La Trobe UniversitycoreStrategic or Co-development PartnerCollaboration with La Trobe University for lead optimization of WD-34 malaria candidate. Development is being advanced using grant and third party collaborator financing, combining academic research capabilities with AdAlta's i-body technology platform.
• Carina BiotechcoreStrategic or Co-development PartnerPartnership to develop next-generation CAR-T cancer therapeutics combining AdAlta's i-body technology with Carina Biotech's CAR-T capabilities. Joint development of body-enabled CAR-T cancer therapeutics for solid tumours.
• Asian T Cell Therapy OriginatorscoreStrategic or Co-development PartnerIn-licensing partnerships with Asian companies that have developed T cell therapy products. AdAlta provides funding and operational expertise to meet Western biopharma requirements at no capital cost to Asian partners, while maintaining a share of the upside. Pipeline includes assets targeting lung, colorectal, gastric cancer, and other solid tumours.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key highlights6 records

Customer concentration

• Xx.com/adaltaceo

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about AdAlta