The proceeds will be used to accelerate the development of the company’s CAB antibody drug pipeline.

CABs can be generated in several different formats including naked monoclonal antibodies, antibody drug conjugates, immune checkpoint inhibitors, bispecific antibodies, and chimeric antigen receptor T cells.

The $30 million equity investment is a transformative event for BioAtla® and our strategy to broadly and rapidly pursue novel therapeutic products based on our patented CAB and other proprietary technologies,” said Jay M. Short, Ph.D., President, Chief Executive Officer, and Chairman of BioAtla®.

CABs increase safety because the drug is reversibly activated when it preferentially binds directly to its intended target protein in the area of disease.

The CAB antibody’s selective activation results from amino acid substitutions of human-like sequences made to ensure compatibility.

Reliably good expression and high manufacturing yields are also derived from BioAtla®’s patented Comprehensive Integrated Antibody OptimizationTM technology that allows every step of development and screening of antibody variants until final CAB lead selection to be conducted in the mammalian cell type to be used in manufacturing.

CABs allow for higher dosing, the development of effective, non-immunogenic drugs, and the use of targets that are validated for cancer cells but traditionally considered too prevalent among normal cells to be used safely in current drug therapies.