SAN DIEGO, CA – January 6, 2016 – BioAtla® LLC, a global biotechnology company focused on the development of Conditionally Active Biologic antibody therapeutics, today announced that BioAtla® and Beijing Sinobioway Group Company, Limited selected their first product programs for development.
In May 2015, BioAtla® and Sinobioway entered into a strategic collaboration for the development and commercialization of select CAB antibodies and other CAB-based therapeutics in China, Hong Kong, Macau and Taiwan.
BioAtla® now receives $19 million in program payments plus equity investment from Sinobioway as a result of the selection of the first CAB candidates and achievement of other corporate objectives.
As part of the agreement, Sinobioway has exclusive rights to develop and commercialize selected CAB antibodies in the Territory and BioAtla® retains the rest of world rights to these products.
Sinobioway will fund the development, manufacturing, clinical trials and commercialization costs in the Territory and is committed to making recurring product development payments to BioAtla® for additional CAB candidates.
“BioAtla®’s strategy is 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 the board of BioAtla®.
“The CAB technology and its prospects will be important elements in Sinobioway’s mission to advance science and industrial development, and improve health in China through creating and delivering safer and more effective medicines to patients.” ABOUT CONDITIONALLY ACTIVE BIOLOGICS Conditionally Active Biologic proteins are generated using BioAtla®’s proprietary protein evolution and expression technologies.