Biotech Values

[DewDiligence]

PFE inks CAB-ADC* drug-development deal with (private) BioAtla:

http://finance.yahoo.com/news/bioatla-enters-strategic-license-option-020000275.html

Under the agreement, BioAtla and Pfizer will each have a license to the other's respective technology to pursue the development and commercialization of several CAB-ADC* antibodies. Pfizer also gains an exclusive option to develop and commercialize BioAtla CAB antibodies that target CTLA4, a validated immuno-oncology target in humans.

If successful, BioAtla's technology would allow the selective targeting of CTLA4 expressed on immune cells localized in the tumor microenvironment. BioAtla and Pfizer are both eligible to receive milestone payments and royalties based on individual CAB-ADC antibody candidates developed and commercialized by the other party. Including the CTLA4 option and license, BioAtla is eligible to receive a potential total of more than $1.0 billion in up-front, regulatory and sales milestone payments as well as tiered marginal royalties reaching double digits on potential future product sales.

*CAB = Conditionally Active Biologic (a proprietary BioAtla acronym); ADC = Antibody-Drug Conjugate (an industry-standard acronym).