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Solid tumor biotech BioAtla files for a $100 million IPO

November 13, 2020

BioAtla, a Phase 2 biotech developing antibody therapies for solid tumor cancers, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company is developing a novel class of specific and selective antibody-based therapeutics. Its conditionally active biologics capitalize on its proprietary discoveries with respect to tumor biology, enabling it to target known and widely validated tumor antigens that have previously been difficult or impossible to target. BioAtla has initiated Phase 2 trials for its two latest stage antibody-drug conjugate candidates BA3011 and BA3021 in multiple cancer indications, with interim data expected in 2021.

The San Diego, CA-based company was founded in 2007 and booked $3 million in collaboration revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol BCAB. BioAtla filed confidentially on October 6, 2020. J.P. Morgan, Jefferies and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.