BioAtla Secures $22.5M Financing Amid Strategic Partnership Talks
Key Points
- BioAtla has entered into Pre-paid Advance Agreements and a Standby Equity Purchase Agreement totaling up to $22.5 million to support ongoing operations.
- The financing includes a $7.5 million advance from affiliates of Yorkville Advisors Global and Anson Advisors, with an option to purchase up to $15 million of common stock at a discount over three years.
- These agreements provide financial flexibility as BioAtla advances toward finalizing a strategic partnership expected to complete by year-end 2025.
- BioAtla continues clinical development of its Conditionally Active Biologic (CAB) antibody therapeutics, including Phase 3-ready Ozuriftamab vedotin and Phase 1 BA3182 candidates.
BioAtla's New Financing Agreements to Support Operations
On November 21, 2025, BioAtla, Inc., a clinical-stage biotechnology company specializing in Conditionally Active Biologic (CAB) antibody therapeutics for solid tumors, announced it has entered into flexible financing agreements totaling up to $22.5 million. These agreements consist of Pre-paid Advance Agreements providing an aggregate $7.5 million advance from an affiliate of Yorkville Advisors Global and funds managed by Anson Advisors Inc., alongside a Standby Equity Purchase Agreement under which Yorkville commits to purchase up to $15 million of BioAtla common stock if the company exercises its option. The common stock purchases would be made at a 3% discount to prevailing market prices over a three-year period, subject to certain conditions. The Pre-paid Advance was purchased at 95% of face value, resulting in $7.125 million gross proceeds at closing, and accrues interest at 4%. BioAtla may repay this advance in cash or convert it into common stock at a conversion price equal to the lower of $1.39 or 95% of the lowest daily volume-weighted average price (VWAP) over a specified trading day look-back period beginning no earlier than November 18, 2025. Tungsten Advisors served as the sole placement agent for these agreements.
Strategic Partnership Progress and Operational Continuity
BioAtla is in advanced stages of finalizing a strategic transaction with a potential partner, aiming to complete the deal by the end of 2025. The newly secured financing agreements are designed to provide the company with the financial flexibility necessary to maintain operational momentum during this process. Jay M. Short, Ph.D., Chairman, CEO, and co-founder of BioAtla, emphasized that these agreements will help unlock significant value for the company and its shareholders. The company’s ability to continue its clinical and development activities without disruption is critical as it pursues this strategic partnership. The financing arrangements are registered under an effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission (SEC), ensuring compliance with regulatory requirements.
BioAtla’s Clinical Pipeline and Technology Platform
BioAtla focuses on developing novel, reversibly active monoclonal and bispecific antibodies using its proprietary Conditionally Active Biologic (CAB) platform technology. This platform enables selective targeting of tumor microenvironments, aiming for greater efficacy with lower toxicity and more predictable manufacturing compared to traditional antibodies. The company holds extensive worldwide patent coverage with over 780 active patent matters, including more than 500 issued patents, covering methods of making, screening, and manufacturing CAB product candidates. Among its clinical assets, Ozuriftamab vedotin (Oz-V) is a Phase 3-ready antibody drug conjugate targeting ROR2, a receptor tyrosine kinase overexpressed in various solid tumors such as head and neck, lung, triple-negative breast cancer, and melanoma. Oz-V has received FDA Fast Track Designation for treating patients with recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) who have progressed on PD-1/L1 therapies and platinum chemotherapy. Additionally, BioAtla is advancing BA3182, a CAB EpCAM x CAB CD3 bispecific T-cell engager antibody, currently in Phase 1 trials for advanced adenocarcinoma. BA3182 is designed to selectively activate T-cell engagement within the tumor microenvironment, enhancing anticancer activity while minimizing off-target effects.
Regulatory and Forward-Looking Considerations
The shares issuable under the Pre-Paid Advance Agreement and the Standby Equity Purchase Agreement are offered pursuant to BioAtla’s effective shelf registration statement filed with the SEC. A prospectus supplement detailing the terms of the offering will be made available on the SEC’s website. BioAtla’s press releases include forward-looking statements subject to risks and uncertainties, including the company’s ability to continue as a going concern, the success of its clinical trials, regulatory approvals, and the completion of the strategic partnership. The company acknowledges that actual results may differ materially from expectations due to various factors such as clinical trial outcomes, regulatory decisions, funding requirements, and external macroeconomic conditions. BioAtla commits to updating such information only as required by law.
Key Takeaways
- BioAtla secured up to $22.5 million in flexible financing to support operations and strategic partnership efforts.
- The financing structure includes a $7.5 million advance and a $15 million equity purchase commitment at a discount over three years.
- BioAtla is progressing toward completing a strategic transaction by year-end 2025 to enhance shareholder value.
- The company continues advancing its CAB antibody therapeutics pipeline, including Phase 3-ready and Phase 1 clinical candidates.
References
- 1. https://www.globenewswire.com/news-release/2025/11/21/3192511/0/en/BioAtla-Enters-into-Agreements-for-up-to-22-5-Million-Flexible-Financing.html
- 2. https://www.benzinga.com/pressreleases/25/11/g48995638/bioatla-enters-into-agreements-for-up-to-22-5-million-flexible-financing
- 3. https://finance.yahoo.com/news/bioatla-enters-agreements-22-5-052500740.html
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