BioAtla announces FDA clearance of IND for BA3182

BioAtla announced that the U.S. Food and Drug Administration, FDA, has cleared its investigational new drug, IND, application to evaluate BA3182 for the treatment of advanced adenocarcinoma. BioAtla plans to initiate and advance a Phase 1 dose-escalation and expansion clinical study in 2023. "While we continue to advance our CAB-ADC and CAB immuno-oncology antibodies across multiple tumor types, we are now expanding our pipeline with the recent FDA IND clearance for our potentially first-in-class bispecific antibody, BA3182," said Jay M. Short, Ph.D., Chairman, Chief Executive Officer and co-founder of BioAtla. "Our goal is to continue executing and pursuing indications with large unmet medical need that potentially have the highest impact for patients and our shareholders worldwide. We believe our current cash position is sufficient to fund our operations into 2025 through several value generating milestones for our current clinical programs as well as the initiation of the BA3182 clinical trial."