BioAtla and GATC Health have entered into a $40m special purpose vehicle (SPV) transaction to advance Ozuriftamab vedotin (Oz-V) into a Phase III trial for second-line and later (2L+) oropharyngeal squamous cell carcinoma (OPSCC).
As part of transaction, BioAtla is set to receive an initial $5m from Inversagen AI, a newly established company focused on age-related disease research.
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The payment is intended for general operating and 2L+ OPSCC trial expenses.
Inversagen AI was formed by GATC Health and Inversagen, which hold exclusive licence rights to senescence AI longevity technologies and BioAtla’s conditionally active biologic (CAB) senescence and longevity technologies, respectively.
The initial closing of the transaction will coincide with Inversagen AI’s first financing round, anticipated by 30 January 2026.
The remaining $35m is expected to close in the first quarter of 2026, aligned with the planned launch of the Oz-V registrational clinical study. Both tranches are subject to completion of financing and customary closing conditions.
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By GlobalDataUpon completion of the transaction, Inversagen AI will hold a 35% ownership stake in Oz-V, while 65% will be retained by BioAtla throughout all Oz-V solid tumour indications.
In addition, BioAtla and GATC Health will work with Inversagen AI on research and development of CAB senolytic therapies and BioAtla will maintain rights to the cancer therapeutic applications.
BioAtla chairman, CEO and co-founder Jay Short said: “We are excited to announce this partnership for advancing Oz-V into Phase III development for the treatment of patients with OPSCC under this creative, single-asset financing structure which maximises our equity value for our shareholders.”
“As we previously announced, we have a clear registrational path with the potential for accelerated approval in the US and are moving to initiate the Phase III pivotal trial, which we anticipate will begin enrolment in early 2026. In addition, we continue to advance discussions with potential partners to expand the opportunity more broadly with Oz-V into HPV-positive solid tumours, including cervical cancer.”
In July 2025, BioAtla presented first-in-human Phase I study data of its anti-cancer therapy, BA3182, targeting those with treatment-refractory metastatic adenocarcinoma.
