BioAtla, Inc., a global clinical-stage biotechnology company developing Conditionally Active Biologic (CAB) antibody therapies for solid tumours, has entered into a special purpose vehicle (SPV) transaction with GATC Health Corp. to advance its lead asset, ozuriftamab vedotin (Oz-V), into a phase 3 clinical trial for second-line and later oropharyngeal squamous cell carcinoma (OPSCC).

Under the SPV structure, BioAtla will receive an initial funding of $5 million from Inversagen AI, LLC to support general operations and clinical trial expenses for the 2L+ OPSCC study. Inversagen AI is a newly formed company created by GATC Health Corp. and Inversagen LLC, combining AI-driven drug discovery capabilities with BioAtla’s CAB-based senescence and longevity technologies.

The initial closing of the transaction is expected by January 30, 2026, alongside Inversagen AI’s financing. An additional $35 million is anticipated to close later in the first quarter of 2026, coinciding with the planned initiation of the registrational phase 3 study. Upon completion, Inversagen AI will hold a 35% ownership stake in Oz-V, while BioAtla will retain 65% ownership across all solid tumour indications.

BioAtla and GATC Health also plan to collaborate with Inversagen AI on the development of CAB-based senolytic therapies, with BioAtla retaining rights to oncology applications. The SPV structure is designed to fund late-stage development while preserving shareholder value and enabling broader expansion opportunities for Oz-V.

Ozuriftamab vedotin is a conditionally active antibody-drug conjugate targeting ROR2, a receptor overexpressed in multiple solid tumours, including head and neck, lung, cervical, and triple-negative breast cancers. The asset has received Fast Track Designation from the US Food and Drug Administration for recurrent or metastatic squamous cell carcinoma of the head and neck. BioAtla has also secured a commercial manufacturing partner to support accelerated development and future commercialization.

“This single-asset financing structure allows us to advance Oz-V into phase 3 while maintaining significant ownership and long-term value,” said Jay M. Short, chairman and chief executive officer of BioAtla. He added that the company is pursuing opportunities to expand Oz-V into HPV-positive solid tumours, including cervical cancer.

GATC Health highlighted ROR2 as a compelling therapeutic target at the intersection of cancer, senescence, and inflammation, noting its potential to support both oncology and longevity-focused therapeutic strategies.

OPSCC represents a rapidly growing subset of head and neck cancers, driven largely by human papillomavirus (HPV) infections. Patients with recurrent or metastatic disease who progress after standard therapies face poor outcomes, underscoring the need for new targeted treatment options.

BioAtla will continue to control the Oz-V SPV as a subsidiary, with both parties sharing future development and commercialization-related expenses. The collaboration positions Oz-V for late-stage clinical advancement while laying the groundwork for broader applications in oncology and age-related diseases.