BioAtla Subsidiary, Himalaya Therapeutics, Will Develop And Commercialize CAB Products In Greater China Market

First Conditionally Active Biologics licensing participation in Greater China territory

SAN DIEGO,April 16,2019 -- BioAtla®,LLC,a global clinical-stage biotechnology company focused on the development of Conditionally Active Biologic (CAB) protein therapeutics for the oncology market,today announced that Himalaya Therapeutics SEZC,a Cayman Island corporation and majority owned subsidiary of BioAtla,has the exclusive license from BioAtla to develop and commercialize several specific,differentiated product candidates for the Greater China market of mainland China,Hong Kong,Macau and Taiwan. The Himalaya Therapeutics portfolio includes two CAB candidates,CAB-AXL-ADC and CAB-ROR2-ADC,each currently in Phase 1/2 clinical trials conducted by BioAtla at sites in the United States. In addition,Himalaya Therapeutics will participate in BioAtla's potential Greater China derived returns from the recently announced BioAtla and BeiGene,Ltd. global co-development and collaboration agreement for the development,manufacture and commercialization of CAB-CTLA-4 (BA3071). Himalaya will also support BioAtla's global clinical trials effort in Greater China.

"We believe that Himalaya's product development and business related activities directly addressing Greater China will maximize the strategic opportunities for both BioAtla and Himalaya in the world's second largest pharmaceutical market," stated Carolyn Short,General Manager of Himalaya Therapeutics. "The access to clinical development capabilities in China can accelerate the global development and potential commercialization of the BioAtla product portfolio and effectively address markets with strong growth potential and high unmet medical need," added Scott Smith,President of BioAtla.

Recent sweeping changes to the China regulatory processes for the development of pharmaceutical products now closely align them with those in the United States and broadens the use of clinical data for regulatory purposes between the two nations. Consequently,close coordination of clinical development in the U.S. and China of a pharmaceutical candidate is highly desireable and more efficient. Furthermore,the access to capital markets for early-stage biotechnology companies in China has recently been greatly enhanced especially with the revision to the stock listing requirements on the Hong Kong Stock Exchange. Himalaya Therapeutics is expected to fund its operations independent from BioAtla. These were primary motivating factors for Beijing Sinobioway Group Company and its related investor groups to contribute all of their rights to certain and any future CAB candidates that were part of their 2015 collaboration agreement with BioAtla in exchange for a minority equity position in Himalaya Therapeutics.

About Conditionally Active Biologics (CABs)

Conditionally Active Biologics are proteins generated using BioAtla's proprietary protein discovery,evolution and expression technologies. These proteins can be monoclonal antibodies,enzymes and other proteins designed with functions dependent on changes in micro physiological conditions (e.g.,pH level,oxidation,temperature,pressure,presence of certain ions,hydrophobicity and combinations thereof) both outside and inside cells.

Studies have shown that cancerous tumors create highly specific conditions at their site that are not present in normal tissue. These cancerous microenvironments are primarily a result of the well understood unique glycolytic metabolism associated with cancer cells,referred to as the Warburg Effect in aerobic cancer cells. CAB proteins are designed to deliver their therapeutic payload and/or recruit the immune response in specific and selected locations and conditions within the body and to be active only in the presence of a particular cellular microenvironment. In addition,the activation is designed to be reversible to repeatedly switch 'on and off' should the CAB move from a diseased to a normal cellular microenvironment and vice versa. CABs can be developed in a variety of formats,including antibodies,antibody drug conjugates (ADCs),bispecifics,chimeric antigen receptor T-cells (CAR-Ts) and combination therapies.

About BioAtla,LLC

BioAtla is a global clinical-stage biotechnology company with operations in San Diego,California,and Beijing,China. BioAtla develops novel monoclonal antibody and other protein therapeutic product candidates designed to have more selective targeting,greater efficacy,and more cost-efficient and predictable manufacturing than traditional antibodies. BioAtla has two programs currently in Phase 1/2 clinical testing in the United States,BA3011,a novel conditionally active AXL-targeted antibody-drug conjugate (CAB-AXL-ADC),and BA3021,a novel conditionally active ROR2-targeted antibody-drug conjugate (CAB-ROR2-ADC).

Contact:

Richard Waldron

Chief Financial Officer

BioAtla,LLC

rwaldron@bioatla.com

858.356.8945

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