Context Therapeutics Inc. (NASDAQ: CNTX) amended its exclusive license agreement with BioAtla Inc. (NASDAQ: BCAB) for CT-202, eliminating future milestone and royalty payments in exchange for $6.5 million in total payments.

The biopharmaceutical company will pay $4.5 million upfront and an additional $2.0 million by August 1, 2026, according to a statement based on the press release. The amendment modifies the original license agreement dated September 23, 2024.

CT-202 is a Nectin-4 x CD3 T cell engager bispecific antibody targeting Nectin-4, a protein overexpressed in bladder, colorectal, lung and breast tumors. The company expects to initiate a Phase 1 clinical trial for CT-202 in the third quarter of 2026.

The amendment provides Context with full economic rights to the drug candidate going forward. Martin Lehr, chief executive officer, stated the transaction reflects the company's commitment to CT-202 as an important program within its pipeline.

Context Therapeutics focuses on developing T cell engaging bispecific antibodies for solid tumors. The Philadelphia-based company's portfolio includes CTIM-76, CT-95, and CT-202, which target different proteins associated with various cancer types.

The original license agreement was established less than eight months ago, and this amendment restructures the financial terms to provide Context with greater control over the asset's future development and commercialization rights.