Full Press Release Details
EMERYVILLE, Calif.--(BUSINESS WIRE)--$OABI#OABI--OmniAb, Inc. (NASDAQ: OABI), a provider of cutting-edge discovery research technology to enable the discovery of next-generation therapeutics, today announced a global collaboration and license agreement with Eli Lilly and Company (Lilly) for a new ion channel program. The collaboration leverages OmniAb’s technology platform and expertise in ion channel discovery and screening.
“We are pleased to enter into this important new relationship with Lilly,” said Matt Foehr, OmniAb’s Chief Executive Officer. “Lilly is focused on delivering medicines to address major unmet medical needs and our differentiated expertise and established technologies that relate to ion channels are well positioned to help drive this new discovery program.”
Under the terms of the agreement, OmniAb will receive an upfront payment and is eligible to receive up to $370 million in research, development, and commercial milestone payments, as well as tiered royalties on global net sales. The therapeutic target and modality are undisclosed.
About OmniAb
OmniAb licenses cutting-edge discovery research technology to pharmaceutical and biotech companies and academic institutions to enable the discovery of next-generation therapeutics. Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies and other target-binding proteins for our partners’ drug development efforts. At the heart of the OmniAb platform is what we call Biological Intelligence™, which powers the immune systems of our proprietary, engineered transgenic animals to create optimized antibody candidates for human therapeutics. We believe the OmniAb animals comprise the most diverse host systems available in the industry. Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B-cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, are used to identify fully-human antibodies with exceptional performance and developability characteristics. We provide our partners both integrated end-to-end capabilities and highly customizable offerings, which address critical industry challenges and provide optimized discovery solutions. Our business model aligns scientific and economic interests of our partners through structured agreements that generally include upfront/access fees, service revenue, milestones and royalties on commercial sales.
For more information, please visitwww.omniab.com.
OmniAb, Inc.investors@OmniAb.comX@OmniAbTech
Alliance Advisors IRVivian Cervantesvcervantes@allianceadvisors.com(973) 873-7724