Ligand Pharmaceuticals has turned a series of antibody discovery acquisitions into a growing business unit. Ligand now wants to spin it off as a separate company, but that new company will compete head to head against established antibody players AbCellera and Adimab.
In an article published in the journal mAbs Monday, executives from Adimab alleged that MIT's Ram Sasisekharan copied prior monoclonal antibody research. Visterra, a company Sasisekharan founded that had been developing one of the antibodies, was acquired by Otsuka for $430M last year.
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Compass Therapeutics, formed by leadership at fellow antibody discovery company Adimab, is raising $120 million.