OmniAb

Ligand Pharma turns to a SPAC to take antibody biz public, raise up to $266M

OmniAb, the antibody division of Ligand Pharmaceuticals, is set to go public through a SPAC merger that will infuse the business with up to $266 million. The deal comes as traditional IPOs have mostly ground to a halt due to uncertain market conditions, but Ligand is making a longer-term bet on growing demand for antibody drug discovery services.

By Frank Vinluan

BioPharma, Pharma

Ligand Pharma antibody spinoff plan sets up competition with AbCellera, Adimab

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.

By Frank Vinluan