Lig­and to split in half, spin­ning Om­niAb plat­form in­to its own com­pa­ny

It’s been six years since Lig­and Phar­ma­ceu­ti­cals plumped down $178 mil­lion for OMT and its an­ti­body dis­cov­ery plat­form Om­niAb. Now, with a slate of big-name part­ners, it’s time for the tech­nol­o­gy to take on a new life as its own in­de­pen­dent com­pa­ny, Lig­and said yes­ter­day.

Lig­and is split­ting in­to two sep­a­rate, pub­licly trad­ed busi­ness­es, the com­pa­ny an­nounced just af­ter the bell on Tues­day: one fea­tur­ing the Om­niAb busi­ness and the oth­er hous­ing Lig­and’s ex­ist­ing roy­al­ties and tech­nolo­gies, in­clud­ing its Pel­i­can pro­tein ex­pres­sion plat­form and Cap­ti­sol sol­u­bil­i­ty tech.

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