Ligand announces OmniAb partnership with iMetabolic Biopharma
Ligand Pharmaceuticals Incorporated announces it has entered into a worldwide OmniAb partnership with iMetabolic Biopharma Corporation, an early stage biopharma company located in Tempe, AZ. Under the terms of the partnership, iMBP gains access to the full OmniAb platform including OmniRat, OmniMouse, OmniFlic and OmniChicken in their drug discovery efforts. Ligand received an up-front license payment and is eligible to receive a tiered royalty on future potential sales of up to 6%. As part of the agreement, Ligand will fund and facilitate selected early antibody discovery activities and will in return receive an ownership position in iMBP. iMetabolic Biopharma Corporation will be responsible for pre-clinical and clinical development costs and commercialization costs.