Emeryville, Calif. and Indianapolis, Ind. — August 17, 2026 — OmniAb, Inc. (NASDAQ: OABI), a leading provider of discovery research technologies for next-generation therapeutics, today announced a global collaboration and license agreement with Eli Lilly and Company (NYSE: LLY) to discover novel antibody-based therapeutics targeting ion channels.
Under the terms of the agreement, OmniAb will leverage its proprietary technology platform and specialized expertise in ion channel discovery and screening to identify and optimize candidate biologics against an undisclosed ion channel target. Lilly will hold exclusive global rights to develop and commercialize any resulting therapeutic candidates and will be responsible for all future research, development, and commercialization activities.
Financial Terms
OmniAb will receive an undisclosed upfront payment and is eligible to receive up to $370 million in milestone payments contingent upon the achievement of specified research, development, and commercial milestones. In addition, OmniAb is entitled to tiered royalties on global net sales of any commercialized products arising from the collaboration. The specific therapeutic target and modality remain confidential at this time.
Executive Commentary
“We are pleased to enter into this important new relationship with Lilly,” said Matt Foehr, Chief Executive Officer of OmniAb. “This collaboration underscores the strategic value of our platform in addressing one of the most technically challenging classes of drug targets. Ion channels have long been considered ‘undruggable’ using conventional approaches, and our ability to generate high-quality antibody leads against these targets continues to attract top-tier pharmaceutical partners.”
A Lilly spokesperson stated: “Ion channels represent a high-priority area for innovation in multiple therapeutic indications. OmniAb’s unique capabilities in ion channel screening and antibody discovery align well with our goal of expanding our pipeline with differentiated modalities.”
About Ion Channels as Drug Targets
Ion channels are membrane proteins that regulate the flow of ions across cell membranes and play critical roles in numerous physiological processes, including nerve signaling, muscle contraction, and hormone secretion. Despite their therapeutic relevance, ion channels have historically been difficult to target with antibody-based drugs due to their complex structures and the technical challenges associated with functional screening. This collaboration aims to overcome these barriers using OmniAb’s specialized discovery engine.
About OmniAb, Inc.
OmniAb is a biotechnology company that provides cutting-edge discovery research technologies to enable the development of next-generation antibody therapeutics. The company’s platform integrates transgenic animal systems, advanced screening technologies, and proprietary assays to deliver high-quality antibody leads against challenging targets, including ion channels, GPCRs, and multi-pass membrane proteins.
About Eli Lilly and Company
Eli Lilly and Company is a global healthcare company that discovers, develops, manufactures, and markets products in the pharmaceutical and animal health segments. Headquartered in Indianapolis, Indiana, Lilly is committed to improving human health through innovative medicines and solutions.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the potential benefits of the collaboration, the receipt of milestone payments, and the development and commercialization of therapeutic candidates. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
About BioNextAI Market Insights
BioNextAI Market Insights is a media and intelligence company delivering timely, accurate coverage of breakthroughs in biotechnology, pharmaceuticals, and life sciences innovation.
Sources: OmniAb investor press release (August 17, 2026); FierceBiotech; Seeking Alpha; Yahoo Finance.
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