−Removed: licenses cutting edge discovery research technology to the pharmaceutical and biotech industry to enable the discovery of next generation therapeutics.
−Removed: Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies for our partners’ drug development efforts.
+Added: licenses cutting-edge discovery research technology to pharmaceutical and biotech companies and academic institutions to enable the discovery of next-generation therapeutics.
+Added: Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies and other target-binding proteins for our partners’ drug development efforts.
At the heart of the OmniAb platform is something we call Biological Intelligence TM , which powers the immune systems of our proprietary, engineered transgenic animals to create optimized antibody candidates for human therapeutics.
We believe the OmniAb animals comprise the most diverse host systems available in the industry.
−Removed: Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, are used to
−Removed: identify fully-human antibodies with exceptional performance and developability characteristics.
+Added: Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, are used to identify fully human antibodies with exceptional performance and developability characteristics.
We provide our partners both integrated end-to-end capabilities and highly customizable offerings, which address critical industry challenges and provide optimized discovery solutions.
−Removed: As of December 31, 2023, we had 77 active partners with 325 active programs using the OmniAb technology platform, including 28 OmniAb-derived antibodies in clinical development by our partners, one under regulatory review, and three approved products of our partners.
+Added: Our business model aligns our interests with the scientific and economic interests of our partners through structured platform license agreements that generally include upfront or annual access fees, service revenue, milestones and royalties on commercial sales.
+Added: As of December 31, 2024, we had 91 active partners with 363 active programs using the OmniAb technology platform, including 28 OmniAb-derived antibodies in clinical development by our partners, one under regulatory review, and three approved products developed and commercialized by our partners.
Our proprietary transgenic animals, including OmniRat ® , OmniChicken ® and OmniMouse ® have been genetically modified to generate antibodies with human sequences to streamline the development of human therapeutic candidates.
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OmniTaur ™ provides cow-inspired antibodies with unique structural characteristics for challenging targets.
−Removed: In May 2023, we announced the launch of OmniDeep™, a suite of in silico, AI and machine learning tools for therapeutic discovery and optimization that are woven throughout our various technologies and capabilities.
−Removed: These tools include structural modeling, molecular dynamics simulations, large multi-species antibody databases, artificial intelligence, machine learning, deep learning models and more.
−Removed: OmniDeep is designed to expedite the identification of candidates with the optimal affinity, specificity and developability profiles required for successful drug development.
−Removed: In November 2023, we launched Omni dAb TM , an in vivo platform for the discovery of single domain antibodies based upon a human VH scaffold that affinity matures in a chicken host environment to provide a functionally diverse immune repertoire unavailable from mammalian systems.
−Removed: We offer the industry’s only 4-species platform with differentiated technologies and capabilities.
−Removed: Our technology investments are deliberate and designed to enable our partner-centric business model to leverage the most cutting-edge solutions and solve the biggest challenges in antibody drug discovery.
−Removed: Some partners prefer integrated end-to-end discovery capabilities, while others prefer to use some of our technologies within their own labs.
−Removed: This flexibility not only provides value to our partners, but also allows for scalability of our business since we do not have to build out capacity for partners that prefer to incorporate our technologies in their processes.
−Removed: The breadth and depth of our partner-centric model benefits our investment decision-making by providing critical insights into the current and future needs of the pharmaceutical industry.
−Removed: Antibodies are among the fastest growing class of drugs and are used across multiple therapeutic areas including oncology, immunology, and neurodegeneration.
−Removed: The favorable drug-like properties of antibodies (compared with other modalities such as small molecules) include high on-target specificity, limited off-target toxicity, superior immune stimulation, and the ability to modulate half-life circulation in serum resulting in less frequent dosing regimens.
−Removed: These benefits have accelerated investment in antibody therapeutics and have also resulted in higher success rates for antibody therapeutics as a drug class, according to Clinical Development Success Rates and Contributing Factors 2011-2020, a study of over 9,000 clinical development programs published by Biotechnology Innovation Organization (BIO).
+Added: Omni dAb ™ is an in vivo platform for the discovery of single-domain antibodies based upon a human VH scaffold that affinity matures in a chicken host to provide functionally diverse immune repertoires.
+Added: Our proprietary technologies are joined with and leverage OmniDeep ™ , which is a suite of in silico , artificial intelligence (“AI”) and machine learning tools for therapeutic discovery and optimization that are woven throughout our various technologies and capabilities.
+Added: Additionally, we have an established core competency focused on ion channels and transporters that further differentiates OmniAb’s technology and creates opportunities in many important and emerging target classes.
+Added: OmniAb technologies can be leveraged for the discovery of a variety of next-generation antibody-based therapeutic modalities, including bi- and multi-specific biologics, antibody-drug conjugates, CAR-T therapies, targeted radiotherapeutics and many others.
+Added: Antibodies are one of the fastest growing class of drugs and are used across multiple therapeutic areas including oncology, immunology, and neurodegeneration.
+Added: Compared with other modalities like small molecules, antibodies offer favorable drug-like properties such as high on-target specificity, limited off-target toxicity, superior immune stimulation, and the ability to modulate half-life circulation in serum, resulting in less frequent dosing regimens.
+Added: These benefits have accelerated investment in antibody therapeutics and led to higher success rates for this drug class, according to a study of over 9,000 clinical development programs published by Biotechnology Innovation Organization (BIO).
+Added: In addition, the Inflation Reduction Act (IRA), United States legislation that was enacted in 2022, provides an incentive to pursue biological (large molecule) products rather than small molecule drugs, as biological products are potentially subject to Medicare price negotiation 11 years after approval, while small molecule drugs become potentially eligible 7 years after approval.
These factors have led to substantial investment in antibody development, which we believe will continue to expand the total addressable market for leading antibody discovery technologies.
−Removed: While industry momentum has resulted in an overall increase in the number of antibody therapeutic approvals per year, discovery approaches and technology access have become increasingly fragmented and inefficient.
−Removed: While many biotechnology and pharmaceutical companies bring a focused approach to science, their biological hypotheses are often pursued utilizing suboptimal antibody discovery methods due to reliance on legacy technologies.
−Removed: In addition, these companies are slow to integrate newer technologies at their facilities or replace outdated workflows.
−Removed: These legacy approaches are burdened with critical disadvantages including low antibody diversity, lengthy discovery timelines often heavily reliant on optimization engineering to mitigate the risks of immunogenicity and toxicity, limited functional parameter data, excess costs or lack of flexibility.
−Removed: We believe that by eliminating the need for each company to build a comprehensive antibody discovery engine, we can unlock innovation and value across a broad and diverse network of partners.
−Removed: We believe our comprehensive, biologically-driven technology platform provides the industry with a cutting-edge solution for the critical components of antibody discovery.
−Removed: By providing leading antibody discovery solutions to the industry, we aim to increase the probability of success, reduce costs and shorten development timelines for our partners.
−Removed: Our cutting-edge technologies are modular and create a complete and scalable solution.
−Removed: These technologies also can be individually integrated into our partners’ internal or external workflows, which allows us to provide our partners with both integrated end-to-end discovery solutions and highly customizable, program-by-program offerings, addressing critical industry challenges with optimized discovery solutions.
−Removed: Our technology platform is a suite of integrated technologies designed to discover a wide range of high-quality therapeutic antibodies that leverage the inherent diversity produced by transgenic animals and high throughput single-cell screening, as depicted in the figure below.
−Removed: Technologies within the OmniAb platform improve the productivity and efficiency of each step of the discovery process:
+Added: However, the IRA also imposes additional burdens on the pharmaceutical industry, as discussed in the section titled “Risk Factors - Healthcare reform efforts aimed at lowering the price of biopharmaceutical products may impact our ability to maintain sufficient profits .”
+Added: We believe that our comprehensive, biologically-driven technology platform offers the industry an advanced solution for critical aspects of antibody discovery.
+Added: By providing leading-edge antibody discovery solutions, we aim to enhance the probability of success, reduce costs, and accelerate development timelines for our partners.
+Added: Our cutting-edge technologies are modular, creating highly scalable solutions for antibody discovery.
+Added: These technologies can be seamlessly integrated into our partners’ internal or external workflows, allowing us to offer both comprehensive end-to-end discovery solutions and highly customizable, program-specific offerings.
+Added: This flexibility enables us to address key industry challenges with optimized discovery solutions.
+Added: As part of our efforts to enhance the partner experience, we launched OmniHub ™ in December 2024.
+Added: This high-dimensional unified bioinformatics portal is designed to enable scalable and secure data transfer, advanced visualization, and computational tool access.
+Added: OmniHub is designed to enhance the efficiency of antibody discovery by automating data handling and enabling machine learning, AI tools and bioinformatics, within a unified interface for collaborative data visualization and analysis.
+Added: Our platform integrates technologies designed to discover a wide range of high-quality therapeutic antibodies that leverage the inherent diversity produced by transgenic animals and high-throughput single-cell screening, as depicted in the figure below.
+Added: Technologies within the OmniAb platform improve the productivity and efficiency of critical steps of the discovery process:
• Create Diverse Antibody Repertoires.
We believe that generating large and diverse repertoires of naturally optimized antibodies increases the chances of discovering the antibody with the most desirable therapeutic characteristics.
+Added: We leverage computationally powered antigen design to tackle challenging therapeutic targets.
+Added: Our antigen solutions team, guided by molecular modeling and protein design capabilities, oversees the cloning, expression, purification, reconstitution, and quality control of purified native-conformation membrane proteins for immunization and screening.
+Added: Antigens can be prepared in specific conformations using protein or small molecule chaperones.
+Added: This variety of protein antigen formats enhances the likelihood of generating robust immune responses with desired specificities from any OmniAb antibody platform.
+Added: Antigen production is integrated with our therapeutic antibody discovery platform, providing access to high-quality membrane protein antigens for immunization campaigns.
We have assembled and developed a suite of transgenic animal and antigen technologies that are designed to generate a large and diverse pool of high-quality antibodies.
At the heart of the OmniAb technology platform is the Biological Intelligence of our proprietary transgenic animals that have been genetically modified to generate antibodies with human sequences which are naturally optimized through in vivo affinity maturation.
−Removed: We offer the industry’s only four-species platform to address a wide range of biological challenges facing our partners in their antibody discovery efforts.
−Removed: We combine our transgenic animals with proprietary antigen technology and immunization techniques to generate high-quality antibodies for even the most difficult biological challenges, including but not limited to difficult and complex targets such as ion channels, G protein-coupled receptors (“GPCRs”), transporters, and other transmembrane proteins.
−Removed: Our antigen design technology includes transmembrane and cell-surface protein technology that we own or exclusively license.
+Added: We offer the industry’s only four-species platform, designed to address a wide range of biological challenges encountered by our partners in their antibody discovery efforts.
+Added: We combine our transgenic animals with our proprietary antigen technology and immunization techniques to generate high-quality antibodies for even the most difficult biological challenges, including but not limited to difficult and complex targets such as ion channels, G protein-coupled receptors (“GPCRs”), transporters, and other transmembrane proteins.
The various OmniAb novel animal-based technologies are depicted in the figure below.
We believe that natural antibodies are superior to other antibody generation methods due to the immune system’s ability to naturally select quality, and already-optimized antibodies through a process that has evolved over 500 million years.
−Removed: According to the Antibody Society Database of Antibody Regulatory Approvals, as of December 30, 2022, over 90% of all approved antibody drugs had been derived from natural immune systems, which we believe is due to their ability to make antibodies with superior drug-like properties.
+Added: According to the Antibody Society Database of Antibody Regulatory Approvals, as of December 22, 2024, it is estimated that over 90% of all approved antibody drugs have been derived from natural immune systems, which we believe is due to their ability to make antibodies with superior drug-like properties.
The evolutionary divergence of different species has resulted in some animals developing unique mechanisms that increase their immune system effectiveness to certain antigens.
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We then set up multiple breeding colonies of our genetically modified animals for use in partners’ discovery efforts.
−Removed: While there are several commercially available options when considering transgenic mice, OmniAb is the only four-species platform, with the world’s only transgenic mouse, rat and chicken technologies, in addition to a cow antibody humanization technology.
+Added: While there are several commercially available options when considering transgenic mice, OmniAb is the only four-species platform, which include transgenic mouse, rat and chicken technologies, in addition to a cow antibody humanization technology.
Each animal has unique and complementary characteristics that address key challenges in antibody discovery.
• Screen Antibody Candidates.
−Removed: Each antibody is made by an antibody-producing cell, known as a B cell, that contains the genetic sequence that encodes its unique antibody.
+Added: Each antibody is made by an antibody-producing cell, known as a B cell, which contains the genetic sequence that encodes its unique antibody.
When presented with an antigen, the immune system will respond by creating millions of alternative antibodies, selecting those that best neutralize the perceived threat.
Large antibody repertoires can present a screening challenge in identifying antibodies with the most optimal candidate drug profiles.
−Removed: In addition to the enormous number of different antibodies generated, individual B cells are microscopic, generate only a miniscule amount of antibody protein, and are difficult to grow in laboratory conditions.
−Removed: The amount of antibody produced by an individual B cell is too small to be tested directly using conventional methods.
−Removed: As a result, scientists have relied on the hybridoma method for antibody discovery for the past 45 years.
−Removed: During this process, B cells are fused with a certain type of cancer cell, which immortalizes the B cells allowing them to be grown into sufficient quantities for the antibodies to be tested with conventional laboratory equipment (e.g.
−Removed: 96-well plates) or methods.
−Removed: This process takes approximately 8 to 12 weeks, and is extremely inefficient, leading to losses of 99.9% of the relevant immune repertoire diversity from the beginning of the process.
−Removed: Despite these significant limitations, hybridoma remains a commonly used technology in the pharmaceutical industry.
−Removed: In contrast, we analyze B cells individually using our proprietary xPloration® and Gel Encapsulated Microenvironment (“GEM”) platforms.
−Removed: The xPloration platform is an AI-powered single-cell microcapillary platform that quickly provides multi-dimensional profiling data on tens of millions of cells.
−Removed: This proprietary technology uses a chip with 1.5 million microcapillaries that are loaded with individual secreting B cells.
−Removed: Chips are processed through automated imaging, then AI-powered machine vision algorithms analyze and identify thousands of B cells that express antibodies with the desired characteristics.
−Removed: Our AI algorithms are internally-developed or empowered by the industry leading LandingLens TM platform developed by Landing AI.
−Removed: Using technology we own or license from Stanford University, thousands of AI-selected B cells are recovered within minutes using lasers that break the capillary forces and drop the B cell into wells for sequencing.
−Removed: The process can screen up to 40 million cells and recover thousands of paired sequences within only a few hours.
−Removed: We believe the xPloration platform provides industry-leading screening and cell recovery and enables the discovery of rare cells that would be missed with other systems that only evaluate a small percentage of a repertoire.
+Added: While the industry primarily relies on a hybridoma method for antibody discovery, we analyze B cells individually using our proprietary xPloration® and Gel Encapsulated Microenvironment (“GEM”) platforms.
+Added: GEM technology isolates single B cells from an immunized animal into droplets with reporters presenting the target antigen.
+Added: Secreted antibodies bind to these reporters and are then detected via fluorescent probes.
+Added: Millions of GEMs can be analyzed simultaneously, and those with desired antibodies can be harvested, cloned, and expressed for further study.
+Added: OmniAb’s AI-powered xPloration uses microcapillary plates with approximately 1.5 million capillaries to screen individual secreting B cells.
+Added: Automated imaging and AI algorithms, empowered by the LandingLens TM platform developed by Landing AI, identify B cells with desired binding profiles, and a rapid laser-based recovery process efficiently retrieves B cells for sequencing and expression cloning.
+Added: xPloration enhances antibody discovery for partner campaigns using the entire suite of OmniAb transgenic animals and is designed to optimize discovery efficiency through new functional screening assays and large-scale repertoire mining.
+Added: The process can screen up to tens of millions of cells and recover thousands of paired sequences within only a few hours.
+Added: We believe the xPloration platform provides industry-leading screening and cell recovery compared to other spatial separation techniques and enables the discovery of rare cells that would be missed with other systems that only evaluate a small percentage of a repertoire.
• Identify the Right Antibody.
−Removed: Our discovery teams work closely with partners, as needed, to identify the right antibody for a particular target product profile.
−Removed: Antibody candidates identified through our screening technologies are further characterized through a series of performance assays including in silico and in vitro testing to select the right antibody for our partners’ needs.
−Removed: Both the xPloration and GEM technologies identify potentially thousands of therapeutic antibody candidates which must then be narrowed to a small number of leads.
−Removed: Our team is flexibly positioned to work directly with partners to develop customized work plans and screening approaches that meet their antibody design specifications.
−Removed: We also assist our partners in their own downstream activities to ultimately find the right antibody for further development.
+Added: Our discovery teams assist our partners, as needed, to identify the right antibody for a particular target product profile by further characterizing antibody candidates identified through our screening technologies using a series of performance assays including in silico and in vitro testing.
+Added: Our screening technologies identify potentially thousands of therapeutic antibodies which must then be narrowed to a small number of candidates.
+Added: Our team is positioned to flexibly work directly with partners to develop customized work plans and screening approaches that meet their antibody design specifications.
+Added: We are also able to assist our partners in their own downstream activities to ultimately find the right antibody for further development.
Assays include high-throughput epitope binning and kinetics analysis, and target-specific functional assays.
−Removed: Functional data combined with the large amounts of data generated from xPloration provide a comprehensive view of the immune response and allow our partners to select antibodies for even the most stringent design criteria.
+Added: Functional data combined with the large amounts of data generated from screening provide a comprehensive view of the immune response and allow our partners to select antibodies for even the most stringent design criteria.
When using other antibody sources, selecting the right antibody often requires significant modification to enhance certain desired characteristics in a process known as antibody optimization.
Introducing changes to enhance one characteristic can be detrimental to others, as it is challenging to co-optimize the multiple parameters that are desirable in a lead candidate.
−Removed: This results in a process that is lengthy, costly, and reliant on trial-and-error experimentation, that can lead to downstream risks.
+Added: This results in a process that is lengthy, costly, and reliant on trial-and-error experimentation, which can lead to downstream risks.
We believe that many of these challenges are averted by using natural immune systems that have evolved over 500 million years to naturally select antibodies that are optimized for their intended function.
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Optimized sequences are then re-expressed in an antibody format of choice and performance is further evaluated in analytical and bioassay evaluation to create a ranked list of potential leads for our partners.
−Removed: In addition to our antibody discovery solutions, we possess extensive capabilities focused on ion channels and transporters, and substantial x-ray fluorescence capacities.
+Added: In addition to our antibody discovery solutions, we possess extensive capabilities focused on ion channels and transporters.
Ion channels and transporters are key components in a wide variety of biological processes and have broad therapeutic applicability across cancer, metabolic disease, pain, neurological diseases, infectious diseases and others.
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Our license agreements with pharmaceutical and biotechnology partners generally include:
−Removed: (i) upfront or, in some instances, annual payments for technology access and payments for performance of research services;
−Removed: (ii) downstream payments in the form of preclinical, intellectual property, clinical, regulatory, and commercial milestones;
−Removed: and (iii) royalties on net sales of our partners’ products, if any.
+Added: (i) upfront or, in some instances, annual payments for technology access;
+Added: (ii) payments for performance of research services;
+Added: (iii) downstream payments in the form of preclinical, intellectual property, clinical, regulatory, and commercial milestones;
+Added: and (iv) royalties on net sales of our partners’ products, if any.
License agreements with academic institutions are typically structured with revenue sharing.
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In addition, we track our active partnered programs by reviewing our partners’ public announcements and maintaining close communications with our partners to the extent possible.
−Removed: In some instances, a partner may not publicly announce milestones in which case we are generally dependent on our partners to track, report and disclose milestones at the time of achievement.
−Removed: Our license agreements are typically terminable by our partners without penalty with specified notice.
+Added: In some instances, a partner may not publicly announce milestones, in which case, we would be generally dependent on our partner to track, report and disclose milestones at the time of achievement.
+Added: Our license agreements typically grant a perpetual license to our technology and are typically terminable by our partners without penalty with specified notice.
However, all milestone payments and royalties survive termination and continue with respect to any OmniAb-derived antibodies.
The royalty term is generally the longer of 10 years from the first commercial sale or through the last expiration in any jurisdiction of the patents covering such OmniAb-derived antibody.
−Removed: Importantly, our royalty term is typically linked to the composition-of-matter patents that our partners file related to the antibody discovered using our technology, which both lengthens and diversifies the royalty streams we receive.
+Added: Importantly, our royalty term is typically linked to the patents that our partners file related to the antibody discovered using our technology, which both lengthens and diversifies the royalty streams we receive.
Our typical royalty rates for antibody discovery contracts are currently in the low- to mid-single digits and can vary depending on other economic terms in the agreement.
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The below graph shows the growth in active partners, active programs and clinical programs and the number of programs that have entered clinical trials.
−Removed: As of December 31, 2023, there were 325 active antibody programs.
+Added: As of December 31, 2024, there were 363 active programs.
An active partner is one that has rights to an active program or has executed a license agreement in advance of initiating an active program.
−Removed: An active program is one in which research work has commenced or an antigen is introduced into our animals and also includes active clinical programs and approved products.
−Removed: Active clinical programs represents the number of unique programs for which an Investigational New Drug Application or equivalent under other regulatory bodies has been filed based on an OmniAb-derived antibody and which are in clinical development.
+Added: A partner is removed from the metric when the partner informs us they are terminating their license or they are no longer in business.
+Added: An active program is one in which research work has commenced or where an antigen is introduced into our animals and remains so as long as the program is actively being developed or commercialized.
+Added: Active programs also include active clinical programs and approved products.
+Added: Active clinical programs represents the number of unique programs for which an Investigational New Drug Application or equivalent under other regulatory regimes has been filed based on an OmniAb-derived antibody and which are in clinical development by our partners.
Approved products represents an OmniAb-derived antibody for which our partner has received marketing approval.
Our partners’ active clinical programs include monoclonal and bispecific antibodies discovered using OmniRat, OmniMouse, OmniFlic, or OmniChicken and target a range of therapeutic indications including oncology, immunology, and metabolic disorders.
−Removed: As our partners’ discovery and preclinical programs continue to mature, we expect the number of OmniAb-derived antibodies in clinical development by our partners to expand to include antibodies discovered using our newer OmniClic, OmniTaur and OmnidAb technologies.
+Added: As our partners’ discovery and preclinical programs continue to mature, we expect the number of OmniAb-derived antibodies in clinical development by our partners to expand to include antibodies discovered using our newer OmniClic, OmniTaur and Omni dAb technologies.
+Added: Our business metrics are subject to risk and uncertainties related to our dependence on our partners providing timely and accurate information.
+Added: In addition, changes in our key business metrics do not directly correlate to current revenues.
+Added: For more information, see the section titled “Risk Factors - Our management uses certain key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make strategic decisions, and such metrics may not accurately reflect all of the aspects of our business needed to make such evaluations and decisions, in particular as our business continues to grow .”
Industry Background
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Despite man-made technologies that try to imitate the natural selection process, over 90% of approved therapeutics are derived from natural immune systems.
−Removed: Our OmniAb transgenic animals take advantage of the immune system’s natural ability to produce high-quality antibodies, and have been genetically modified so the antibodies generated have human sequences.
−Removed: The evolutionary divergence of different species has resulted in some animals developing unique mechanisms that increase their immune system effectiveness to certain antigens.
+Added: Our OmniAb transgenic animals take advantage of the immune system’s natural ability to produce high-quality antibodies and have been genetically modified to generate antibodies with human sequences.
+Added: The evolutionary divergence of different species has resulted in some animals developing unique mechanisms that increase their immune systems’ effectiveness against certain antigens.
Each species has a unique way of combining antigen recognition, diversification mechanisms, and distinct structural features that support survival in the face of persistent exposure to evolving environmental threats.
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This is higher than the success rate of small molecule modalities, which had a 7.5% likelihood of receiving market authorization from the start of Phase 1 clinical trials in the United States.
−Removed: Additionally, recent data published by The Antibody Society suggests that the clinical success rate for monoclonal antibodies is trending higher.
+Added: Additionally, recent data published by The Antibody Society suggests that the clinical success rate for monoclonal antibodies might be trending higher.
Existing Industry Limitations
−Removed: Industry momentum has resulted in an overall increase in the number of antibody therapeutic approvals per year, despite drug discovery and development approaches that have become increasingly fragmented and inefficient.
−Removed: Both large and small pharmaceutical companies typically focus their research investments on novel biology and clinical development, rather than on enabling technologies.
−Removed: Reduced large pharmaceutical research investment in foundational discovery technologies has intensified fragmentation and created ripple effects for small biotechnology companies due to reduced investment in enabling technologies.
+Added: Industry momentum has resulted in an overall increase in the number of antibody therapeutic approvals per year, however, both large and small pharmaceutical companies typically prioritize their research investments in novel biology and clinical development over enabling technologies.
+Added: Reduced large pharmaceutical research investment in foundational discovery technologies has intensified fragmentation and created ripple effects for small biotechnology companies.
While many of these biotechnology companies bring a focused approach to science that prioritizes nimble movement and efficient decision making, their biological hypotheses are often tested utilizing suboptimal antibody discovery methods due to reliance on legacy technologies.
−Removed: Meanwhile, many larger companies have also continued to rely on legacy technologies for many processes related to antibody discovery, often due to the inability to selectively integrate newer technologies at their facilities or because the benefits of technological updates are limited by outdated workflows.
+Added: Many larger companies have also continued to rely on legacy technologies for many processes related to antibody discovery.
Key examples of the frequently utilized legacy technologies and their shortcomings include:
• Humanized wild-type antibodies .
−Removed: This process has been utilized over the last 25 years and attempts to capture the benefits of natural antibody optimization in a non-human species, typically a rodent (mouse or rat), followed by extensive ex vivo engineering steps for humanization, affinity maturation and developability optimization.
+Added: This process has been utilized over the last 25 years and attempts to capture the benefits of natural antibody optimization in a non-human species, followed by extensive ex vivo engineering steps for humanization, affinity maturation and developability optimization.
However, the ex vivo engineering steps that convert the animal antibody sequence into a human-like format may impact the desired therapeutic properties of the antibody, while residual non-human sequences may introduce immunogenicity concerns.
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There is a significant and growing disparity between today’s widely used legacy antibody discovery tools and the latest advances in antibody discovery technologies.
−Removed: Despite the increased investment into antibody drug development, there is often a slow adoption of newer technologies due to the lack of flexibility integrating these technologies into existing workflows.
These existing industry approaches are burdened with critical disadvantages including low antibody diversity, lengthy discovery timelines, limited functional parameter data, excess costs and lack of flexibility.
Our mission is to enable the rapid development of innovative therapeutics by pushing the frontiers of drug discovery technologies.
−Removed: We pursue this mission by enabling the discovery of high-quality therapeutic candidates and by being the partner of choice for pharmaceutical and biotechnology companies.
+Added: We pursue this mission by developing and licensing cutting edge discovery and screening technology and by being the partner of choice for pharmaceutical and biotechnology companies and academic institutions.
Our strategy to accomplish this includes the following:
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We intend to forge new partnerships with large pharmaceutical and biotechnology companies focused on antibody development.
−Removed: We also intend to increase the number of partnerships with smaller early-stage biotechnology companies by offering flexible deal structures and offerings.
+Added: We also intend to increase the number of partnerships with smaller early-stage biotechnology companies and academic institutions by offering flexible deal structures and offerings.
Through continual investment and expansion of our capabilities, we believe we have the opportunity to further enable our partners to capture additional value from our technologies.
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As an example, in 2023 we launched our OmniDeep and Omni dAb technologies responding to our understanding of pharmaceutical industry needs.
+Added: And in 2024 we launched OmniHub, a unified interface providing partners secure access to datasets to visualize their discovery campaign data with a variety of custom tools.
We intend to continue to invest in enabling technologies and evaluate strategic technology acquisitions to broaden our capabilities in the antibody discovery continuum.
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Our Technology
−Removed: The foundational technologies that power our technology platform are described below:
OmniRat was launched in 2012 and is the first example of a successful knock-out of the endogenous rat immunoglobulin genes coupled with transgenesis of human counterparts.
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The OmniRat shows high expression, normal human CDR-H3 length distribution, and normal hypermutation and affinity maturation.
−Removed: As of December 31, 2023, there are three approved OmniRat-derived antibodies and 24 additional antibodies in clinical development by our partners.
−Removed: OmniMouse was launched in 2014, and we designed this technology using the same transgenes as OmniRat to deliver fully human antibodies utilizing standard mouse-based protocols.
+Added: As of December 31, 2024, there are three approved products based on an OmniRat-derived antibody and 24 additional programs based on an OmniRat-derived antibody in clinical development by our partners.
+Added: OmniMouse was launched in 2014 and was developed using the same transgenes as OmniRat to deliver fully human antibodies utilizing standard mouse-based protocols.
OmniMouse expands the sequence diversity of our rat-based platforms (OmniRat and OmniFlic), offering easy conversion from wildtype mice while utilizing the same protocols.
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For partners who prefer to work with mice, OmniMouse provides a rapid solution to deliver fully human antibodies.
−Removed: As of December 31, 2023, there is one OmniMouse-derived antibody in clinical development by our partners.
+Added: As of December 31, 2024, there is one program based on an OmniMouse-derived antibody in clinical development by our partners.
OmniChicken was launched in 2016 and is the first successfully engineered bird with an immune system that can efficiently generate human sequence antibody repertoires for the discovery of therapeutic antibodies.
−Removed: OmniChicken and OmniClic, our bispecific transgenic chicken platform, offer naturally affinity-matured antibodies in an evolutionarily distant chicken host environment.
+Added: OmniChicken and OmniClic, our bispecific transgenic chicken platform, offer naturally affinity-matured antibodies in an evolutionarily distant chicken host.
As depicted in the figure below, more than 300 million years of evolutionary distance drives divergence between mammalian and avian orthologs, which are genes in different species that evolved from a common ancestral gene by speciation.
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OmniChicken antibodies bind to diverse epitopes on human targets with high affinity and additionally offer excellent developability profiles.
−Removed: As of December 31, 2023, there is one OmniChicken-derived antibody in clinical development by our partners.
+Added: As of December 31, 2024, there are two programs based on an OmniChicken-derived antibody in clinical development by our partners.
OmniTaur was launched in 2020 and provides cow-derived ultralong CDR-H3 antibodies with a human framework.
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We offer the only rat and chicken platform for generation of bispecific antibodies.
−Removed: Although bispecific antibody drugs have been researched for more than 30 years, only a limited number of bispecific antibodies have achieved regulatory approval.
−Removed: There are very few successful examples of large-scale manufacturing for a bispecific antibody, and the “common light chain format” is a technology designed to simplify and improve the efficiency of the production and purification of a classical asymmetric IgG like bispecific antibody.
−Removed: To generate these antibodies, we conduct parallel immunizations with two antigens and then engineer a bespoke version of the transgenic platform to generate a diverse set of heavy chains and ultimately bispecific therapeutic antibodies.
−Removed: Our bispecific antibodies are IgG antibodies, with a common light chain and different heavy chains.
+Added: We believe that the characteristics of our common and fixed light-chain platforms offer several advantages over current generation bispecific antibody technologies.
+Added: To generate these antibodies, we conduct parallel immunizations with two antigens and then engineer the two targeting arms of the antibody.
+Added: We then use functional screening to identify heavy chain pairs with balanced affinities for their targets, enabling robust purification of the bispecific antibodies for manufacturing purposes.
+Added: Our technology is designed to simplify and improve the efficiency of the production and purification of a classical asymmetric IgG like bispecific antibody.
+Added: This process is depicted in the figure below.
+Added: Our bispecific antibodies are IgG antibodies with a common or fixed light chain and different heavy chains.
Common light chain antibodies allow the pairing of targeting arms for bispecific and multi-specific antibodies without the complexity of ensuring correct heavy and light chain pairing.
Using this IgG format, the bispecific function can be introduced while maintaining the natural IgG-like format of the antibody.
−Removed: Both OmniFlic, our bispecific rat, and OmniClic, our bispecific chicken, express a fixed VK3-15 light chain which enables the formation of bispecific therapeutics through the combination of antibodies generated from either platform.
−Removed: We believe that the characteristics of our common light chain platforms offer several advantages over current generation bispecific antibody technologies.
−Removed: To generate bispecific antibodies, we conduct parallel immunizations with two antigens and then engineer the two targeting arms of the antibody as depicted in the figure below.
−Removed: We then use functional screening to identify heavy chain pairs with balanced affinities for their targets and support robust purification of the bispecific antibodies for manufacturing purposes.
+Added: Both OmniFlic, our bispecific rat, and OmniClic, our bispecific chicken, express either a common or fixed VK3-15 light chain which enables the formation of bispecific therapeutics through the combination of antibodies generated from either platform.
OmniFlic (Bispecific rat platform)
OmniFlic was launched in 2014 and is a fixed light-chain variation of OmniRat.
−Removed: The OmniFlic transgenic rat expresses a fixed VK3-15 light chain.
−Removed: OmniFlic features the same heavy chain transgene as OmniRat, which generates diverse repertoires upon immunization.
−Removed: OmniFlic is a fixed light-chain transgenic rat developed to facilitate the generation of bispecific antibodies.
−Removed: As of December 31, 2023, there are three OmniFlic-derived antibodies in clinical development by our partners.
+Added: While the OmniFlic transgenic rat expresses the same heavy chain transgene as OmniRat and generates diverse repertoires upon immunization, it also features the fixed VK3-15 light chain, allowing antibodies generated using these platforms to be combined to form a bispecific human antibody.
+Added: As of December 31, 2024, there are two programs based on an OmniFlic-derived antibody in clinical development by our partners.
OmniClic (Bispecific chicken platform)
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OmnidAb (sdAb chicken)
−Removed: OmniAb scientists recently developed a next generation engineered chicken called Omni dAb designed to express antibodies comprised of heavy chains devoid of light chains, unlike conventional IgG heavy chains.
−Removed: Such antibodies are referred to as single domain antibodies (“sdAbs”).
+Added: Omni dAb was launched in 2023 and is a next-generation engineered chicken platform with an optimized human framework for discovering novel high-affinity single-domain antibodies ("sdAbs") that have favorable developability profiles without requiring additional engineering steps.
+Added: Unlike conventional IgG heavy chains, Omni dAb is designed to express antibodies comprised solely of heavy chains, devoid of light chains.
In addition to other unique benefits and uses, sdAbs can be used to target novel epitopes as well as generate bispecific and multispecific antibodies.
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sdAbs can be assembled into various formats to “fit the biology” of a desired application, with various examples provided in the figure below.
−Removed: In November 2023, we launched the Omni dAb platform that features an optimized single-domain human framework for the discovery of novel high affinity sdAbs that demonstrate favorable developability profiles without requiring additional engineering steps.
STR Technology
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for its Fc-silencing platform technology, STR, which is based upon a proprietary engineered human Fc domain.
−Removed: The agreement provides OmniAb with the exclusive, sublicensable right to incorporate the STR technology into antibodies that have been generated using OmniAb’s antibody discovery platform.
−Removed: Screening Technologies
−Removed: We believe that the xPloration platform offers greatly improved screening and cell recovery compared to other leading, commercially available single-cell multi-dimensional profiling technologies.
−Removed: The xPloration screening throughput is designed to enable the discovery of rare cells that would likely be missed with other systems that are only able to evaluate a small portion of a repertoire.
−Removed: We pair this with next-generation sequencing to further expand the repertoire for potential hit expansion downstream if necessary.
−Removed: Our laser-based recovery process in xPloration retains heavy/light chain pairing of the antibodies, which directly provides potential lead antibody sequences bypassing the need for pairing algorithms that attempt to reconstruct the repertoire.
−Removed: The considerable throughput combined with retaining heavy/light chain antibody pairing can cut weeks or months off traditional discovery workflows for our partners.
−Removed: For certain development programs, we leverage our proprietary GEM technology.
−Removed: The GEM technology incorporates many of the same principles of the xPloration platform by isolating and performing multi-dimensional profiling of single B cells from an immunized animal.
−Removed: Small droplets encapsulate single B cells and reporters that present the target antigen on the surface of a bead or cell.
−Removed: Secreted antibodies from the B cell diffuse locally in the microenvironment where they can bind to reporters, which in turn can be detected with a fluorescent probe.
−Removed: Using different types of reporters in the microenvironment generates a multi-parameter binding profile of each antibody.
−Removed: Antigen specificity is determined by colocalization of signal with alternative bead and/or cell types.
−Removed: Millions of B cells can be examined in parallel to identify and recover those expressing antibodies of interest.
−Removed: Antibody-encoding sequences can then be cloned and expressed as recombinant antibodies for further characterization studies.
−Removed: Both the xPloration and GEM technologies are compatible with a wide variety of assay formats, including cell surface binding assays, reporter cell stimulation, multiplex target binding, and cross-reactivity screening.
−Removed: High throughput B cell screening is particularly valuable within the OmniAb ecosystem because of our unique animal offerings.
−Removed: While mouse hybridoma techniques have been available for decades, hybridoma generation methods for other species including chickens, and cows, are not available.
−Removed: As such, B cell screening with OmniAb’s platforms enables the discovery of unique antibodies from any host system.
−Removed: Next generation xPloration
+Added: The agreement provides OmniAb with the non-exclusive, sublicensable right to incorporate the STR technology into antibodies that have been generated using OmniAb’s antibody discovery platform.
+Added: xPloration Screening Technology
+Added: OmniAb’s AI-powered xPloration platform offers superior screening and cell recovery compared to other single-cell profiling technologies.
+Added: Its high-throughput enables the discovery of rare cells potentially missed by other systems or approaches.
+Added: Its rapid laser-based recovery process paired with next-generation sequencing enables further mining of immune repertoires for potential hit expansion.
+Added: These capabilities can save our partners weeks or even months as compared to traditional discovery workflows.
+Added: xPloration supports various assay formats and is valuable for high-throughput B cell screening within the OmniAb ecosystem.
+Added: While mouse hybridoma techniques have existed for decades, methods for other species like chickens and cows are unavailable.
+Added: OmniAb’s B cell screening platforms enable the discovery of unique antibodies from any host system.
OmniAb scientists and engineers recently developed a next generation xPloration instrument as depicted in the figure below.
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(“OMT”) in January 2016, Crystal Bioscience, Inc.® in October 2017, Ab Initio Biotherapeutics, Inc.
−Removed: in July 2019, Icagen, LLC in April 2020, xCella Biosciences, Inc.
+Added: in July 2019, the core assets of Icagen in April 2020, xCella Biosciences, Inc.
in September 2020 and Taurus Biosciences, LLC in September 2020.
In addition to acquisitions, we have advanced our technology platform through internal investment and innovation.
−Removed: Over the past five years, the OmniAb team has launched new transgenic animals, introduced computational antigen design, expanded internal capabilities in downstream processing, and developed internal data management and bioinformatics software.
−Removed: We have several internal projects in development including new transgenic animals, a next generation high-throughput microcapillary deep screening platform, in silico capabilities and a number of undisclosed technologies and projects.
+Added: Our investments in technology are based on the continuous feedback loop that we gain from our partner-centric model which provides us critical insights into the current and future needs of the industry.
The key technologies obtained through acquisition are listed below.
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The market for technologies that enable the discovery and development of therapeutic antibodies, such as ours, is global, characterized by intense competition and subject to significant intellectual property barriers.
−Removed: The solutions and applications offered by our competitors vary in size, breadth and scope, and given the broad promise of antibody therapeutics, we face competition from many different sources, including companies developing single-cell screening technologies, transgenic animals and antibody engineering technologies, using a variety of business models, including the development of internal pipelines of therapeutics, financial investment in partner programs, technology licensing, and the sale of instruments and devices.
−Removed: We also face competition from companies who use internal resources and technologies for their discovery capabilities, as well as integrated contract research organizations that use traditional hybridoma, phage, and yeast display technologies in discovery.
+Added: The solutions and applications offered by our competitors vary in size, breadth and scope, and given the broad promise of antibody therapeutics, we face competition from many different sources.
+Added: These include companies developing antigen design, transgenic animal platforms, single-cell screening technologies and antibody engineering technologies.
+Added: They employ various business models, such as developing internal therapeutic pipelines, investing financially in partner programs, licensing technology, and selling instruments and devices.
+Added: We also face competition from integrated contract research organizations that use traditional hybridoma, phage, and yeast display technologies in discovery.
Due to the significant interest and growth in antibody therapeutics more broadly, we expect the intensity of this competition to increase.
−Removed: We seek to provide our partners with the most advanced technologies for antibody drug discovery, including antigen design, transgenic animal platforms and single-cell analysis.
+Added: We seek to provide our partners with the most advanced technologies for antibody drug discovery, including antigen design, transgenic animal platforms, single-cell screening technologies and antibody engineering technologies.
Many emerging and established life sciences companies have been built around technologies that focus on one or a limited number of these steps.
Examples include:
−Removed: • in discovery using genetically engineered-mice, we face technical competition from companies that provide access to similar technologies, such as AbCellera Biologics Inc., Ablexis LLC, Adimab LLC, Alloy Therapeutics, Inc., Biocytogen Pharmaceuticals (Beijing) Co., Ltd., Harbour Antibodies BV, Leveragen, Inc., and Regeneron Pharmaceuticals, Inc.;
+Added: • in discovery using genetically-engineered rodents, we face technical competition from companies that provide access to similar technologies, such as AbCellera Biologics Inc., Ablexis LLC, Alloy Therapeutics, Inc., Biocytogen Pharmaceuticals (Beijing) Co., Ltd., Nona Biosciences, Leveragen, Inc., Regeneron Pharmaceuticals, Inc.
+Added: and Twist Bioscience Corporation;
• in the field of single-cell screening, we face technical competition from companies that provide access to similar technologies, such as AbCellera Biologics Inc., Bruker Corporation., HiFiBio Inc., and Sphere Fluidics Ltd.;
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Patent term may vary by jurisdiction and depend on a number of factors including potential patent term adjustments, patent term extensions, and disclaimers, and patent terms referenced below do not take into consideration such adjustments, extensions, or disclaimers.
−Removed: The patents and patent applications referenced below are in each case, as of March 1, 2024.
+Added: The patents and patent applications referenced below are in each case, as of February 28, 2025.
Technology Platform
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Our OmniAb antibody platform patent portfolio includes patents and applications obtained upon the acquisition of OMT in January 2016 and Crystal Bioscience in October 2017.
−Removed: We own patents directed to OmniAb animals and related inventions, including 24 issued patents in the United States, six issued patents in Europe, five issued patents in Japan, five issued patents in China, and counterpart patents granted in other countries.
+Added: We own patents directed to OmniAb animals and related inventions, including 26 issued patents in the United States, six issued patents in Europe, seven issued patents in Japan, five issued patents in China, and counterpart patents granted in other countries.
These patents include:
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patent directed to avian gonocytes and their method of manufacture, having an expiration date in 2031 without accounting for potentially available patent term adjustments and extensions or disclaimers;
−Removed: patents directed to transgenic chickens and chicken germ cells, and foreign counterparts including in Europe and Canada, all having an expiration date in 2032 without accounting for potentially available patent term adjustments and extensions or disclaimers;
+Added: patents directed to transgenic chickens and chicken germ cells, methods of modifying chicken germ cells, and foreign counterparts including in Europe and Canada, all having an expiration date in 2032 without accounting for potentially available patent term adjustments and extensions or disclaimers;
patents directed to transgenic chickens, methods of producing antibodies, including heavy chain antibodies, and isolated antibody-producing cells, all having an expiration date in 2032 without accounting for potentially available patent term adjustments and extensions or disclaimers;
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patent directed to transgenic chickens and methods of producing antibodies having an expiration date in 2036 without accounting for potentially available patent term adjustments and extensions or disclaimers;
+Added: patent directed to transgenic rodents, methods of producing antibodies, and chimeric polynucleotides, and a foreign counterpart in China, both having an expiration date in 2038 without accounting for potentially available patent term adjustments and extensions or disclaimers;
patent directed to transgenic chickens, and a counterpart in Japan, both having an expiration date in 2039 without accounting for potentially available patent term adjustment and extensions or disclaimers;
−Removed: We also own 12 pending U.S.
−Removed: patent applications, eight pending European patent applications, seven pending Japanese patent applications, one pending Chinese patent applications, and counterpart patent applications pending in other countries, all relating to our transgenic animals.
+Added: patent directed to transgenic chickens having an expiration date in 2039 without accounting for potentially available patent term adjustment and extensions or disclaimers.
+Added: We also own nine pending U.S.
+Added: patent applications, eight pending European patent applications, six pending Japanese patent applications, one pending Chinese patent applications, and counterpart patent applications pending in other countries, all relating to our transgenic animals.
Any patents issuing from these applications are expected to expire between 2028 and 2039, without accounting for potentially available patent term adjustments and extensions or disclaimers.
+Added: We also own several pending international patent applications, U.S.
+Added: patent applications, and counterpart patent applications pending in other countries, relating to novel antibodies generated with our transgenic animal platforms.
Our partners who use the OmniAb patented technology to generate novel antibodies may be entitled to separate, additional patent protection on such antibodies.
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Through this acquisition, we own issued patents and pending patent applications relating to screening methods and antibody engineering.
−Removed: Our patent portfolio includes six issued U.S.
+Added: Our patent portfolio includes five issued U.S.
patents and one pending U.S.
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These licensed patents have an expected expiry date in 2033, without accounting for potentially available patent term adjustments and extensions or disclaimers.
−Removed: OmniAb has an exclusive license from the Applied Biomedical Science Institute to a family of patent applications relating to the Picobody technology.
+Added: OmniAb has an exclusive license from the Applied Biomedical Science Institute to a family of patent applications relating to the Picobody TM technology.
The exclusive license is granted pursuant to a Collaborative Research Agreement in order to further the joint research activities contemplated therein related to the Picobody technology.
−Removed: Picobodies are very small immunoglobulin-based binding moieties that can be derived from a subclass of cow antibodies containing ultralong CDRH3 domains.
+Added: Picobodies are very small immunoglobulin-based binding moieties that can be derived from a subclass of cow antibodies containing ultralong CDR-H3 domains.
These licensed applications have an expected expiry date in 2042, without accounting for potentially available patent term adjustments and extensions or disclaimers.
B cell screening
−Removed: Our xPloration technology, obtained through acquisition of xCella Biosciences in 2020, includes a microcapillary platform for high throughput, automated screening of single B cells for specificity and bioactivity, which expands our existing single B cell assay capabilities in the OmniAb technology platform.
−Removed: The patent portfolio includes four issued patents in the U.S., one granted European patent, one issued patent in China, and two issued patents in Japan, as well as five pending U.S.
−Removed: patent applications, five pending European patent applications, four pending Japanese patent applications, three pending Chinese patent applications, and counterpart patent applications issued and pending in other countries.
+Added: Our xPloration screening technology, obtained through acquisition of xCella Biosciences in 2020, includes a microcapillary platform for high-throughput, automated screening of single B cells for specificity and bioactivity, which expands our existing single B cell assay capabilities in the OmniAb technology platform.
+Added: The patent portfolio includes six issued patents in the U.S., two granted European patents, one issued patent in China, and six issued patents in Japan, as well as five pending U.S.
+Added: patent applications, four pending European patent applications, two pending Japanese patent applications, three pending Chinese patent applications, and counterpart patent applications issued and pending in other countries.
These patents and applications are directed to methods and apparatus.
The patents and applications in our portfolio are expected to expire between 2036 and 2040, without accounting for potentially available patent term adjustments and extensions or disclaimers.
−Removed: We also have a non-exclusive license from Stanford University to two patent families relating to methods for extracting samples from microcapillary arrays, which together include four issued patents in the U.S., two issued patents in Europe, four issued patents in Japan, two issued patents in China, and pending applications in the U.S.
+Added: We also have a non-exclusive license from Stanford University to two patent families relating to methods for extracting samples from microcapillary arrays, which together include five issued patents in the U.S., two issued patents in Europe, four issued patents in Japan, two issued patents in China, and pending applications in China.
These licensed patents and applications have an expected expiry date in 2033 and 2036, without accounting for potentially available patent term adjustments and extensions or disclaimers.
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Ion Channel Platform
−Removed: In 2020, we acquired the core assets of Icagen, LLC, an early-stage drug discovery company focused on ion channel and transporter targets.
−Removed: Our ion channel platform has issued patents and pending patent applications directed to X-ray fluorescence-based detection of binding events and transport across barriers and related inventions, including 25 issued patents in the United States, seven issued patents in Europe, eight issued patents in Japan, and three issued patents in China.
−Removed: The portfolio also includes four pending U.S.
−Removed: patent applications, two pending European patent applications, and pending applications in China and Japan.
+Added: In 2020, we acquired the core assets of Icagen, an early-stage drug discovery company focused on ion channel and transporter targets.
+Added: Our ion channel platform has issued patents and pending patent applications directed to x-ray fluorescence-based detection of binding events and transport across barriers and related inventions, including 24 issued patents in the United States, six issued patents in Europe, seven issued patents in Japan, and three issued patents in China.
+Added: The portfolio also includes five pending U.S.
+Added: patent applications, four pending European patent applications, and pending applications in China and Japan.
These patents and applications are directed to methods and apparatus.
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We also use trademark rights to protect our brand.
−Removed: As of March 1, 2024, we own a total of 20 registered United States trademarks, seven pending United States trademarks, 129 registered foreign trademarks in various countries including China, the European Union, and Japan, and six pending foreign trademarks in various countries around the world.
−Removed: Our trademarks include our company name OMNIAB and product-specific names such as OMNICHICKEN, OMNICLIC, OMNIFLIC, OMNIDAB, OMNIMOUSE, OMNIRAT, and OMNITAUR, platform technology names such as ICAGEN, OMNIDEEP, PICOBODY TM , PICOBODIES TM, XPLORATION and XRPRO®, as well as slogans and marketing taglines such as “3 SPECIES, 1 LICENSE®,” “ABSOLUTELY OMNIAB®,” “BIOLOGICAL INTELLIGENCE,” and “NATURALLY OPTIMIZED HUMAN ANTIBODIES®.”
+Added: As of February 28, 2025, we own a total of 19 registered United States trademarks, fourteen pending United States trademarks, 149 registered foreign trademarks in various countries including China, the European Union, and Japan, and six pending foreign trademarks in various countries around the world.
+Added: Our trademarks include our company name OMNIAB and product-specific names such as OMNICHICKEN, OMNICLIC, OMNIFLIC, OMNIDAB, OMNIMOUSE, OMNIRAT, and OMNITAUR, platform technology names such as ICAGEN, OMNIDEEP, PICOBODY, PICOBODIES TM, XPLORATION and XRPRO®, as well as slogans and marketing taglines such as “ABSOLUTELY OMNIAB®,” “BIOLOGICAL INTELLIGENCE,” and “NATURALLY OPTIMIZED HUMAN ANTIBODIES®.”
Government Regulation
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In addition we and our partners are subject to additional healthcare regulation and enforcement under laws related to, among other things, state, federal and foreign anti-kickback, fraud and abuse, false claims, and transparency laws and regulations related to drug pricing and payments and other transfers of value made to physicians and other healthcare providers.
−Removed: Sales of therapeutics will depend substantially, both domestically and internationally, on the extent to which the costs of such therapeutics are paid by health maintenance, managed care, pharmacy benefit and similar healthcare management organizations, or reimbursed by government health administration authorities, private health coverage insurers and other third-party payors.
−Removed: Further, in the United States, the pharmaceutical industry has been the subject of major legislative initiatives that may affect the ability to profitably commercialize drugs, and similar developments in the EU may occur.
−Removed: For example, in August 2022 the Inflation Reduction Act of 2022 was signed into law and, among other things, it requires:
−Removed: manufacturers of certain drugs to engage in price negotiations with Medicare (beginning in 2026);
+Added: Sales of therapeutics will depend substantially, both domestically and internationally, on the extent to which the costs of such therapeutics are paid by health maintenance, managed care, pharmacy benefit and similar healthcare management organizations, or reimbursed by government health administration authorities, private health coverage insurers and other third-party payors, including government health programs in the United States, such as Medicare and Medicaid.
+Added: A primary trend affecting the healthcare industry is cost containment.
+Added: In the United States, the pharmaceutical industry has been the subject of major legislative initiatives that may affect the ability to profitably commercialize drugs and biological products.
+Added: Most significantly, in August 2022, the IRA was signed into law.
+Added: Among other things, the IRA requires manufacturers of certain drugs to engage in price negotiations with Medicare, with prices that can be negotiated subject to a cap;
imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation (first due in 2023);
−Removed: and replaces the Part D coverage gap discount program with a new discounting program (beginning in 2025).
−Removed: FDA Regulation of Intentionally Genetically Altered Animals
−Removed: The FDCA provides the FDA with authority to regulate as a drug intentionally genetically altered (“IGA”) animals, including where such animals are intended to produce human drugs.
−Removed: In general, any new animal drug is deemed unsafe and adulterated unless FDA has approved a new animal drug application (“NADA”) for its intended use, or unless such drug is only for investigational use and conforms to specified exemptions for such use under an Investigational New Animal Drug (“INAD”) exemption.
−Removed: However, although IGA animals may be subject to premarket approval requirements or the requirement for an INAD when used in research and development, in some circumstances the FDA has not required INADs or NADAs for such IGA animals.
−Removed: For example, in a draft guidance issued in January 2017, the FDA stated its intention to exercise enforcement discretion in a risk-based manner with regard to INAD and NADA requirements for certain IGA animals that are nonfood-producing species, taking into consideration the relative human, animal and environmental risks posed by such animals.
−Removed: The FDA has also stated it may modify its approach with respect to INAD or NADA requirements for other kinds or uses of animals based on its evaluation of risks.
−Removed: Failure to comply with applicable requirements may subject a company to FDA enforcement action, as noted above.
+Added: redesigns the Medicare Part D benefit (beginning in 2024);
+Added: and replaces the Part D coverage gap discount program with a new manufacturer discount program (beginning in 2025).
+Added: The Centers for Medicare & Medicaid Services has published the negotiated prices for the initial ten drugs, which will first be effective in 2026, and has published the list of the subsequent 15 drugs that will be subject to negotiation.
+Added: The IRA permits the Secretary of the Department of Health and Human Services (“HHS”) to implement many of these provisions through guidance, as opposed to regulation, for the initial years.
+Added: HHS has and will continue to issue and update guidance as these programs are implemented, although the Medicare drug price negotiation program is currently subject to legal challenges.
+Added: While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
+Added: Moreover, individual states in the United States have become increasingly active in developing proposals, passing legislation and implementing regulations designed to control drug pricing, including price or patient reimbursement constraints, discounts, formulary flexibility, marketing cost disclosure, drug price increase disclosure, and other transparency measures.
+Added: Some states have enacted legislation creating so-called prescription drug affordability boards, which ultimately may attempt to impose price limits on certain drugs in these states.
+Added: Similar developments affecting the healthcare industry may occur in the EU.
Data Privacy & Security
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Human Capital Resources
−Removed: We aim to attract and retain well-qualified and talented employees by offering competitive pay and a range of recognition and benefit programs.
−Removed: We are proud to provide our employees the opportunity to advance in their careers, investing in their career development as we focus on our corporate mission and objectives.
−Removed: We also have established employee resource groups/ committees to further employee and community engagement related to a variety of initiatives that include women-in-science, the environment and diversity, equity, inclusion and belonging.
As of December 31, 2024, we have 114 employees, including 82 employees engaged in research and development, and 42 employees with Ph.D.
−Removed: Our business development team has four dedicated professionals and our marketing team has two dedicated professionals.
+Added: Our business development team has six dedicated professionals and our marketing team has two dedicated professionals.
These business development and marketing functions are complemented with research and development staff attending a variety of scientific conferences, which help to increase the visibility of our technologies and our business development opportunities.
+Added: We aim to attract and retain well-qualified and talented employees by offering competitive pay and a range of recognition and benefit programs.
+Added: We are proud to provide our employees with the opportunity to advance in their careers, investing in their career development as we focus on our corporate mission and objectives.
+Added: We also have established employee resource groups and committees to further their connection and community engagement.
+Added: These relate to a variety of initiatives to promote our company culture as well as a sense of community and belonging and are open to all employees who are interested, regardless of their background.
+Added: We strive to create an environment where individuals, regardless of background, can excel and achieve their highest potential.
+Added: This applies across aspects of our company, including hiring, promotion, and development practices.
+Added: We believe our Company is stronger because of our employees’ range of experiences and backgrounds.
+Added: We strive to maintain an inclusive environment free from discrimination of any kind, including sexual or other discriminatory harassment.
+Added: Our employees have multiple channels available to them to report inappropriate behavior.
+Added: We also have a third-party ethics and compliance hotline system that facilitates anonymous internal and external reporting of complaints or concerns.
+Added: Any report of inappropriate behavior is promptly investigated with appropriate action taken.
Competitive pay and benefits
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We frequently benchmark our compensation practices and benefits programs against those of comparable companies in our industry and in the geographic areas where our primary facilities are located.
−Removed: We are committed to providing all of our employees with a fair and living wage, believing that our competitive compensation and benefits package enables us to attract and retain skilled labor.
+Added: We are committed to providing all our employees with a fair and living wage, believing that our competitive compensation and benefits package enables us to attract and retain skilled labor.
Our notable health, welfare and retirement benefits include:
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• subsidized health insurance;
+Added: • subsidized health and mental wellness benefits;
• 401(k) Plan with matching contributions;
−Removed: • tuition assistance program;
+Added: • education reimbursement program;
• paid time off.
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We prioritize attendance at scientific and technological meetings and conferences, providing employees with valuable education and networking opportunities, while increasing the visibility of our technologies.
−Removed: We ensure that our workforce has access to the resources and tools necessary for success in their respective roles.
+Added: We aim to provide our workforce access to the resources and tools necessary for success in their respective roles.
We also provide employees with access to an education reimbursement program to utilize for continual learning courses and relevant certifications.
−Removed: Diversity, equity, and inclusion
−Removed: We prioritize diversity, equity, and inclusion in all aspects of our company, including hiring, promotion, and development practices.
−Removed: As of December 31, 2023, women represented 54% of our global workforce and 56% of our leadership positions at the vice president level or above.
−Removed: Racial and ethnic minorities represented 51% of our employee base.
−Removed: Our employees span multiple age brackets and bring their unique perspectives to our organization.
−Removed: As of December 31, 2023, the average age of our employees was 44 years old, and 60% of our workforce is 40 years of age older.
−Removed: We believe our Company is stronger because of our employees’ diverse experiences and backgrounds.
−Removed: We strive to maintain an inclusive environment free from discrimination of any kind, including sexual or other discriminatory harassment.
−Removed: Our employees have multiple channels available to them to report inappropriate behavior.
−Removed: We also have a third-party ethics and compliance hotline system that facilitates anonymous internal and external reporting of complaints or concerns.
−Removed: Any report of inappropriate behavior is promptly investigated with appropriate action taken.
Corporate History and Background
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On October 31, 2022, APAC deregistered in the Cayman Islands and was domesticated as a corporation under the State of Delaware, and in connection with which APAC changed its name to “OmniAb, Inc.”.
−Removed: On November 1, 2022 (the “Closing Date”), in accordance with the terms of the Separation and Distribution Agreement, dated as of March 23, 2022 (the “Separation Agreement”), among APAC, Ligand Pharmaceuticals Incorporated (“Ligand”), OmniAb Operations, Inc.
−Removed: (formerly known as OmniAb, Inc.) (“Legacy OmniAb”), Ligand transferred the Legacy OmniAb business, including certain related subsidiaries of Ligand, to Legacy OmniAb and made a contribution to the capital of Legacy OmniAb (the “Separation”).
−Removed: Following the Separation, as contemplated by the Separation Agreement, Ligand distributed on a pro rata basis to its stockholders all of the common stock of Legacy OmniAb (the “Legacy OmniAb Common Stock”) held by Ligand, such that each holder of the common stock of Ligand (“Ligand Common Stock”) was entitled to receive one share of Legacy OmniAb Common Stock for each share of Ligand Common Stock held by such holder as of the record date for the distribution (the “Distribution”).
−Removed: Immediately thereafter, we consummated the merger (the “Merger”) pursuant to that certain Merger Agreement, dated as of March 23, 2022 (the “Merger Agreement”), by and among us (formerly known as APAC), Ligand Pharmaceuticals Incorporated (“Ligand”), OmniAb Operations, Inc.
−Removed: (formerly known as OmniAb, Inc.) (“Legacy OmniAb”), and Orwell Merger Sub Inc.
−Removed: (“Merger Sub”), pursuant to which Merger Sub merged with and into Legacy OmniAb, with Legacy OmniAb becoming our wholly owned subsidiary (the “Business Combination” and collectively with the other transactions described in the Merger Agreement, the “Transactions”) The closing of the Transactions on the Closing Date is referred to herein as the “Closing”.
−Removed: Unless the context otherwise requires, “we,” “us,” “our,” “OmniAb” and the “Company” refer to OmniAb, Inc., a Delaware corporation (formerly known as APAC), and its subsidiaries following the Closing.
+Added: On November 1, 2022, in accordance with the terms of the Separation and Distribution Agreement, dated as of March 23, 2022, among APAC, Ligand Pharmaceuticals Incorporated (“Ligand”), OmniAb Operations, Inc.
+Added: (formerly known as OmniAb, Inc.) (“Legacy OmniAb”), Ligand transferred the Legacy OmniAb business, including certain related subsidiaries of Ligand, to Legacy OmniAb and made a contribution to the capital of Legacy OmniAb.
+Added: Ligand then distributed on a pro rata basis to its stockholders all of the common stock of Legacy OmniAb held by Ligand, such that each holder of the common stock of Ligand was entitled to receive one share of Legacy OmniAb common stock for each share of Ligand common stock held by such holder as of the record date for the distribution (the “Distribution”).
+Added: Immediately thereafter, we consummated the merger (the “Merger”) pursuant to that certain Merger Agreement, dated as of March 23, 2022, by and among us (formerly known as APAC), Ligand, Legacy OmniAb, and Orwell Merger Sub Inc.
+Added: (“Merger Sub”), pursuant to which Merger Sub merged with and into Legacy OmniAb, with Legacy OmniAb becoming our wholly owned subsidiary (the “Business Combination”).
+Added: Unless the context otherwise requires, “we,” “us,” “our,” “OmniAb” and the “Company” refer to OmniAb, Inc., a Delaware corporation (formerly known as APAC), and its subsidiaries following the closing of the Business Combination.
Unless the context otherwise requires, references to “APAC” refer to Avista Public Acquisition Corp.
−Removed: II prior to the Closing.
+Added: II prior to the closing of the Business Combination.
All references herein to the “Sponsor” refer to Avista Acquisition LP II, the sponsor of APAC, and to the “Board” refer to the board of directors of OmniAb.
4 unchanged sentences
In addition, we may use X, formerly known as Twitter (@OmniAbTech), and our investor relations website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.
−Removed: Investors should monitor our X (Twitter) account and our website, in addition to following our press releases, SEC filings, public conference calls and webcasts.
−Removed: These website addresses and the information accessible through our X (Twitter) account are not intended to function as hyperlinks, and the information contained in our website and in the SEC’s website is not intended to be a part of this filing.
+Added: Investors should monitor our X social media account and our website, in addition to following our press releases, SEC filings, public conference calls and webcasts.
+Added: These website addresses and the information accessible through our X social media account are not intended to function as hyperlinks, and the information contained in our website and in the SEC’s website is not intended to be a part of this filing.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.