Ligand Buys OMT For $178M

San Diego-based Ligand Pharmaceuticals said Thursday that it is paying $178M in cash and stock for genetic engineering firm OMT. OMT develops genetic engineering technology used to create human therapeutic antibodies through animals. Ligand said it will pay $178M, split between $92.6M in cash and $85.4M in Ligand common stock for OMT. OMT is based in Palo Alto.