Thursday, December 17, 2015

Open Monoclocal Technology Acquired By Ligand For $178M

Palo Alto-based OMT (Open Monoclonal Technology), a developer of genetic engineering technology to allow animals to create human, therapeutic antibodies, has been acquired by Ligand in a $178M deal. Ligand said it will pay $92.6M in cash and $85.4M in Ligand common stock for OMT. Ligand will also hire Roland Buelow, founder of OMT, as Vice President of Antibody Technologies. OMT currently says its partners include Amgen, ARMO, Celgene, Five Prime, Genmab, HanAll, Janssen, Merck KGaA, Pfizer, Seattle Genetics, Symphogen, along with others.