Ligand to Spin-Off its OmniAb Business Through Merger with Avista Public Acquisition Corp. II

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Mar 23, 2022

Ligand Pharmaceuticals Incorporated (Ligand) (NASDAQ: LGND) today announced the signing of a definitive merger agreement with Avista Public Acquisition Corp. II (APAC) (NASDAQ: AHPA), a publicly traded special purpose acquisition company (SPAC), providing for the spin-off of OmniAb, Inc. (OmniAb), Ligand’s antibody discovery business, immediately followed by a merger with a newly formed subsidiary of APAC. The combined company will be led by Ligand’s President, Matt Foehr, and will be renamed “OmniAb, Inc.”