OmniAb to go public via merger with Avista Public Acquisition II in an $850m deal.

OmniAb, Ligand’s antibody discovery business, is set to go public via merger with Avista Public Acquisition II, a publicly traded special purpose acquisition company backed by Avista Capital Partners, in an $850m deal. "OmniAb’s merger with APAC and its subsequent status as a standalone public company will help propel the company toward a new phase of growth and value creation. The merger will empower OmniAb with access to the capital markets, strong cash reserves, the agility to drive innovation and a superb leadership team. We look forward to partnering with Matt and the entire organization as they continue to differentiate OmniAb as a critical partner in advancing drug discovery and development," David Burgstahler, APAC CEO.