Eli Lilly signs up to $370 million ion-channel collaboration with OmniAb

Eli Lilly announced a collaboration and licensing agreement with California-based drug discovery company OmniAb that will focus on ion-channel targets.

The deal could see Lilly paying up to $370 million, subject to milestones and royalties, to gain access to OmniAb's platform and candidate molecules.

In the same briefing, Slate and Fulcrum were reported to be moving forward with a reverse merger, though details were not disclosed.