OmniAb secured a global collaboration and licensing agreement with Eli Lilly for an undisclosed ion channel discovery program. The deal includes an undisclosed upfront payment and potential milestones up to $370 million across research, development, and commercial phases, with both the target and modality not disclosed in the announcement. OmniAb framed the partnership as a step to apply its antibody discovery platform to ion channels, extending a growing record of large pharma collaborations. Lilly will gain access to OmniAb’s discovery capabilities as it builds its next-generation pipeline around therapeutically challenging modalities. For investors and partners, such large collaboration structures remain a signal of platform validation, with milestone-heavy terms indicating pharma confidence while preserving upside for the discovery company.