EMERYVILLE, Calif.--(BUSINESS WIRE)--OmniAb, Inc. (NASDAQ:OABI), a provider of cutting-edge discovery research technology to enable the discovery of next-generation therapeutics, announces that it has appointed Amechi Nwachuku to the newly-created position of Executive Vice President and Chief Operating Officer, effective today. Mr. Nwachuku will be primarily responsible for managing the strategy, operations and commercial maximization of xPloration®, OmniAb’s proprietary, innovative high-throughput single B-cell screening platform.
Mr. Nwachuku has more than 25 years of experience, including leading multi-billion-dollar global life sciences tools businesses, with responsibility for driving commercial strategy, sales, marketing and integrated operations. Most recently, Mr. Nwachuku served as Vice President of Global Commercial Genetic Sciences at Thermo Fisher Scientific, and prior to that as Senior Vice President, Global Commercial, SCIEX at Danaher Corporation. Mr. Nwachuku also held senior executive roles within the Beckman Coulter Diagnostics business at Danaher and international leadership positions at Johnson & Johnson Diabetes Care and Bayer. Early in his career, he served as a management consultant at McKinsey & Company. He earned a Bachelor of Science in Chemical Engineering and his Master of Business Administration (MBA) from the Massachusetts Institute of Technology (MIT).
“Amechi is a seasoned global leader whose extensive experience and perspectives will further strengthen our executive management team,” said Matt Foehr, President and Chief Executive Officer of OmniAb. “Throughout his career, Amechi has established a proven track record of commercial and operational excellence, consistently driving growth, capitalizing on market opportunities, and efficiently creating value. Through ongoing discussions with our partners and market research, we’ve gained increasing confidence in the market opportunity for our xPloration platform. At the same time, our core antibody discovery technology licensing business continues to deliver strong performance, supported by a growing portfolio of high-value milestone and royalty-bearing programs. We believe that xPloration can be a meaningful complement to our licensing business, significantly expanding our growth opportunities and further diversifying our future revenue streams.”
Mr. Nwachuku added, “I am excited to join the innovative team at OmniAb, which has already demonstrated the power of its xPloration platform and its potential to make a meaningful impact in the lab. My enthusiasm only grew as I learned more about the company, its differentiated technologies and the growth potential of xPloration, designed to meet the industry’s growing demand for large datasets and reliable, easy-to-use, high-throughput screening. I am proud to join OmniAb and look forward to helping take it to the next level.”
About xPloration®
xPloration represents a significant advancement in single B-cell screening and antibody discovery, designed to bolster antibody discovery output for partner campaigns using the entire suite of OmniAb transgenic animals and optimize antibody discovery efficiency through new types of functional screening assays and large-scale mining of repertoires. OmniAb’s AI-powered xPloration utilizes a through-hole format that enables the examination of millions of antibody secreting cells and a proprietary laser recovery method support the quick recovery of thousands of sequences.
For more information, please visit www.omniab.com/technology/xploration/ or www.xploration.com/.
About OmniAb®
OmniAb licenses cutting-edge discovery research technology to pharmaceutical and biotech companies and academic institutions to enable the discovery of next-generation therapeutics. Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies and other target-binding proteins for our partners’ drug development efforts. At the heart of the OmniAb platform is what we call Biological Intelligence™, which powers the immune systems of our proprietary, engineered transgenic animals to create optimized antibody candidates for human therapeutics. We believe the OmniAb animals comprise the most diverse host systems available in the industry. Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B-cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, are used to identify fully-human antibodies with exceptional performance and developability characteristics. We provide our partners both integrated end-to-end capabilities and highly customizable offerings, which address critical industry challenges and provide optimized discovery solutions. Our business model aligns scientific and economic interests of our partners through structured agreements that generally include upfront/access fees, service revenue, milestones and royalties on commercial sales.
For more information, please visit www.omniab.com.
Forward-Looking Statements
OmniAb cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. Words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” and similar expressions, are intended to identify forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: statements regarding the market opportunity for xPloration and OmniAb’s business, the value of our portfolio and growth prospects of our business, including diversifying future revenue; continuation of our innovation efforts and the expected value and performance of our technologies and the opportunities they may create, including xPloration; and the potential contributions to our business by our xPloration partner access program. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our future operating results and success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain; risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; government healthcare reform, legislative measures and regulatory developments in the United States and foreign countries; unstable market and economic conditions may have serious adverse consequences on our business, financial condition and stock price; the potential impact of tariffs, trade policies, geopolitical instability and conflicts, inflation and interest rate changes; we may not achieve our financial guidance; our operating expenses may be higher than we anticipate, including if we decide to engage in activities not currently in our plan or if we face unexpected, or higher than anticipated, expenses; we may use our capital resources sooner than we expect; and other risks described in our prior press releases and filings with the SEC, including under the heading “Risk Factors” in our annual report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contacts
OmniAb, Inc.
investors@OmniAb.com
X@OmniAbTech
Alliance Advisors IR
Vivian Cervantes
vcervantes@allianceadvisors.com
(973) 873-7724
