OmniAb Appoints Steve Love to its Board of Directors

Rhea-AI Summary

OmniAb, Inc. (NASDAQ: OABI) appoints Steve Love to its Board of Directors. Mr. Love has over 30 years of financial experience and will serve on OmniAb's Audit Committee as Chair. With this appointment, the OmniAb Board now has seven directors, including five independent directors.

EMERYVILLE, Calif.--(BUSINESS WIRE)-- OmniAb, Inc. (NASDAQ: OABI) today announced the appointment of Steve Love to its Board of Directors. Mr. Love has more than 30 years of financial experience including more than 13 years serving in Chief Financial Officer positions, and will serve on OmniAb’s Audit Committee as Chair. With this appointment the OmniAb Board returns to seven directors, including five independent directors.

“We are delighted Steve has agreed to join the OmniAb Board of Directors and extend a warm welcome,” stated John Higgins, OmniAb Board Chair. “Steve’s vast financial expertise, technical knowledge and experience leading technology and biotechnology companies will be valuable assets as we grow and expand our business. We look forward to leveraging his financial insights and deep transactional knowledge to further drive OmniAb’s strategy and success.”

“My industry experiences have ranged from machine learning and AI-enabled software to biotechnology and therapeutics, and I am excited to bring that insight to OmniAb’s cutting-edge technologies,” stated Mr. Love. “Matt Foehr and the OmniAb team have built a best-in-class suite of proprietary transgenic animals, screening and other technologies that create an exciting growth engine for the future. I look forward to partnering with executive management and the Board as we advance our business strategy.”

Mr. Love is currently the Chief Financial Officer of Heap Inc., a leading machine learning-enabled digital analytics software company. Prior to Heap, Mr. Love spent nearly 30 years in finance leading the growth strategy and data-driven decision making at Juniper Square Inc., Dialpad Inc., Mblox Inc., Affymax, Inc. and Connetics Corporation, among other companies. As a financial leader, Mr. Love has overseen more than $750 million in fundraising from top-tier venture capital firms, led buy- and sell-side M&A transactions totaling more than $2 billion in transaction value, and been responsible for worldwide teams across finance, legal, data analytics, facilities and human resources. He began his career at Ernst & Young LLP supporting private and public biotechnology and software companies.

Mr. Love holds a Masters in Accounting and a B.S. in Accounting from the University of Southern California, and is a Certified Public Accountant in California (inactive).

About OmniAb^®

OmniAb’s discovery platform provides pharmaceutical industry partners access to diverse antibody repertoires and high-throughput screening technologies to enable discovery of next-generation therapeutics. At the heart of the OmniAb platform is the Biological Intelligence^™ (BI) of our proprietary transgenic animals, including OmniRat^®, OmniChicken^® and OmniMouse^® that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. OmniFlic^® (transgenic rat) and OmniClic^® (transgenic chicken) address industry needs for bispecific antibody applications through a common light chain approach, and OmniTaur^™ features unique structural attributes of cow antibodies for complex targets. We believe the OmniAb animals comprise the most diverse host systems available in the industry and they are optimally leveraged through 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 to identify fully human antibodies with superior performance and developability characteristics. These proprietary technologies are joined with and leverage OmniDeep^™, which is a suite of in silico tools for therapeutic discovery and optimization that are woven throughout OmniAb’s various technologies and capabilities. Additionally, an established core competency focused on ion channels and transporters further differentiates OmniAb’s technology and creates opportunities in many emerging target classes. OmniAb antibodies have been leveraged across modalities, including bispecific antibodies, antibody-drug conjugates and others.

The OmniAb suite of technologies span from BI-powered repertoire generation to cutting-edge antibody discovery and optimization offering a highly efficient and customizable end-to-end solution for the growing discovery needs of the global pharmaceutical industry.

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 statements regarding the potential growth of our business based on our platform of technologies. 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 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; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; 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; and other risks described in our prior press releases and filings with the SEC, including under the heading “Risk Factors” in the 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231101823948/en/

OmniAb, Inc.

Neha Singh, Ph.D.

investors@OmniAb.com

X (Twitter) @OmniAbTech

(510) 768-7760

Source: OmniAb, Inc.

FAQ

Who has OmniAb, Inc. appointed to its Board of Directors?

OmniAb, Inc. has appointed Steve Love to its Board of Directors.

What is Steve Love's role on the OmniAb Board?

Steve Love will serve on OmniAb's Audit Committee as Chair.

How many directors are there on the OmniAb Board?

The OmniAb Board now has seven directors, including five independent directors.

What is Steve Love's background and experience?

Steve Love has over 30 years of financial experience, including more than 13 years serving as a Chief Financial Officer. He has worked in various technology and biotechnology companies and has overseen fundraising and M&A transactions totaling more than $2 billion.

What is Steve Love's current position?

Steve Love is currently the Chief Financial Officer of Heap Inc., a machine learning-enabled digital analytics software company.