Ligand Pharmaceuticals Inc. will spin off its antibody discovery business into a new entity known as OmniAb Inc., which will then merge with special-purpose acquisitions company Avista Capital Partners and head to the Nasdaq Stock Market.
Vir Biotechnology priced the company’s initial public offering (IPO) at $20 a share, at the bottom end of expectations, the latest underwhelming investment performance for a stock held by SoftBank Group Corp.’s Vision Fund.