OmniAb said it entered a global collaboration and license agreement with Eli Lilly and Company for a new ion channel program, expanding the company’s roster of large pharmaceutical partnerships and reinforcing investor interest in ion channel drug discovery. Lilly will use OmniAb’s ion channel discovery and screening capabilities, while OmniAb will receive an undisclosed upfront payment and remain eligible for up to $370 million in research, development and commercial milestone payments, plus tiered royalties on global net sales. The therapeutic target and modality were not disclosed. OmniAb also raised its 2026 cash outlook to $49 million to $53 million from $37 million to $41 million, citing the impact of the Lilly upfront payment and other recent technology licensing activity. Shares traded at $4.10 in Monday premarket trading, above the stock’s earlier 52-week high of $3.63. The move comes as drugmakers show renewed interest in ion channels, a target class long viewed as difficult for antibody-based development but one that has recently produced marketed therapies.