OmniAb, Inc. (NASDAQ:OABI) Q3 2023 Earnings Call Transcript

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And with that, we view that this increases the efficiency and the probability of success for our partners to bring them a lot of different options to potentially go to the clinic. Now let’s talk about our platform. What makes us different? So we have multiple technologies that make us unique. I’ll go through them at a high level. So first, on the first column, we have our chicken. So our chickens consist of three different technologies, our OmniChicken, which is a chicken that makes fully human antibodies that are standard-sized antibodies. Then we have a chicken called OmniClic that makes human antibodies that have a fixed life chain. So that’s useful in making bispecifics. Then we have OmnidAb, which I won’t speak too much right now because that’s what Bill is going to be speaking about in just a few minutes.

But why is the chicken important? Really, it’s an evolutionary display. Our last common ancestor with a rodent was call it, 90 million years ago. But with the chicken, it was closer to 300 million years ago. So a chicken is that much more different from a human and therefore that much more likely to identify an antigen or a targeted non-cell. So what that allows is our partners can use these chickens to identify antibodies that have a broad range of epitope coverage, a wide range of targets. Next, we have our rats. We have two technologies with our rats. We have our OmniRat, which is full standard antibodies and then we have OmniFlic, which is big slide chain antibody, again, useful for bispecifics. So why would you use a rat? Well, a rat looks similar to a mouse, but it actually is different.

And so it can react to an antigen in a different way than a mouse can. So you can get a different response. But it has a similar ease of use as a mouse. Also a rat is bigger, so you can get higher B-cell quantity, which can potentially lead to broader diversity. Our OmniRat was our first technology that was put into operation, and we have multiple approved antibodies from the OmniRat, both in the U.S. and European Union and in Asia. Next, we have our cow technology. So OmniTaur makes antibodies that have these unique characteristics. They have these ultra-long CDRs that stick out from the variable region of an antibody and look almost like a finger that can reach out and access recessed epitopes, such as interior of ion channels or different parts of GPCRs that are normally not accessible to a standard full-length IgG antibody.

So really, the OmniTaur antibody opens up a potential broad new class of potential targets on the discovery side. Also, these ultra-long CDRs can be cleavable into a very small fully functioning protein that’s about a third of the size of a nanobody. We call it a picobody and they’re used in a lot of different functions. Finally, we have our exploration technology. This is a high-throughput B-cell screening platform, which is a large — has a large amount of throughput, over 1.5 million B-cells at a time it can screen. It also uses integrated artificial intelligence and sequencing to maximize repertoire mining. So these technologies not only are they driving new partners to us, but they’re keeping partners within our ecosystem as they continue to use the innovation that we have to find new antibodies.

This is a quick breakdown of how our partners are using the different technologies. As you can see, OmniRat is leading the pack at the moment. That’s largely based on the fact that it was put into operation prior to all the other technologies. But as you can also see, the other technologies are becoming a bigger presence, and we’re moving to be more and more diverse from our technology usage standpoint. As far as potential uses for our OmniAb antibodies, they’re useful for anything that could be used — that an antibody could be used for. So this is the breakdown of what our partners are doing. So a lot of monospecific antibodies on their own. But also multi-specific, think bispecifics or more, trispecifics. But we also have antibody drug conjugates in our pipeline.

So there’s a wide range. But also, they’re still useful for other technologies, CAR-T, TCR mimetics, things like that. Our antibodies can be useful in a wide range application. Bill is going to talk today about OmnidAb, and that really opens up a — that just in a way, it blows the roof off of other potential formats that can be used with our technology. So the last slide, just before Bill talks about OmnidAb, I’ll just talk about why is it an important tool, why is it important to our partners? Well, our partners are interested because — these are quotes from our partners. They can generate a panel of multiple multi-specific antibodies using tethered single-domain antibodies. They can also rapidly generate high-affinity human sequence from the OmnidAb. These molecules can be used to penetrate deeply into solid tumors.

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