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Immunoprecise Antibodies shares advance as it launches new facility ahead of schedule due to demand

The firm's current B-cell laboratory in British Columbia is operating at full capacity..

ImmunoPrecise develops antibodies to support research and development programmes

Shares in Immunoprecise Antibodies Ltd (CVE:IPA) advanced nearly 5% in Toronto after it revealed it was increasing capacity and reach, by launching its new cell facility in the Netherlands ahead of schedule due to demand.

The firm's current B-cell laboratory in British Columbia is operating at full capacity and booked out several months, it said, so the facility in the EU will speed up international growth, the company said.

READ: Immunoprecise Antibodies announces closure of C$700,000 private placement

The facilities allow for B-cell (a type of white blood cell) screening, sorting and sequencing on a broad range of therapeutically relevant protein families.

Put simply, the company's technology greatly increases the speed and depth of antibody discovery.

"The pharmaceutical industry has increasingly identified its need to outsource antibody discovery to a single source provider who has the expertise and cutting-edge technologies for high-throughput discovery with an increased probability of identifying therapeutically relevant antibodies," said Jennifer L. Bath, president and chief executive at Immunoprecise.

"Leveraging IPA's global scale, we are able to massively accelerate the company's vision of bringing a single, unified contract research organization (CRO) to pharmaceutical and biotech companies internationally.

"Immunoprecise's infrastructure for comprehensive antibody discovery services and global reach enables us to help ensure customer success no matter where they are located in the world."

Shares gained 4.76% to C$1.10.

Quick facts: ImmunoPrecise Antibodies Ltd

Price: 0.63 CAD

Market: TSX-V
Market Cap: $42.84 m

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