logo-loader

ImmunoPrecise boosts screening capability with lab equipment purchase

Last updated: 01:55 06 Feb 2019 AEDT, First published: 01:34 06 Feb 2019 AEDT

An illustration of antibodies
The equipment upgrade advances ImmunoPrecise's strategic vision, according to the company

ImmunoPrecise Antibodies Ltd (OTCMKTS:IPATF) (CVE:IPA) said Tuesday that it has acquired additional integrated laboratory equipment for high-throughput antibody screening.

The Victoria, British Columbia, biotech company said in a statement that its purchase of a second Intellicyt iQue Screener PLUS allows its scientists to reduce lead discovery time while conserving samples and reducing reagent cost.

READ: Immunoprecise Antibodies reports 2Q revenue doubled on increased capacity, European expansion

Other antibody screeners, according to the company, report on binding one target at a time, which makes the discovery process time-consuming and can require large amounts of target protein.

"The decision to acquire a second Intellicyt iQue will further support IPA's strategic vision of continued growth and expansion in providing end-to-end therapeutic antibody discovery services to a rapidly expanding list of pharma and biotech clients," said CEO Jennifer Bath in a statement.

The company operates globally to offer antibody services from target analysis to pre-clinical studies. It works out of labs in Victoria as well as in Utrecht and Oss in the Netherlands.

Shares traded at C$0.68 in Monday’s Canadian trading. They were down US$0.04 to US$0.51 on the OTC Markets.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com