VICTORIA, June 5, 2017 /CNW/ - IMMUNOPRECISE ANTIBODIES (the "Company")(TSX VENTURE: IPA)(OTC PINK: IPATF), is pleased to announce the opening of its new 3,200 square foot state of the art antibody production laboratory at Vancouver Island Technology Park that has been designed in conjunction with Low Hammond Rowe Architects. The addition of this new laboratory:
- More than doubles the Company's lab footprint;
- Allows for 3X the capacity for hybridoma projects;
- Architectural and engineering features that enhance workflow and cleanliness;
- Houses new equipment [High-throughput FACS] to expand services; and
- Allows for Vivarium expansion up to 10X the capacity for hybridoma projects.
Tom D'Orazio, CEO of ImmunoPrecise, stated, "The opening of new laboratory facilities provides the infrastructure for the implementation of our strategic growth initiatives of increasing capacity and expansion of our core business. Perhaps more importantly for our shareholders, since increasing sales is tied to our capacity, the additional capacity of this world class facility allows us to handle more projects which we expect to drive revenues."
"We have experienced steady growth in our hybridoma business driven by our Rapid Prime service for developing monoclonal antibodies," said Teri Otto, Director of Laboratory Services for ImmunoPrecise. "The new lab gives us the space to support this growth for the foreseeable future. It also gives us the ability to improve efficiency, acquire additional equipment and better allow us to offer additional services such as humanizing antibodies."
About ImmunoPrecise Antibodies
ImmunoPrecise Antibodies provides its customers with custom antibody engineering and production services to support their research and development efforts.
Antibodies are naturally occurring proteins capable of binding to specific target molecules, or antigens. They have been used very widely in research assays, diagnostics, purification and therapeutics. The target market for the Company's antibody and peptide products includes organizations in the academic, biological, diagnostic and pharmaceutical fields. This is a large growing market that is expected to double in the next ten years.
The Company operates from state of the art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia which house its tissue culture and molecular facilities as well as an animal care unit, and is a member of the Canadian Council for Animal Care.
The services offered to customers include the development of mouse and rat monoclonal and rabbit recombinant monoclonal antibodies against a wide spectrum of antigens, as well as polyclonal antibodies, immunologically based assays, and solutions to challenges faced by clients in antibody related research and development. The Company's proprietary RMAT (recombinant monoclonal antibody technology) screens the immune repertoire of a rabbit creating the power to select the desired monoclonal antibody directly from rabbit B cells, and results in antibodies having much greater affinity than is possible by other methods. In addition, ImmunoPrecise develops custom designed, high quality monoclonal antibodies in a compressed time frame using its proprietary Rapid Prime methodology. The Company has successfully delivered over one-thousand monoclonal antibody projects using Rapid Prime since its inception. Cryopreservation services are also provided for the storage of valuable biological materials including hybridoma clones, plasmid constructs, and cell lines. The antibodies produced by the Company target a wide variety of environmental, diagnostic and research applications.
The Company employs an experienced group of R&D scientists, and over the last 25 years its investments in research have led to the creation of innovative and proprietary technologies and methods that significantly improve the speed and efficiency of monoclonal antibody production.
Forward Looking Information
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. ImmunoPrecise uses words such as "may", "would", "could", "will", "likely", "expect", "believe", "intend" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by ImmunoPrecise in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to ImmunoPrecise's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause ImmunoPrecise's actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: risks and uncertainties described in the Company's Filing Statement dated December 13, 2016 which can be accessed at www.sedar.com. The "forward-looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE ImmunoPrecise Antibodies Ltd.
For further information: please contact: ImmunoPrecise Antibodies Inc., Phone: 1-250-483-0803, 3204-4464 Markham Street. Victoria, BC V8Z 7X8, www.immunoprecise.com; For investor relations please contact: Rob Gamley, Phone: 1-604-689-7422, Email: email@example.com, Contact Financial Corp., 1450 - 701 West Georgia St. Vancouver, BC V7Y 1G5