VICTORIA, April 11, 2017 /CNW/ - IMMUNOPRECISE ANTIBODIES (the "Company")(TSX VENTURE: IPA)(OTC PINK: IPATF), is pleased to announce the launch of a new research initiative.
As part of its Research and Development Program, the Company has begun working on a project in collaboration with an established biotech company that is developing human therapeutics. ImmunoPrecise Antibodies is applying its RapidPrime™ protocol to the humanization of monoclonal antibodies in mice and rats. ImmunoPrecise's proprietary RapidPrime™ Method identifies positive monoclonal antibodies in as little as 32 days.
"We are moving forward on developing protocols that will allow us to partially humanize monoclonal antibodies. Humanization is one of the areas we identified as key to our near- and long-term success," said Tom D'Orazio, CEO of ImmunoPrecise. "This project marks the beginning of ImmunoPrecise's efforts to enter this important space which is one of the fastest growing areas in the multi-billion dollar development of successful therapies. Projects such as this one will allow us to introduce high-value, highly differentiated services and position the Company to support clients with their human therapeutic antibody discovery and development efforts."
Humanizing antibodies is a key step in developing monoclonal antibodies for human therapeutic use. Over 50% of all new drug therapies in development are antibody based. Leading pharmaceutical companies including Genentech, Bayer AG, Pfizer Inc., Sanofi, F.Hoffman-La Roche, Merck, GlaxoSmithKline, NovartisAG and Abbvie and others have developed or are developing antibody based drug therapies including several of the top selling drugs in history. Transparency Market Research recently released a market study reporting that the monoclonal antibody therapeutic market will be worth $245 billion by 2024 up from $86.7 billion in 2015, representing a CAGR of 13.5%. Monoclonal antibodies are engineered to attach to specific proteins called antigens. They can work in a variety ways such as triggering an immune response, disrupting essential cell signaling, or used as conjugates that carry drugs directly to the diseased cells. Monoclonal antibodies have become a major source of blockbuster drugs. Examples include Humira (world's top selling pharmaceutical product used for pain relief, $13 billion in 2014 global sales) and Avastin (an antibody based cancer drug that sold over $7.3 Billion in 2015).
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 recombinant monoclonal antibody technology (RMAT) 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, cryopreservation services are 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: 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 protected], Contact Financial Corp., 1450 - 701 West Georgia St., Vancouver, BC V7Y 1G5