VICTORIA, BC, Jan. 18, 2018 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the "Company") (TSX VENTURE: IPA)(OTC PINK: IPATF) announces that it has engaged LightPath Capital, Inc. ("LightPath") to act as its financial advisor and placement agent with respect to certain investment banking and related matters.
LightPath is assisting the Company with raising acquisition financing up to $20,000,000 with institutional Accredited Investors in connection with the Company's acquisition strategy. This is a strategic first step in positioning the Company to pursue listing on the NASDAQ within the next year.
LightPath Capital Inc. is a broker dealer duly registered with the Securities and Exchange Commission based in San Francisco and is a member in good standing of the Financial Industry Regulatory Authority. LightPath is a securities broker-dealer that provides several classes of services, including merger and acquisition advisory services, the private placement of securities, placements, and the introduction of institutional investors and investment managers.
"In engaging LightPath based in one of the world's largest biotech hubs, IPA is proceeding with financing of its strategic acquisition activities and engaging strategic partners globally" said Dr. James Kuo, Chairman, Interim President of the Company.
"We are very pleased to have the opportunity to work with ImmunoPrecise on this assignment, and we believe that the company's growth strategy is well-timed and that Immunoprecise provides a significant rollout strategy opportunity in the antibody discovery process space in which humanized antibody technologies will drive higher margins by arbitraging Europe with America's Healthcare sector." said Ron E. Foy, Managing Director of Investment Banking in LightPath's San Francisco office.
About Lightpath Capital
LightPath Capital is an investment banking firm exclusively serving small to medium sized companies in a broad array of industries. Lightpath works with businesses generating $10 million to $100 million in annual sales and lives and breathe this sector of the middle market. LightPath Capital has distinguished itself by providing a level of service and responsiveness to its clients that is unparalleled in the middle market.
About ImmunoPrecise Antibodies Ltd.
The Company is an integrated antibody solutions company that is a single source provider of services across the full antibody discovery value chain (antigen design, hit generation, lead selection, lead optimization and lead characterization). The Company utilizes the full spectrum of antibody production methodologies (library based technologies, hybridoma methods, transgenic animal based platforms and single B cell based technology) with a growing focus on generating human antibodies.
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. 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.
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 two state-of-the-art laboratory facilities in North America and Europe. The Company's facility at the Vancouver Island Technology Park in Victoria, British Columbia houses tissue culture and molecular facilities, an animal care unit, and cryo-preservation facilities. Its facility in Utrecht, The Netherlands offers fast and large-scale production of (mammalian) recombinant proteins and antibodies for research and pre-clinical applications.
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. The Company 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 the Company 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 the Company's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause the Company'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, the Company closing its acquisitions, and such 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 Ltd., 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