Victoria, British Columbia, Canada, February 8, 2018 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces the appointment of Dr. Jennifer Bath, as the new President and CEO of the Company effective February 21, 2018.
Most recently, Dr. Jennifer Bath served in an executive role at Aldevron, LLC, as the Global Director of Client Relations, where she held both strategic and technical roles. She headed the global sales and client relations teams, and defined business strategies by applying knowledge based on science, technology and the market. In addition, she served as a key technical specialist, particularly for therapeutic antibody discovery, and was responsible for growth and retention of the company’s client base.
Dr. Bath served in many industry leadership roles, contributed to the Economic Development Corporation’s Strategic Planning Initiatives, advised biotechnology and pharmaceutical companies on strategic and operational business practices, and facilitated workshops in technology entrepreneurship. She has strong relationships with leaders in the fields of therapeutics and vaccinology and has fostered many collaborative developments and partnerships in discovery.
Dr. Jennifer Bath holds a Ph.D. in Cellular and Molecular biology from North Dakota State University, and a Bachelor’s degree in Biology with an emphasis on human genetics from the University of Kansas. She began her career in academia and moved into industry after serving for 15 years as Associate Professor of Cellular and Molecular Biology at Concordia College, Moorhead, Minnesota. She was the Founder and Executive Director of the Concordia College Global Vaccine Institute, the mission of which is to prevent and treat neglected tropical diseases. Dr. Bath has broad experience in vaccine and therapeutic design, development and testing.
“Dr. Jennifer Bath’s appointment as the President and CEO of IPA adds significant senior leadership and scientific depth to the Company’s leadership team. Her experience with leading global sales efforts in the rapidly growing therapeutic antibody discovery market, combined with her scientific acumen and client relations focus, will contribute a great deal to IPA’s growth and development. Dr. Bath will provide valued leadership to our commercial and scientific teams as we fully realize our plans to become the leading integrated global antibody solutions company,” said Dr. James Kuo, Chairman of the Company.
In connection with Dr. Jennifer Bath’s appointment, the Company granted Dr. Jennifer Bath a total of 700,000 stock options. The stock options are exercisable at a price of $0.47 per share, subject to certain vesting requirements and expire five years from the date of grant.
“I am very excited about the future of ImmunoPrecise, as well as working with the management and investment partners to continue building a leading, global, full-service antibody discovery organization,”
“I am very excited about the future of ImmunoPrecise, as well as working with the management and investment partners to continue building a leading, global, full-service antibody discovery organization,” said Dr. Jennifer Bath.
“ImmunoPrecise’s growing advantage in antibody discovery and development is based on its state-of-the-art technologies and proven capabilities, as well as its growing portfolio of competencies for addressing the full-value chain for high-throughput, therapeutic antibody discovery, screening and testing. I look forward to working with Immunoprecise’s talented employees, and the company’s partners, in creating long-term value and revolutionizing antibody discovery through rapid and efficient technological advances.”
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 technologies) with a growing focus on generating therapeutic 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, therapeutic proteins 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 therapeutic, 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 therapeutics, research assays, diagnostics, and purification. The target market for the Company’s antibody and peptide products includes organizations in the pharmaceutical, diagnostic, academic, and biologic fields. This is a large growing market that is expected to double in the next ten years. The global monoclonal antibodies (mAbs) market is expected to reach a value of USD 138.6 billion by 2024.
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.
For further information please contact:
ImmunoPrecise Antibodies Ltd.
3204-4464 Markham Street.
Victoria, BC V8Z 7X8
For investor relations please contact:
Contact Financial Corp.
1450 – 701 West Georgia St.
Vancouver, BC V7Y 1G5
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, the Company closing its investment in 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.
This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
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.