Victoria, British Columbia, Canada, November 20, 2017 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces the realignment of its senior management team as Dr. James Kuo, Chair of the Board, assumes the interim position of President of the Company, Robert Beecroft, founder and director assumes the role of CEO to further strategically position the Company together with its European partner, U-Protein Express B.V. to pursue expansion into the European market and growth initiatives globally. Thomas D’Orazio will remain as an IPA director. Dr. Oren Beske will be pursuing other opportunities.
As interim President, Dr. James Kuo (MD, MBA) brings considerable senior leadership and global experience as current Chief Executive Officer of the Finnish biotechnology company FIT Biotech Ltd. (NASDAQ: FITBIO). James Kuo is an experienced biotech industry executive and investor, who brings a wealth of business and management experience to the Company. He has held executive positions in private as well as listed biotech companies in the US. His most recent assignments have been as a CEO with Biomicro Systems, Inc. and Synthetic Biologics, Inc. (NYSE:SYN). Prior to that, he was CEO of Discovery Laboratories, Inc. (NASDAQ:DSCO) after having worked as Associate Director in corporate licensing and development at Pfizer Inc. (NYSE:PFE). James Kuo is presently Chairman of the Board at Athena Bioventures in La Jolla, CA.
Dr. James Kuo stated, “ImmunoPrecise has assembled an excellent team to work together and this alignment from within demonstrates the Company’s ideals of strong management as we focus on growth in the coming quarters. Dr. Kuo continued, “As we continue to build a strong presence in the human monoclonal antibody segment and grow our intellectual property through strategic acquisitions and partnerships, our shareholders can look forward to a steady pace of activity and regular communications.”
Mr. Beecroft was the President, former CEO and founder of ImmunoPrecise prior to December 2016 and has over 25 years’ experience in the development of innovative and proprietary methods for the production of monoclonal and polyclonal antibodies and peptides. Mr. Beecroft has a B.Sc in Microbiology from University of Victoria and has been involved in over 15 Research Projects over the course of the last 25 years and been an instructor for graduate students at the University of Victoria on the use and production of monoclonal antibodies for over 13 years. In 2015, Mr. Beecroft was the recipient of the UVic Distinguished Alumni Award for the Faculty of Science, in recognition for being the Founder of ImmunoPrecise Antibodies Ltd.
About ImmunoPrecise Antibodies Ltd.
The Company provides custom antibody development and production services and protein expression to support research and development programs at leading pharmaceutical and biotechnology companies, as well as academic research laboratories. 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, biologics and therapeutics.
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 and in association with U-Protein Express B.V. its subsidiary laboratory operation in Life Science Incubator, Utrecht Science Park, Utrecht, the Netherlands.
The services offered to customers include the development of mouse and rat monoclonal and recombinant rabbit 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.
The Company employs a highly experienced group of R&D scientists. Over the last 25 years, investments in innovative and proprietary technologies and methods have vastly improved the speed and efficiency of monoclonal and polyclonal antibody production.
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: 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.