Shares in ImmunoPrecise Antibodies Ltd (CVE:IPA) (OTCMKTS:IPATF) were higher on Tuesday as the group said it had launched a "powerful and unique" platform for therapeutic antibody discovery with a US pharma firm.
It expands the group's offerings and the technology allows the selection of rare, fully human antibodies using what's called DeepDisplay, which is a combination of transgenic animal immunization and custom antibody selections, the company said.
"The ability to select needle-in-the-haystack antibodies using this powerful combination of OmniAb rodent (mouse or rat) immunization and phage display antibody selections provide an entirely new avenue in therapeutic antibody discovery," said Debby Kruijsen, the general manager of the firm's ModiQuest Research subsidiary.
CEO of ImmunoPrecise Jennifer Bath added: "With over 15 years of experience in customized and precision-based phage display, IPA has coupled this powerful technology with Ligand's OmniAb transgenic rodent platforms to enable the accelerated discovery of highly diverse, fully human antibodies with superior clinical safety and efficacy and the lowest immunogenicity."
The company added that data generated during the large pharma and OmniAb collaboration will be publicly presented at conferences in Munich and Boston in March and May respectively as well as via live webinar.
Last week, the antibody discovery firm told investors it had increased revenue and gross margins in the third quarter, as it continues to grow the core business.
Global antibody services
The British Columbia-headquartered company provides global antibody services ranging from target analysis to pre-clinical studies.
The group's acquisitions of Netherlands-based U-Protein and ModiQuest had helped boost revenue in the quarter to end-January to around $2.69 million, it said, compared to the same period in 2018.
Gross margin rose 58% to around $1.57 million from $989,203 in 2018, it added, mainly due to the group focusing on higher margin projects at its new B-cell lab in Victoria, British Columbia and further operational efficiencies put into its operations.
Shares in Toronto added around 4% on Monday at $0.75.
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