ImmunoPrecise Antibodies Ltd (CVE:IPA) (OTCMKTS:IPATF) told investors Thursday it has set up a wholly-owned subsidiary Talem Therapeutics, which will also focus on the discovery of therapeutic antibodies.
Talem, based in Cambridge, Massachusetts, will work on a pipeline of drug candidates that target multiple areas, including neurology, immuno-oncology, gastroenterology, inflammation and rare diseases.
The subsidiary’s strategy will be to develop next-generation monoclonal therapeutic antibodies through the pre-clinical stage prior to their licensing for clinical partners. Along with this pre-clinical work, Talem is already negotiating joint research and development programs with a number of pharmaceutical companies.
Like its new subsidiary, ImmunoPrecise, which just kicked off trading Thursday on the OTCQB Venture market, also provides global antibody services ranging from target analysis to pre-clinical studies.
The Victoria, British Columbia-based company’s attention is fixed on discovering and delivering the most relevant next-generation antibodies, with the highest probability of succeeding through clinical validation.
It recently opened a new office in Cambridge, Massachusetts that will be staffed at first for sales and business development and will take advantage of the Cambridge area’s focus on biotech and pharmaceuticals.
ImmunoPrecise shares closed at US$0.58 in New York on Wednesday.
Contact Ellen Kelleher at [email protected]