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ImmunoPrecise Antibodies joins global fight against coronavirus

The company is mobilizing forces to address both preventative and therapeutic measures to fight the virus and its associated disease, COVID-19

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Over 74,000 people are diagnosed with coronavirus, which has claimed more than 2,100 lives thus far

Canadian firm ImmunoPrecise Antibodies Ltd (CVE:IPA) (OTCMKTS:IPATF) is joining in the fight against the deadly coronavirus.

The company announced its commitment to developing innovative vaccines against the coronavirus as well as virus-neutralizing antibodies, it said in a release Thursday.

ImmunoPrecise, which is focused on antibody discovery, will address both prophylactic and therapeutic measures to fight the virus and its associated disease, COVID-19, according to a statement.

READ: ImmunoPrecise Antibodies bolsters its capability at European operations with automated DNA printer

The Victoria, British Columbia-based firm said its Rapid Research and Deelopment team is leveraging its “unique ability” to quickly tackle the global pandemic crisis, which has claimed over 2,100 lives so far.

Over 74,000 people around the world are currently diagnosed with the coronavirus strain.

ImmunoPrecise said it has designated Dr Ilse Roodink, the chair of IPA's subsidiary Talem Therapeutic's scientific committee, as the Coronavirus Global Project Leader. Under Roodink’s supervision, the firm is organizing a global response and properly designed campaign.

ImmunoPrecise and Talem will join forces to use the sophisticated infrastructure to significantly contribute to a rapid-yet-sensible response initiated by the design and production of relevant SARS-CoV-2 target antigens, it told investors. The move will facilitate the upcoming identification of prophylactic and therapeutic compounds using ImmunoPrecise’s proprietary discovery platforms, such as B Cell Select and DeepDisplay, and Talem's access to the leading transgenic animal platform OmniAb to generate human antibodies.

READ: Co-Diagnostics shares surge on report of sales of Coronavirus screening test

"We believe that ImmunoPrecise will make an impressive contribution to the global fight against SARS-CoV-2," stated Dr Jennifer Bath, ImmunoPrecise’s CEO.

"With the aid of iterative advancements rapidly compiling from across the globe, including data such as the February 19 release of the prefusion form of the new coronavirus spike glycoprotein, research teams are advancing the collective effort toward the development of efficacious vaccines, therapeutic antibodies, and diagnostics. We grow more determined each day about contributing to this endeavor, as we monitor the rapid, global spread of SARS-CoV-2."

Shares of ImmunoPrecise were halted on Thursday afternoon following the news.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: ImmunoPrecise Antibodies Ltd

Price: 9.6 CAD

TSX-V:IPA
Market: TSX-V
Market Cap: $160.91 m
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