IPA Announces Resignation of Chief Financial Officer

Rhea-AI Summary

ImmunoPrecise Antibodies (NASDAQ: IPA) announced that Chief Financial Officer Kristin Taylor will resign effective January 16, 2025. Taylor will continue serving as CFO until her departure date and will subsequently be available as a consultant. According to CEO Dr. Jennifer Bath, Taylor made notable contributions during her tenure, particularly in enhancing the company's planning and budgeting processes. The company has begun the CFO succession process and will provide updates accordingly.

Positive

• Orderly transition with CFO remaining until January 2025
• Continued access to former CFO's expertise through consulting arrangement
• Improved planning and budgeting processes implemented during tenure

Negative

• Loss of key executive position requiring replacement
• Potential disruption in financial leadership during transition period

AUSTIN, Texas--(BUSINESS WIRE)-- ImmunoPrecise Antibodies Ltd. (IPA) (NASDAQ: IPA) today announced that Kristin Taylor has resigned from her position as Chief Financial Officer effective January 16, 2025. Ms. Taylor will continue to serve in the role of CFO until January 16, 2025, and will remain available to the company on a consulting basis after that time.

“Kristin has been a valued member of our team over this past year," said Dr. Jennifer Bath, IPA's President and Chief Executive Officer. "She has made significant contributions to IPA's success, including the enhancement of IPA's planning and budgeting process. We wish her the very best in her future endeavors."

IPA has initiated a CFO succession process and will provide updates as appropriate.

About ImmunoPrecise Antibodies Ltd.

ImmunoPrecise Antibodies Ltd. is a biotechnology company that leverages multi-omics modeling and complex artificial intelligence through a series of proprietary and patented technologies. The Company owns an integrated end-to-end suite of capabilities to support the development of therapeutic antibodies and are known for solving very complex industry challenges. IPA has several subsidiaries in North America and Europe including entities such as Talem Therapeutics LLC, BioStrand BV, ImmunoPrecise Antibodies (Canada) Ltd. and ImmunoPrecise Antibodies (Europe) B.V. (collectively, the “IPA Family”).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable United States securities laws and Canadian securities laws. Forward-looking statements are often identified by the use of words such as “expects”, “estimates”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases, or state that certain actions, events, or results “may”, “would”, “might”, or “will” be taken, occur, or be achieved. Forward-looking statements include, but are not limited to, the expected results of our search for a successor to the Chief Financial Officer, the results from our financial strategy and growth objectives. Although the Company believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Actual future results may be materially different from what we expect due to factors largely outside our control, including risks and uncertainties related to market and other conditions and the impact of general economic, industry or political conditions in the United States, Canada or internationally. You should also consult our quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results could differ materially from those currently anticipated due to several factors and risks, as discussed in the Company’s Annual Report on Form 20-F, as amended, for the year ended April 30, 2024 (which may be viewed on the Company’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov/edgar). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this release. Accordingly, readers should not place undue reliance on forward-looking statements contained in this release. The forward-looking statements contained in this release are made as of the date of this release and, accordingly, are subject to change after such date. The Company does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

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Investor Relations Contact

investors@ipatherapeutics.com

Source: ImmunoPrecise Antibodies Ltd.

FAQ

When will IPA CFO Kristin Taylor leave the company?

Kristin Taylor will resign from her position as CFO of ImmunoPrecise Antibodies (IPA) effective January 16, 2025.

What role will Kristin Taylor have with IPA after her resignation?

After her resignation, Taylor will remain available to IPA on a consulting basis.

What were Kristin Taylor's main achievements as IPA's CFO?

According to CEO Dr. Jennifer Bath, Taylor's main achievement was enhancing IPA's planning and budgeting process.

Has IPA announced a replacement for CFO Kristin Taylor?

No, IPA has initiated a CFO succession process but has not yet announced a replacement.

How long will Kristin Taylor continue serving as IPA's CFO?

Taylor will continue serving as CFO until January 16, 2025, providing a one-year transition period.