IMMUNOPRECISE ANTIBODIES LTD - IPA STOCK NEWS

ImmunoPrecise Antibodies (NASDAQ: IPA) announced a collaboration with Xyphos Biosciences to develop antibodies targeting tumor microenvironment (TME) molecules. This agreement will leverage BioStrand’s LENSai Integrated Intelligence Technology, enhancing the discovery process. Astellas has the exclusive option to license any resulting therapeutic candidates. This partnership aims to improve anti-tumor immunity and is poised to innovate cancer therapy strategies by integrating in silico models with clinical development. The collaboration, focusing on optimizing antibody development candidates, highlights the potential to create novel immunotherapies for cancer treatment.

Immunoprecise Antibodies Ltd. (NASDAQ: IPA) announced a significant milestone with the European Patent Office's decision to grant its patent application for the HYFT® Technology, initially filed on February 7, 2020. This technology provides an efficient method for organizing and analyzing biological sequence information, crucial for advancements in cancer research, precision medicine, and drug discovery. The patent aims to enhance the company’s intellectual property position and is expected to yield favorable outcomes in other countries. The HYFT technology underpins BioStrand’s LENSai platform, promising improvements across various applications, including drug immunogenicity and toxicity prediction.

Immunoprecise Antibodies Ltd. (NASDAQ: IPA) will present a scientific poster at the 2023 AACR Annual Meeting in Orlando, Florida, from April 14 to 19, 2023. This presentation will focus on their bispecific T-cell engagers targeting Tropomyosin Receptor Kinase B (TrkB), which is linked to several cancers with poor prognoses, including lung, breast, and pancreatic cancers. Their therapeutic aims to engage T cells specifically with TrkB-expressing tumor cells, which could improve treatment efficacy and reduce side effects. A provisional patent application for this innovative approach has been filed.

ImmunoPrecise Antibodies Ltd. (IPA) reported third quarter fiscal 2023 results, revealing a 7.4% increase in revenue to $5.2 million, driven by a 16.7% rise in project revenue fueled by its B cell Select® platform and protein manufacturing services. Gross profit rose by 14.6% to $3.0 million. However, IPA's cash reserves decreased from $30 million to $11.4 million year-over-year due to ongoing investments. The company also reported delays in its PolyTope anti-COVID program, prompting a reduction in further investments. IPA is executing strategic AI collaborations aimed at enhancing drug discovery.

Immunoprecise Antibodies Ltd. (NASDAQ: IPA) announced a collaboration between its subsidiary Talem Therapeutics and Libera Bio to target intracellular mechanisms involved in cancer. The partnership will utilize BioStrand's LENSai® technology and Libera's Multifunctional Polymeric Nanocapsules (MPN Technology®) for developing novel therapies. The collaboration has stipulated a minimum of USD 155 million for milestone payments plus commercial royalties per product. This initiative aims to address high-unmet medical needs by targeting previously deemed 'undruggable' cancer targets, enhancing opportunities in oncology treatment.

ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA) will host a quarterly earnings conference call on March 16, 2023, at 10:30 am Eastern Time. The discussion will cover Q3 fiscal year 2023 results and key business highlights. The earnings release will precede the call. Participants can join via toll-free and toll dial-in numbers, with a conference ID of 9236374. The call will be available for future playback on the company's investor relations page. Investors are encouraged to review the company's periodic reports with the Toronto Stock Exchange and the SEC for insights on financial performance and risk factors.

IPA (NASDAQ: IPA) reported a 9.8% increase in revenue for Q2 FY2023, totaling $5.2 million, driven by protein manufacturing and B cell Select® platform advancements. R&D expenses rose to $4.6 million due to costs associated with clinical manufacturing of the PolyTope® therapy. As of October 31, 2022, cash reserves were $15.1 million. Notably, IPA announced a collaboration with BriaCell Therapeutics to develop anti-cancer antibodies and confirmed the PolyTope TATX-03 neutralizing activity against the SARS-CoV-2 variant BA.2.75. However, the company voluntarily delisted from TSX Venture Exchange.