ImmunoPrecise Antibodies Ltd (CVE:IPA) (OTCMKTS:IPATF) announced Monday that it has begun a new collaboration to develop a therapeutic candidate to combat an undisclosed immuno-oncology target using the biotech company’s proprietary screening platform.
The new antibody discovery collaboration is with Edmonton-based Entos Pharmaceuticals Inc, which develops nucleic acid-based therapies.
The agreement sees the two companies using ImmunoPrecise’s B cell Select platform to aid in discovering new antibodies to use in cancer immunotherapy. B cell Select is capable of screening millions of cells to identify diverse antibodies.
According to ImmunoPrecise’s CEO Dr Jennifer Bath, the B cell Select platform has a proven track record of discovering large panels of high-affinity antibodies against a broad range of antibody targets, including difficult membrane proteins.
“Our North American B cell laboratory boasts over one decade of experience with a 94% success rate. This is, in part, why we are very confident in these collaborations, and continue to field requests from such reputable groups," Bath said in a statement.
"We are pleased that Entos Pharmaceuticals, a global leader in next generation nucleic acid-based therapies, considers us to be a trusted partner in antibody discovery."
Entos CEO Dr John Lewis said that its team is committed to developing breakthrough medicines to address pressing clinical unmet needs.
"We have been extremely impressed with IPA's B cell Select platform, which provides an ideal approach to develop therapeutic candidates."
Victoria-based ImmunoPrecise also announced that its director Andy Nixon has resigned from the board, citing a conflict of interest. Chair James Kuo said that company wished him “every success” in the future.
The company also said that it will apply to the TSX Venture Exchange to extend the expiry date of 875,000 share purchase warrants issued in a June 18, 2018 private placement. The warrants, exercisable at C$1 per share, are being extended for one year to June 18, 2020 subject to the acceptance of the regulators.
Shares in Toronto added around 3% to C$0.67.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas