Category: Corporate Update

Immunoprecise Antibodies Delivers Record Quarterly Revenue of $1.723 Million and Increases Gross Margins To 54%

Immunoprecise Antibodies Delivers Record Quarterly Revenue of $1.723 Million and Increases Gross Margins To 54%

Canada NewsWire

VICTORIAMarch 28, 2018 /CNW/ – IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX Venture: IPA, OTC PINK: IPATF) today reports its financial results for the third quarter ended January 31, 2018.  The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at

During the three months ended January 31, 2018 the Company achieved record quarterly revenue of $1,723,308 compared to $510,835 in 2017. This represents a 237% increase in revenue and stems from the acquisition of U-Protein Express B.V. (“U-Protein”) and the Company’s ability to grow its capacity in its core business and expand its market share to Europe.  Additionally, the Company’s gross margin percentage has increased to 54% from 24% in 2017 as a result of integration and efficiency investments and shifting our services towards toward higher margin offerings such as RMAT (Recombinant Monoclonal Antibody Technology) and humanized antibody production.

The Company recorded a net loss of $1,211,591 during the three months ended January 31, 2018, compared to $4,437,261in 2017.  The net loss in 2017 was mostly due to a listing expense of $3,847,160 related to the completion of the reverse takeover transaction.  This was a one-time, non-cash expense.  The Company’s net loss in 2018 is mostly attributed to one-time costs for items such as systems development, business development and operational efficiencies.  Additionally, the Company incurred non-recurring M&A costs in connection with its acquisitions and investments.

“The Company has had significant increases in organic growth with a healthy pipeline of recurring and new, therapeutic antibody clients, and we also anticipate that, similar to UPE, near-term acquisition activity will be immediately accretive, with a positive impact on the group of companies’ revenues and earnings,” commented Jennifer Bath, CEO of the Company. “We predict the positive revenue trajectory will continue.”

The Company’s continued focus is to aggressively expand its share of the antibody therapeutics market by becoming a leading, integrated antibody solutions company addressing all aspects of the therapeutic antibody discovery value chain through the application of conventional, novel, and advanced technologies.  We have begun strategic investments and acquisitions to obtain the most comprehensive offering and to corner the market in the most promising of these technologies.

The U-Protein acquisition added a state-of-the-art laboratory, licenses, intellectual property, and strong customer relationships in Europe. U-Protein continues to grow its revenues and serves as an accretive investment.

On March 16, 2018, the Company announced that it has entered into the definitive share purchase agreement to acquire all of the issued and outstanding shares of ModiQuest Research B.V. (“Modiquest”) (see news release dated March 16, 2018). The Company anticipates that the transaction will be closed within a few days.

The Company continues to realize on the Board’s commitment to grow globally through strategic acquisition.  To date, the Company announced entering into Letters of Intent to acquire or strategically invest in Crossbeta Biosciences B.V., Preclinics GmbH, and Single Cell Technology Inc. which are still currently in discussion and due diligence.

About ImmunoPrecise Antibodies Ltd.

Immunoprecise is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials.

The Company operates from state of the art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia which house its tissue culture and molecular facilities as well as an animal care unit, and is a member of the Canadian Council for Animal Care and in association with U-Protein Express B.V. its subsidiary laboratory operation in Life Science Incubator, Utrecht Science Park, Utrecht, the Netherlands.

The services offered to customers include the development of wild-type and humanized mouse and rat monoclonal antibodies and recombinant rabbit monoclonal antibodies against a wide spectrum of antigens, as well as polyclonal antibodies, immunologically-based assays, recombinant protein manufacturing, and advanced solutions to challenges faced by clients in antibody-related research and development.  In addition, cryopreservation services are provided for the storage of valuable biological materials including hybridoma clones, plasmid constructs, and cell lines. The antibodies produced by the Company target a wide variety of therapeutic, diagnostic and research applications.

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. The Company uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to the Company’s expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things, the Company closing its acquisitions, and such risks and uncertainties described in the Company’s management discussion and analysis for the period ended January 31, 2018 which can be accessed at The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE ImmunoPrecise Antibodies Ltd.

Brisio Innovations Announces Private Placement

Brisio Innovations Announces Private Placement

Vancouver, British Columbia–(Newsfile Corp. – March 27, 2018) – Brisio Innovations Inc. (CSE: BZI), (the “Company“) announces that it intends to complete a non-brokered private placement financing (the “Financing“) of a minimum of 18,571,428 shares (each, a “Share“) at a price of $0.35 per Share for gross proceeds of a minimum of $6,500,000 (the “Financing“).

The Company may pay finders a fee in cash and/or share purchase warrants in connection with the Financing.

The proceeds of the Financing will be used for the Company’s acquisition of NameSilo LLC and working capital purposes.

On behalf of the Board

Paul Andreola
President, CEO and Director
Phone: (604) 644-0072

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the proposed Financing are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Financing and the use of proceeds thereof. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

ImmunoPrecise Appoints New President and CEO

Victoria, British Columbia, Canada, February 8, 2018 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces the appointment of Dr. Jennifer Bath, as the new President and CEO of the Company effective February 21, 2018.
Most recently, Dr. Jennifer Bath served in an executive role at Aldevron, LLC, as the Global Director of Client Relations, where she held both strategic and technical roles. She headed the global sales and client relations teams, and defined business strategies by applying knowledge based on science, technology and the market. In addition, she served as a key technical specialist, particularly for therapeutic antibody discovery, and was responsible for growth and retention of the company’s client base.

Dr. Bath served in many industry leadership roles, contributed to the Economic Development Corporation’s Strategic Planning Initiatives, advised biotechnology and pharmaceutical companies on strategic and operational business practices, and facilitated workshops in technology entrepreneurship. She has strong relationships with leaders in the fields of therapeutics and vaccinology and has fostered many collaborative developments and partnerships in discovery.

Dr. Jennifer Bath holds a Ph.D. in Cellular and Molecular biology from North Dakota State University, and a Bachelor’s degree in Biology with an emphasis on human genetics from the University of Kansas. She began her career in academia and moved into industry after serving for 15 years as Associate Professor of Cellular and Molecular Biology at Concordia College, Moorhead, Minnesota. She was the Founder and Executive Director of the Concordia College Global Vaccine Institute, the mission of which is to prevent and treat neglected tropical diseases. Dr. Bath has broad experience in vaccine and therapeutic design, development and testing. 

“Dr. Jennifer Bath’s appointment as the President and CEO of IPA adds significant senior leadership and scientific depth to the Company’s leadership team. Her experience with leading global sales efforts in the rapidly growing therapeutic antibody discovery market, combined with her scientific acumen and client relations focus, will contribute a great deal to IPA’s growth and development. Dr. Bath will provide valued leadership to our commercial and scientific teams as we fully realize our plans to become the leading integrated global antibody solutions company,” said Dr. James Kuo, Chairman of the Company.
In connection with Dr. Jennifer Bath’s appointment, the Company granted Dr. Jennifer Bath a total of 700,000 stock options. The stock options are exercisable at a price of $0.47 per share, subject to certain vesting requirements and expire five years from the date of grant.

“I am very excited about the future of ImmunoPrecise, as well as working with the management and investment partners to continue building a leading, global, full-service antibody discovery organization,” said Dr. Jennifer Bath.

“ImmunoPrecise’s growing advantage in antibody discovery and development is based on its state-of-the-art technologies and proven capabilities, as well as its growing portfolio of competencies for addressing the full-value chain for high-throughput, therapeutic antibody discovery, screening and testing. I look forward to working with Immunoprecise’s talented employees, and the company’s partners, in creating long-term value and revolutionizing antibody discovery through rapid and efficient technological advances.”

Brisio Innovations Arranges Private Placement

Mr. Paul Andreola reports


Brisio Innovations Inc. intends to complete a non-brokered private placement financing of a minimum of 2.5 million units and up to a maximum of five million units at a price of 20 cents per unit for gross proceeds of a minimum of $500,000 and up to a maximum of $1-million.

Each unit will consist of one common share of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share at a price of 30 cents per share for a period of two years from closing of the financing. In the event that the average closing price is equal to or greater than 45 cents per share for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants to a date that is 30 days after the notice of completion of such period.

The proceeds of the financing will be used for general working capital.

The company also announces that it has granted 75,000 stock options to an officer of the company. The options will be exercisable at 23 cents per share and expire on Dec. 29, 2022.

We seek Safe Harbor.

Immunoprecise to Strategically Invest in Serpinx B.V.

Victoria, British Columbia, Canada, December 29, 2017 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces that it has signed a binding letter of intent with SERPINx B.V. (“SERPINx“) to strategically invest in the development of recombinant protease inhibitors to treat bradykinin mediated diseases (the “Investment”).
The Investment continues to realize on the Board’s commitment to grow globally through strategic acquisitions and partnerships.

It allows IPA to participate in the building of SERPIN-based protein therapeutics for inflammatory-associated diseases, and furthers IPA’s ambition of becoming a single source provider of services across the full antibody and protein target discovery value chain (antigen design, hit generation, lead selection, lead optimization and lead characterization) and offering the full spectrum of antibody and protein production methodologies (library based technologies, hybridoma methods, transgenic animal based platforms, protein expression platforms and single B cell based technology).

Furthermore, the acquisition enhances the Company’s source of and capacity for developing novel protease inhibitor therapeutics.

“In investing in SERPINx B.V., IPA becomes a leading integrated antibody and protein target solutions company with high value potential therapeutic assets” said Dr. James Kuo, Chairman, Interim President of the Company.
SERPINx BV is a Dutch protein therapeutics company involved in developing novel serine protease inhibitor (SERPIN) therapeutics for inflammatory-associated diseases, in particular angioedema. SERPINS are a superfamily of proteins with similar structures that were identified for their protease inhibition activity .  SERPINx BV has a proprietary collection of novel modified variants of α1-antitrypsins in preclinical development that can be applied for the treatment of bradykinin-mediated diseases that address the major shortcomings of C1Inhibitor (patent applications filed).  
The Investment adds important intellectual property and technology to the Company’s product, service and technology estate.

Terms of Investment with SERPINx
Under the binding letter of intent, IPA will invest  €250,000 for 35% of the capital stock in SERPINx to assist in the development of novel serine protease inhibitor (serpin) for the treatment of bradykinin-mediated diseases in the accordance with the terms of a shareholder agreement satisfactory to the parties (the “Definitive Agreement”) with the right of first option for IPA to acquire the remaining outstanding and issued shares of SERPINx prior to any other third party or prior to any additional funding with any other third party.
The letter of intent also sets forth SERPINx’s commitment to undertake and fund animal trials for its proprietary lead compounds at IPA’s Victoria facilities.
The parties will be entitled to carry out due diligence of each other until January 15, 2018.  Upon the parties completing due diligence to their reasonable satisfaction, the parties will enter into the Shareholder Agreement setting forth the terms and conditions of the Investment by January, 2018.  Completion of any Investment with SERPINx is subject to a number of conditions, including but not limited to, completion of due diligence, negotiation of Shareholder Agreement in respect of such a Investment, the availability of financing on terms acceptable to the Company, and receipt of any required regulatory and shareholder approvals. The Investment cannot be completed until these conditions are satisfied, and there can be no assurance that an Investment will be completed at all.

Immunoprecise Adds Scientific Depth To Its Board of Directors

Victoria, British Columbia, Canada, December 19, 2017 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company”) (TSX VENTURE: IPA)(OTC PINK: IPATF) is pleased to announce the appointment of Dr. Robert Burke to the Company’s Board of Directors. 
Dr. Robert D. Burke is an Emeritus Professor at the University of Victoria, where he was a faculty member for over 35 years. He has a longstanding research interest in the molecular basis of cellular signaling in early embryonic development.  His research involves production and characterization of antibodies and he employs them extensively with high-resolution optical imaging methods. Dr. Burke has published over 100 peer-reviewed publications and has supervised numerous trainees.  He was Chair of the Department of Biochemistry and Microbiology for 8 years, was on the University of Victoria Senate for 12 years, and served on numerous advisory and management committees nationally and internationally. Dr. Burke completed a BSc (Honours) and a PhD at the University of Alberta.

Dr. Burke fills the vacancy left by the departure of Thomas D’Orazio as director and brings significant scientific depth and experience in the production and characterization of antibodies and will assist the Board in assessing the scientific efficacy of its strategic acquisitions globally.

“With the appointment of Dr. Robert Burke to the Board of Directors, IPA continues its history of bringing leading scientific capability to assist the Company to become a leading integrated antibody solutions company with global reach” said Dr. James Kuo, Chairman, Interim President of the Company.

Brisio Innovations Announces Resignation and Appointment of Directors

VANCOUVER, BRITISH COLUMBIA / TheNewswire / December 4, 2017 — Brisio Innovations Inc. (CSE: BZI) (PINKSHEETS: NTCEF) (the “Company”) announces that Steven Vestergaard has resigned from the Board of Directors, and Mr. Kristaps Ronka was appointed to the Board of Directors effective December 1.

Kristaps Ronka is an entrepreneur, investor and advisor. Kristaps co-founded AdParlor in 2007, a Toronto-based bootstrapped company that in 4 years become the leader in handling large Facebook Ad campaigns reaching a $100 million run rate. In 2011, Kristaps was named in Inc.’s “Top 30 under 30” most promising young entrepreneurs for disrupting the industry with a visionary approach. AdParlor was acquired in 2011.

Kristaps has since focused on advising and backing start-up companies that are solving important problems and building disruptive technologies from transportation to medicine. His extensive knowledge of business management, new technologies and his network of established contacts will be a valued contribution to the Brisio management team.

Paul Andreola, Brisio CEO states “We welcome Kristaps to the Brisio team. With significant recent developments in applied science such as artificial intelligence and blockchain his extensive knowledge of new and innovative technologies will be put to good use as we continue to evaluate a variety of new investment opportunities.”

Brisio wishes to thank Mr. Vestergaard for his contribution to the Company and wishes him the very best in his future endeavours.

Brisio Innovations Inc.
Paul Andreola

President, CEO and Director
(604) 644-0072

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