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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

VICTORIA, March 28, 2018

VICTORIA, March 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 www.sedar.com.

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 www.sedar.com. 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.

 

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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
paul@brisio.com
www.brisio.com

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.

https://web.tmxmoney.com/article.php?newsid=6563168031768838&qm_symbol=BZI:CNX

Lite Access Awarded Rural Fibre Optic Deployment Contract from Gigaclear for West Oxfordshire, United Kingdom

Lite Access Awarded Rural Fibre Optic Deployment Contract from Gigaclear for West Oxfordshire, United Kingdom

VANCOUVER, March 23, 2018 /PRNewswire/ — LITE ACCESS TECHNOLOGIES INC. (the “Company”) (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce that Gigaclear plc (“Gigaclear”) has awarded the Company a rural fibre optic deployment contract to bring ultrafast, full fibre broadband to up to 10,000 homes in West Oxfordshire, United Kingdom. The total expected value of this award is upwards of $29,000,000 with completion of the works anticipated by the end of 2019.

 

Carlo Shimoon, CEO of Lite Access, stated, “This is a watershed moment for our Company and validates the premium quality of our work and ramp up in the UK over the past year. Our cutting-edge fibre deployment technologies are ideally suited for this rural environment and we expect to expand our strategic relationship with Gigaclear in support of their growing rural fibre coverage. We could not be more excited about this first, of what we expect will be many, opportunities. We are pleased with the direction the Company is heading, our growth potential, and ensuring that we remain a world leader in this industry to unlock the full fibre future in the UK and elsewhere.”

About Gigaclear

Gigaclear is dedicated to building and operating ultrafast, pure Fibre-to-the-Premises broadband networks in rural Britain. It offers Gigabit services to over 60,000 homes and businesses to date across Berkshire, Buckinghamshire, Cambridgeshire, Essex, Hertfordshire, Gloucestershire, Kent, Leicestershire, Lincolnshire, Northamptonshire, Oxfordshire, Rutland and Worcestershire. Gigaclear builds networks using commercial investment but it has also been awarded contracts in 2017 as part of the Government subsidised BDUK rural broadband programme in Devon, Essex, Gloucestershire, Herefordshire, Northamptonshire, Somerset and Wiltshire. For more information, refer to Gigaclear’s website: https://www.gigaclear.com/

About Lite Access

Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators. Lite Access has successfully deployed or enabled deployment of thousands of kilometres of broadband networks throughout North America and the United Kingdom as well as South America, Africa, Australia and Asia.

As part of its suite of services Lite Access provides clients with integrated solutions or select components for the design and implementation of fibre optic networks.  Lite Access’ products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout the United Kingdom, the USA and Canada as well as global telecommunications companies that have adopted Lite Access as the “solution of choice” for the least invasive, most cost effective and future-proof fibre optic connectivity available.

Lite Access’ installation technology and proprietary products extend a network provider’s ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.

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. Lite Access 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 Lite Access 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 Lite Access’ expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause Lite Access’ 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 projected value of the contract award from Gigaclear, and risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the period ended December 31, 2017 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, Lite Access 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.

Lite Access Technologies Inc.: Carlo Shimoon, CEO, Phone: 1-604-247-4704, Unit 5 – 20678 Duncan Way, Langley, BC V3A 7A3, www.liteaccess.com; For investor relations please contact: Rob Gamley, Phone: 1-604-689-7422, Email: rob@contactfinancial.com, Contact Financial Corp., 810 – 609 Granville St., Vancouver, BC V7Y 1G5

https://web.tmxmoney.com/article.php?newsid=7830569518393770&qm_symbol=LTE

Brisio Innovations to Acquire NameSilo, LLC, Plans to List as a Separate Public Company

Brisio Innovations to Acquire NameSilo, LLC, Plans to List as a Separate Public Company

Vancouver, British Columbia–(Newsfile Corp. – March 7, 2018) – Brisio Innovations Inc. (CSE: BZI) (OTC Pink: NTCEF) (the “Company“) is pleased to announce that it has signed a definitive share purchase agreement (the “Definitive Agreement”) with NameSilo, LLC (“NameSilo”) whereby the Company has agreed to acquire all of the issued and outstanding securities of NameSilo (the “Transaction”).

With a priority of no interruption to existing customers or NameSilo’s growth trajectory, the Transaction will not impact the existing operations of NameSilo and the founders, who are also the owner/operators of NameSilo and who will continue in their current roles and continue operating the business. Further, there are no planned changes to the system infrastructure or operational policies of the business.

NameSilo is a low-cost provider of domain name registration and management services, and is an ICANN-accredited registrar. NameSilo is a high growth registrar with nearly 1.5 million domains under management, and over 85,000 customers from approximately 160 countries. According to RegistrarOwl.com, which provides domain registrar industry statistics from ICANN, NameSilo is the 6th-fastest growing registrar in the world based on percentage growth of new registrations, and 6th-fastest growing registrar in the world when based on net new registrations, behind household names such as Google, GoDaddy and Alibaba.

“We are excited to enter this new phase of the NameSilo journey,” said Michael Goldfarb, founder and Managing Member of NameSilo. “We couldn’t be happier to find a partner with a track record of success like Brisio, and we look forward to working with them to build upon the success of NameSilo. Our customers and partners will continue to receive the same excellent service they are accustomed to and they will enjoy the benefits of access to additional resources that will be made available.”

NameSilo recorded approximately US$11.1 million in annual recurring billings in 2017 up from US$6.9 million in 2016. It has grown its domain names under management from approximately 745,000 domains at the beginning of 2017 to over 1.35 million today, a growth rate of over 65% versus industry averages of approximately 7%. Additionally, NameSilo maintains a customer retention rate of approximately 87%.

Under the terms of the Definitive Agreement, the Company will acquire all of the securities of NameSilo and, in consideration of which, the Company will pay a total of US$9,511,500 (the “Purchase Price”) to the members of NameSilo (the “NameSilo Members”). The closing of the Transaction is anticipated to be July 2, 2018.

Further, NameSilo Members will be entitled to certain earnout payments provided that the business achieves a specified EBITDA. All earnout payments will be made no later than August 15, 2018 and will be payable in cash and shares.

After completion of the Transaction, the Company intends to spin-out NameSilo as a separately listed entity on a Canadian stock exchange. The board of directors of the Company will provide further details on the proposed spin-out on closing of the Transaction.

CEO Paul Andreola states, “We are extremely pleased to have found a world class company that meets our criteria of high growth, profitability, high customer retention and customer satisfaction. We look forward to working with the NameSilo team to continue to build the brand and provide their customers outstanding value and service and to meet their ongoing needs.”

The Transaction is subject to customary conditions contained in the Definitive Agreement as well as approval of the stock exchange, and the Company completing sufficient financing to satisfy the Purchase Price. If the Company is unable to close the transaction, the Company will be required to pay a break fee to NameSilo.

 

 

https://web.tmxmoney.com/article.php?newsid=7189047137354279&qm_symbol=BZI:CNX

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 ANNOUNCES PRIVATE PLACEMENT AND STOCK OPTIONS

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.

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
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 to Acquire Preclinics GmbH

ImmunoPrecise to Acquire Preclinics GmbH

Canada NewsWire

VICTORIA, Dec. 28, 2017

VICTORIA, Dec. 28, 2017 /CNW/ – IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces that it has signed a binding letter of intent with Preclinics GmbH (“Preclinics“) whereby the Company has agreed to acquire all of the issued and outstanding shares of Preclinics (the “Transaction“).

The Transaction continues to realize on the Board’s commitment to grow globally through strategic acquisitions. It contributes significantly to IPA extending its ambition of becoming a single source provider of services across the full antibody discovery value chain (antigen design, hit generation, lead selection, lead optimization and lead characterization) and to offer the full spectrum of antibody production methodologies (library based technologies, hybridoma methods, transgenic animal based platforms and single B cell based technology). Furthermore, the acquisition enhances the Company’s source of and capacity for in vivo and in vitro research and formats.

“In acquiring Preclinics GmbH, IPA continues to build its capacity as a single source provider for the antibody discovery process through pharmacological contract research and research services and capabilities targeted to immunization and production of antisera as well as animal care facilities” said Dr. James Kuo, Chairman, Interim President of the Company.

Preclinics

Preclinics is a privately held company based in Potsdam, Germany which has three separate facilities (Potsdam site; Behring Campus Eystrup and its research farm) which performs in vivo research in rodent models and in vitro research in cell culture and other in vitro formats. Preclinics also offers contract immunization and contract production of antisera, and contract housing and breeding of laboratory animals. Preclinics has developed its own proprietary technology such as ImmunoJunction fusion antibodies for redirecting an existing immunity to a new target and research instruments such as the REVOLYZER for tracking of rodent behaviour and is in the process of developing its own library based technology.

The Transaction adds important intellectual property and technology to the Company’s product, service and technology estate.

Terms of Transaction with Preclinics

Under the binding letter of intent, the Company and Preclinics have agreed to negotiate a definitive agreement (the “Definitive Agreement“) whereby the Company will acquire all of the issued and outstanding shares of Preclinics for €2,300,000 (CAD$3,450,000) (the “Purchase Price“) (A) payable 35% in cash and the remainder by the issuance of common shares of the Company on closing of the Transaction, and (B) an additional €750,000 (CAD $1,125,000) is to be paid in succession payments over a period of 3 years based on continued profitability with  €250,000 (CAD $375,000) within one year, €250,000 (CAD $375,000) in year 2 and €250,000 (CAD $375,000) in year 3 with option of Preclinics’ shareholders to take the payments in cash or equity.

The letter of intent also sets forth the Company’s commitment to fund Preclinics, after being acquired by the Company, and to enter into a separate agreement with Preclinics shareholders on the development and commercialization of Immunojunction.  The CEO and CFO of Preclinics will also enter into a three year management contract, which will include non-solicitation and non-competition clauses.

The parties will be entitled to carry out due diligence of each other until February 28, 2018.  Upon the parties completing due diligence to their reasonable satisfaction, the parties will enter into the Definitive Agreement setting forth the terms and conditions of the Transaction by February 28, 2018. Completion of any transaction with Preclinics is subject to a number of conditions, including but not limited to, completion of due diligence, negotiation of definitive agreements in respect of such a transaction, the availability of financing on terms acceptable to the Company, and receipt of any required regulatory and shareholder approvals. A transaction cannot be completed until these conditions are satisfied, and there can be no assurance that a transaction will be completed at all.

Source here

Immunoprecise Adds Scientific Depth To Its Board of Directors

 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.

Renoworks Announces New Interior Moulding Enterprise Customer in Australia and Expands Sales Team to Support Growth

Renoworks Announces New Interior Moulding Enterprise Customer in Australia and Expands Sales Team to Support Growth

Renoworks creates designer solution for new product category
Renoworks well positioned for further growth with experienced sales team in-place   

CALGARY, Dec. 11, 2017 /CNW/ – Renoworks Software Inc. (TSXV: RW)(PINK SHEETS: RWOKF)(“Renoworks” or the “Company”), the leading visualizer for the home remodeling and construction industry, is pleased to announce it recently added an Australian-based interior moulding manufacturer to its platform.

Interior trim and moulding represents an exciting new product category for the Company as it works with additional manufacturers to bring visual solutions to the market and expand its product offerings.  The Australian-based company manufacturers and supplies specialized mouldings and architectural building products to all areas of the construction industry.  This manufacturer becomes the third enterprise customer on Renoworks’ platform to be based out of Australia.

“Renoworks continues to provide cost-effective solutions and expand its offerings into new categories,” said Doug Vickerson, CEO of Renoworks.  “With over a million unique users a year on our platform, our partners and customers are seeing the benefit of working with us.”

Mr. Vickerson continued, “Interestingly, the addition of another manufacturer outside our current North America focus illustrates the global potential as we continue to expand our industry reach.  In North America alone, there is a sizeable market segment with approximately 5,000 building products manufacturers and we’ve only begun to scratch the surface.”

The Company is also pleased to report that it has completed the expansion of its sales team to support its strategic growth.  The new hires bring substantial experience and will complement the existing sales team and drive the sales initiatives for the Company’s multiple business units across all its applications.

Mr. Vickerson said of the hiring, “In response to the increasing demand in all of our business units we have once again expanded our sales team.  We now have all the components in-place both from a sales and operational standpoint to capitalize on our current momentum and position our Company for significant sales growth for 2018 and beyond.”

For over 18 years, Renoworks has offered building product manufacturers various digital marketing and sales solutions that showcase their products in a realistic, true-to-life manner.    By utilizing the Renoworks digital visualization platform, manufacturers of exterior and interior building products benefit from increased interactive engagement through web sites and mobile devices., resulting in an increased number of homeowner leads, better understanding of specific homeowner interests, and a rich compilation of user data they receive using the Renoworks platform.  For more information on Renoworks solutions, visit the Company’s website at http://renoworks.com/our-work/.

 

Newswire: Renoworks Announces New Interior Moulding Enterprise Customer in Australia and Expands Sales Team to Support Growth

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