VICTORIA, British Columbia–(WORK TEL)–IPA (IMMUNOPRECIS ANTIBODIES LTD.) (“Company” or “IPA”) (NASDAQ: IPA) (TSXV: IPA), BioStrand BV is pleased to announce that it has completed the previously announced control acquisition over BioKey BV. and BioClue BV (hereinafter collectively referred to as “)BioStrand”) is a pioneer in bioinformatics and biotechnology through a group of Belgian biotechnology organizations and its wholly owned subsidiary, ImmunoPrecise Netherlands BV.
“Combining BioStrand and IPA reflects the Company’s commitment to acquire truly transformative technologies that go beyond traditional competencies that enable the development of safe and effective antibody therapies. For several years now, IPA’s team has scrutinized artificial intelligence (AI) and machine learning technologies, seeking capabilities that do not allow for an obscure use of computational analytics or incremental and limited additions to existing research tools. instead, change the course of personalized medicine and the philosophy behind what really makes sense for the future of artificial intelligence in the life sciences,” commented IPA CEO Dr. Jennifer Bath.
“With BioStrand joining the IPA family, we are rewriting the future of biotherapeutic discovery that provides unique and rapid access. in silico Technologies that definitively improve the specificity and design of biotherapeutics,” Dr. Bath continued. “This is achieved in part by using patent-pending technologies that identify, identify and encode finite and unique fingerprints that represent structures and functions found in all ohmic data. Together, We share a shared vision and unique strengths, using the power of rapidly analyzed genomic, transcriptomic and proteomic data, together with natural language processing, to understand the structural and functional underpinnings of diseases and develop life-saving precision medicines. Our combined capabilities are to transform the way therapies are designed, approved and prescribed. brings us closer to more precise and powerful individualized therapies.”
ImmunoPrecise Netherlands BV is a private limited company holding 75.01% of BioStrand’s issued and outstanding shares and the remaining 24.99% of BioStrand’s issued and outstanding shares of Idea Family BV. purchased its outstanding shares.
At closing, the Company paid approximately €20 million to vendors called CHARMQUARK EEN, a partnership (maatschap) controlled by Dirk Van Hyfte, a partnership of CHARMQUARK TWEE (maatschap) Ingrid Brands and K&E BV, a private limited company (vennootschap) It is controlled by Koen Quaghebeur and Els Paesmans. The amount consisted of a total of 4,077,774 IPA common shares representing approximately EUR 16,265,500 based on the thirty-day volume-weighted average price of common shares that expired on the trading day immediately prior to closing; and cash payment of approximately 3,734,500 €.
This consideration also includes a contingent earnings payment based on BioStrand’s profitability over a 7-year period, which in total will not exceed €12 million.
IPA will provide BioStrand with a total investment of € 6 million over a 3-year period for operating expenses, development of the BioStrand platform and correction of deficiencies.
Issued common shares are subject to a statutory resale restriction under Canadian securities laws, as well as a contractual escrow agreement between sellers, the IPA and an escrow agent, which provides for a gradual release of common shares over a period of time, upon closing. 3 year period.
Each of BioStrand and its collateral holders are arm’s length parties to the Company.
ImmunoPrecise Antibodies Ltd. About
ImmunoPrecise Antibodies Ltd. is a biotherapeutic, innovation-driven company that supports its partners in their quest to discover and develop new antibodies against a wide range of target classes and diseases. The company offers a hybrid of services and programs with advanced platforms and technologies (dynamic scientists and business consultants) to optimize antibody discovery and development against rare and/or challenging epitopes. For more information, visit www.immunoprecise.com.
About BioStrand BV, BioKey BV and BioClue BV
BioStrand, BioKey and BioClue are private limited companies established under Belgian law and operate in the field of bioinformatics and biotechnology. BioStrand’s focus is on processing biological sequences and generating biological sequence information, software development, algorithms, data visualization and visual analytics. Potential applications are in the field of molecular diagnostics, point-of-care testing, in-depth analysis for drug development, prediction, construction and customization of biopolymer sequences, as well as a product, service or tool that stores this information in a database.
BioKey’s job is to identify characteristic biological sequences and their different information layers in proteins, RNA and DNA, develop a knowledge base containing these characteristic biological sequences and information layers, and use this database for processing biological sequences. and compare processed biological sequences.
BioClue focuses primarily on the technology to perform secondary analysis consisting of read mapping/joining and instant identification of variations, as well as advanced technology related products, services and tools aimed primarily at identifying biological sequences in proteins, RNA and DNA. through mass spectrometry, sequencing, microarray or hybrid microarray system technologies.
This news release contains forward-looking statements within the meaning of applicable United States securities laws and Canadian securities laws. Forward-looking statements are often defined by the use of words such as “potential”, “plans”, “expects” or “does not expect”, “expects”, “anticipates”, “intends”, “estimates” or “anticipates”. does not predict” or “believe” any variations or variations of such words and phrases, or indicate that certain actions, events or outcomes “could”, “could”, “could”, “could” or “happen”, “could” or “will” Forward-looking information contained in this newsletter includes, but is not limited to, statements regarding the launch of sequencing technologies, and in silico prospects for discovery platforms and their impact, the consideration for contingent returns, the form and use of investment consideration provided to BioStrand by IPA, the prospects for synergies from the transaction and the ability to integrate BioStrand into the Company’s business, and the results of the anticipated transaction’s completion into the Company’s operations, financial terms and consequences. effect. With respect to the forward-looking information contained herein, the Company has provided such statements and information based on certain assumptions that management believed to be reasonable at the time. Forward-looking information includes known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements described herein to differ materially from future results, performance or achievements expressed or implied by forward-looking information. Actual results may differ materially from those currently expected due to a number of factors and risks, including but not limited to the risks outlined in the Company’s Annual Information Form dated July 27, 2021 (visible in the Company’s profile). www.sedar.com) and the Company’s Form 40-F, Amendment No. 28 September 2021. 1 (Can be viewed on the company’s profile at: www.sec.gov). If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements are incorrect, actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements contained in this newsletter. Accordingly, readers should not place undue reliance on the forward-looking information contained in this newsletter. The forward-looking statements contained in this newsletter are made as of the date of this publication and are accordingly subject to change after that date. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether written or oral, that may be made by us or on our behalf from time to time.
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SOURCE Immunosensitive Antibodies