ImmunoPrecise Antibodies Opens Antibody Production Laboratory

ImmunoPrecise Antibodies (TSXV:IPA) announced the opening of a new antibody production laboratory on Vancouver Island Technology Park.
As quoted in the press release:

The addition of this new laboratory:

• More than doubles the Company’s lab footprint;
• Allows for 3X the capacity for hybridoma projects;
• Architectural and engineering features that enhance workflow and cleanliness;
• Houses new equipment [High-throughput FACS] to expand services; and
• Allows for Vivarium expansion up to 10X the capacity for hybridoma projects.

Tom D’Orazio, CEO of ImmunoPrecise, stated, “The opening of new laboratory facilities provides the infrastructure for the implementation of our strategic growth initiatives of increasing capacity and expansion of our core business.  Perhaps more importantly for our shareholders, since increasing sales is tied to our capacity, the additional capacity of this world class facility allows us to handle more projects which we expect to drive revenues.”
“We have experienced steady growth in our hybridoma business driven by our Rapid Prime service for developing monoclonal antibodies,” said Teri Otto, Director of Laboratory Services for ImmunoPrecise.  “The new lab gives us the space to support this growth for the foreseeable future.  It also gives us the ability to improve efficiency, acquire additional equipment and better allow us to offer additional services such as humanizing antibodies.”

Click here to read the full press release.

Source: www.newswire.ca