Victoria, British Columbia, Canada, September 7, 2017 – IMMUNOPRECISE ANTIBODIES LTD. (the “Company”) (TSX VENTURE: IPA)(OTC PINK: IPATF), is pleased to announce that Oren Beske, Ph.D. has joined the company as of September 1, 2017 and will be appointed the President of the ImmunoPrecise Antibodies USA Subsidiary (”the Subsidiary”). Dr. Beske holds a Ph.D in Cellular Biology from University of California, San Francisco and BS degrees in both Physiology and Biochemistry from California State University, Long Beach. Dr. Beske comes to the Company from Aragen Biosciences (Morgan Hill, California) where he served as the President since 2016. During his ten years at Aragen, Dr. Beske held various positions including Chief Technology Officer, Chief Operating Officer, and VP of laboratory services. Under Dr. Beske’s leadership, Aragen Bioscience successfully grew their customer base through high quality science and concentrated sales and marketing efforts aimed at the drug discovery and development industry. In addition, Dr. Beske was instrumental in driving operational efficiency in order to assure high-quality, value-added delivery of very diverse services.
As part of the Board’s commitment to a review of strategic acquisitions, we are excited to add an executive with Dr. Beske’s experience and track record in the biological Contract Research space for execution of our growth and acquisition goals. His unique and in-depth knowledge of the Contract Research market will be a key to leveraging our services, expanding our technology and basis for development,
“As part of the Board’s commitment to a review of strategic acquisitions, we are excited to add an executive with Dr. Beske’s experience and track record in the biological Contract Research space for execution of our growth and acquisition goals. His unique and in-depth knowledge of the Contract Research market will be a key to leveraging our services, expanding our technology and basis for development,” said Tom D’Orazio, CEO of ImmunoPrecise Antibodies.
The Company is also pleased to announce the results at the Company’s annual general and special meeting held on August 30, 2017 (the “Meeting”).
Shareholders voted in favor of all items put forward by the Board of Directors. Shareholders set the number of directors at five and approved the appointment of Thomas D’Orazio, Robert Beecroft, Guy Champagne, Greg Smith and Dr. James Kuo.
Shareholders also approved the adoption of the Company’s rolling 10% stock option plan and adopted an “Advance Notice Policy”. The purpose of the Advance Notice Policy is to provide a clear process for the shareholders, directors and management to follow when nominating directors of the Company. Such a policy will ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees and to allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
The Advance Notice Policy, among other things, includes a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company. This Advance Notice Policy also sets a deadline by which director nominations must be submitted to the Company prior to any annual general or special meeting of the shareholders and also sets out the required information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
About ImmunoPrecise Antibodies Ltd.
The Company provides custom antibody engineering and production services and protein expression to support research and development programs at leading pharmaceutical and biotechnology companies, as well as academic research laboratories. Antibodies are naturally occurring proteins capable of binding to specific target molecules, or antigens. They have been used very widely in research assays, diagnostics, purification, biologics and therapeutics.
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.
The services offered to customers include the development of mouse and rat monoclonal and rabbit recombinant monoclonal antibodies against a wide spectrum of antigens, as well as polyclonal antibodies, immunologically based assays, and 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 environmental, diagnostic and research applications.
The Company employs a highly experienced group of R&D scientists. Over the last 25 years, investments in innovative and proprietary technologies and methods have vastly improved the speed and efficiency of monoclonal and polyclonal antibody production.
For further information please contact:
ImmunoPrecise Antibodies Ltd.
3204-4464 Markham Street.
Victoria, BC V8Z 7X8
For investor relations please contact:
Contact Financial Corp.
810 – 609 Granville St.
Vancouver, BC V7Y 1G5
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. ImmunoPrecise 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 ImmunoPrecise 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 ImmunoPrecise’s expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause ImmunoPrecise’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: risks and uncertainties described in the Company’s Filing Statement dated December 13, 2016 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.