CRO deal signals intent in antibody discovery
ImmunoPrecise Antibodies (TSX Venture: IPA) closed 12% up on Friday at C$0.74 as the Canadian contract research organization (CRO) announced a major acquisition.
The company is to pay 7 million euros ($8.6 million) to buy the Dutch firm ModiQuest Research, claiming that this will add at least C$750,000 in additional earnings before interest, depreciation and amortization (EBITDA) by 2019.
This deal will create a single source provider of services across the full antibody discovery value chain.
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