ImmunoPrecise Antibodies (IPA) said Thursday it has entered into a strategic partnership with an unnamed biotechnology company to discover and develop antibody-drug conjugates and bispecific antibodies to treat cancer.
The company said the agreement is valued at $8 million and can be increased to $10 million based on program progression. It will last 18 to 24 months, the company added.
ImmunoPrecise said the partnership will use its B-cell Select platform and artificial intelligence.
Shares of ImmunoPrecise surged past 23% in Thursday's premarket activity.
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