VICTORIA, BC, Nov. 25, 2020 /CNW/ - IMMUNOPRECISE ANTIBODIES
LTD. (the "Company" or "IPA") (TSXV: IPA) (OTCQB: IPATF) (FSE:
TQB2), a leader in full-service, therapeutic antibody discovery and
development, today announced it ranked 240 on Deloitte's Technology
Fast 500™, a ranking of the 500 fastest-growing technology, media,
telecommunications, life sciences and energy tech companies in
North America now in its
26th year. ImmunoPrecise grew 475% during this
period.
ImmunoPrecise's chief executive officer, Dr. Jennifer Bath, credits the onboarding of new
clients and larger contract sizes with the company's 475 percent
revenue growth. "We continue to rapidly grow our customer base",
stated Dr. Bath. "With hundreds of clients, including well over
half of the world's top 20 pharma, many continue to expand both the
number of programs outsourced to IPA as well as the scope of each
program, selecting from a diverse set of powerful discovery
technologies."
"For more than 25 years, we've been honoring companies that
define the cutting edge and this year's Technology Fast 500 list is
proof positive that technology — from software and digital media
platforms, to biotech — truly does permeate so many facets of our
lives," said Paul Silverglate, vice
chairman, Deloitte LLP and U.S. technology sector leader. "We
congratulate this year's winners, especially during a time when
innovation is needed more than ever to address the monumental
challenges posed by the pandemic."
"Each year the Technology Fast 500 listing validates how
important technology innovation is to our daily lives. It was
interesting to see this year that while software companies
continued to dominate, biotech companies rose to the top of the
winners list for the first time, demonstrating that new categories
of innovation are accelerating in the pursuit of making life
easier, safer and more productive," said Mohana Dissanayake, partner, Deloitte &
Touche LLP, and industry leader for technology, media and
telecommunications, within Deloitte's audit and assurance practice.
"We extend sincere congratulations to these well-deserved winners —
who all embody a spirit of curiosity, and a never-ending commitment
to making technology advancements possible."
Overall, 2020 Technology Fast 500™ companies achieved revenue
growth ranging from 175% to 106,508% from 2016 to 2019, with median
growth of 450%.
About Deloitte's 2020 Technology Fast 500™
Now in its
26th year, Deloitte's Technology Fast 500 provides a
ranking of the fastest-growing technology, media,
telecommunications, life sciences and energy tech companies — both
public and private — in North
America. Technology Fast 500 award winners are selected
based on percentage fiscal year revenue growth from 2016 to
2019.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $US50,000, and current-year operating revenues of
at least $US5 million. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North
America.
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is a
global technology platform company with end-to-end solutions
empowering companies to discover and develop therapies against any
disease. The Company's experience and cutting-edge technologies
enable unparalleled support of its partners in their quest to bring
innovative treatments to the clinic. ImmunoPrecise's full-service
capabilities dramatically reduce the time required for, and the
inherent risk associated with, conventional multi-vendor product
development. For further information, visit
www.immunoprecise.com or contact
solutions@immunoprecise.com.
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. The Company
uses words such as "may", "would", "could", "will", "likely",
"expect", "believe", "intend", "should" 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, actual revenues and earnings for IPA being lower than
anticipated, and those risks and uncertainties described in
ImmunoPrecise's annual management discussion and analysis for the
previous quarter ended July 31st,
2020 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, ImmunoPrecise 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. SOURCE ImmunoPrecise Antibodies
SOURCE ImmunoPrecise Antibodies Ltd.