VICTORIA, BC / ACCESSWIRE / December 7, 2023 / ImmunoPrecise Antibodies (NASDAQ:IPA) ("IPA"), a leading company in AI-driven biotherapeutic research and technology, has recently announced important changes to its Board of Directors and upcoming financial reporting activities. At its recent Annual General Meeting, the company welcomed Mitch Levine to its Board of Directors, which was followed soon thereafter by his appointment as the Chairman of the Board. With extensive experience in the life sciences industry and in financial strategy, specifically in Nasdaq market operations, Levine brings valuable expertise to the company.
IPA stands out as a pioneering Contract Research Organization (CRO) in the biopharmaceutical industry, particularly distinguished for its adeptness in implementing Vertical AI, a concept that intertwines industry-specific knowledge with artificial intelligence (AI). With a rich history spanning over three decades, IPA not only offers a myriad of specialized services in antibody discovery and development but also integrates Vertical AI, ensuring that AI models are not just theoretically sound but are also embedded with practical, industry-specific insights and data. Unlike generic AI, IPA's Vertical AI holds the potential to develop precise, tailored therapies and treatment decisions with the aim of enhancing patient outcomes by identifying patterns and predicting safer and more effective drugs for patients.
Levine has been the CEO and Chairman of SmartHealth Dx since 2022, where he successfully focused on enhancing the company's strategy, operational efficiency, and overall corporate value. Previously, during his tenure as CFO at Oncocyte from 2017 to 2022, he played a pivotal role in driving significant growth. He oversaw all financial operations, managed capital raises, navigated Nasdaq complexities and spearheaded major acquisitions, as well as a significant licensing deal in China.
Levine's remarkable capital markets expertise was widely acknowledged during his 17-year tenure as the Founder and Managing Member of Enable Capital Management, LLC. During this time, his company provided growth capital to numerous small- and mid-sized public companies, many of which were traded on the Nasdaq. He also played a fundamental role at The Shemano Group, an investment bank headquartered in San Francisco that focused on technology and life sciences sectors.
Dr. Jennifer Bath, CEO of ImmunoPrecise Antibodies, shared, "We anticipate his guidance in financial strategies and market dynamics to be a significant asset in driving IPA's growth and expansion, as well as shareholder value. This is particularly important as we progress our AI-driven technologies such as our patented HYFT® technology and LENSai™ software."
As of 2022, the global drug discovery market was worth $81.5 billion, and it is expected to reach $181.4 billion by 2032 with a compound annual growth rate (CAGR) of 8.5% from 2023 to 2032. The patented technology behind ImmunoPrecise Antibodies' LENSai provides data fusion capabilities and infinite scalability. By connecting the fundamental pillars of the biosphere through sequence, structure and function, LENSai enables valuable predictions and insights, driving advancements in the field of life science discovery.
With Levine's extensive knowledge and experience, his presence on the Board of Directors will contribute to the company's ongoing growth.
Levine's addition to the company is accompanied by Dirk Witters' appointment as the Chairman of the Audit Committee. Mr. Witters has an extensive background in finance and auditing, having previously served as an executive partner in a corporate finance boutique and an advisor to the founder of New Rhein Healthcare Investors, a private equity investment firm that focuses on healthcare therapeutics and medical devices.
Effective October 2, 2023, Chris Buyse also took over as Chairman of the Remuneration and Nomination Committee. Mr. Buyse also brings experience in Nasdaq-listed life sciences companies as well as pharmaceutical companies, and he is currently a Board member and Chairman of the Audit Committee of Inventiva SA, a dual-listed company on Euronext Paris and Nasdaq, and a board member and member of the Audit Committee of Hyloris Pharmaceuticals, a company listed on Euronext Brussels.
The company has also announced that it will host a conference call to discuss its quarterly results and recent business highlights for the second quarter of fiscal year 2024 on Thursday, December 14, 2023, at 10:30 am Eastern Time.
Featured photo by CDC on Unsplash.
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SOURCE: ImmunoPrecise Antibodies Ltd.