<SEC-DOCUMENT>0000950170-24-106620.txt : 20240916
<SEC-HEADER>0000950170-24-106620.hdr.sgml : 20240916
<ACCEPTANCE-DATETIME>20240916090319
ACCESSION NUMBER:		0000950170-24-106620
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240916
FILED AS OF DATE:		20240916
DATE AS OF CHANGE:		20240916

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ImmunoPrecise Antibodies Ltd.
		CENTRAL INDEX KEY:			0001715925
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39530
		FILM NUMBER:		241299484

	BUSINESS ADDRESS:	
		STREET 1:		3204-4464 MARKHAM ST.
		CITY:			VICTORIA
		STATE:			A1
		ZIP:			V8Z 7X8
		BUSINESS PHONE:		6048060626

	MAIL ADDRESS:	
		STREET 1:		3204-4464 MARKHAM ST.
		CITY:			VICTORIA
		STATE:			A1
		ZIP:			V8Z 7X8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>earnings_release_sept_16.htm
<DESCRIPTION>6-K
<TEXT>
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  <div style="padding-top:0.5in;z-index:-3;min-height:0.5in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">&#160;</font></p></div>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:16pt;font-family:Times New Roman;min-width:fit-content;">UNITED STATES</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:16pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:16pt;font-family:Times New Roman;min-width:fit-content;">SECURITIES AND EXCHANGE COMMISSION</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:16pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Washington, D.C. 20549</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:14pt;font-family:Times New Roman;min-width:fit-content;">Form 6-K</font><font style="color:#000000;white-space:pre-wrap;font-size:14pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">OF THE SECURITIES EXCHANGE ACT OF 1934</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the month of</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September, 2024</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Commission File Number: </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">001-39530</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:16pt;font-family:Times New Roman;min-width:fit-content;"> ImmunoPrecise Antibodies Ltd.</font><font style="color:#000000;white-space:pre-wrap;font-size:6pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">3204 - 4464 Markham Street, Victoria, British Columbia V8Z 7X8</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">(Address of principal executive office)</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="margin-left:20%;padding-bottom:1pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;border-bottom:1pt solid;margin-right:20%;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:6pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
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    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Form 20-F  </font><font style="color:#000000;white-space:pre-wrap;font-family:'Segoe UI Symbol',sans-serif;min-width:fit-content;">&#9746;</font></p></td>
    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Form 40-F  </font><font style="color:#000000;white-space:pre-wrap;font-family:'Segoe UI Symbol',sans-serif;min-width:fit-content;">&#9744;</font></p></td>
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  <p style="padding-bottom:1pt;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;border-bottom:1.5pt double #000000;text-align:center;"><font style="white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:1pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="page-node-content"><div style="z-index:-3;flex-direction:column;display:flex;padding-bottom:0.5in;min-height:0.5in;justify-content:flex-end;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">&#160;</font></p></div></div>
  <hr style="page-break-after:always;">
  <div style="padding-top:0.5in;z-index:-3;min-height:1.64in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">&#160;</font></p></div>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">EXHIBIT INDEX</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
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    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Exhibit</font></p><p style="border-top:1pt solid;padding-top:1pt;font-size:8pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;"> </font></p></td>
    <td style="padding-left:0.1in;vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Description</font></p><p style="border-top:1pt solid;padding-top:1pt;font-size:8pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;"> </font></p></td>
   </tr>
   <tr style="height:11pt;word-break:break-word;white-space:pre-wrap;">
    <td style="padding-left:0.1in;vertical-align:top;text-align:left;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">99.1</font></p></td>
    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><a href="ipa-ex99_1.htm"><font style="color:#0000ff;white-space:pre-wrap;text-decoration:underline;min-width:fit-content;">Press Release dated September 16, 2024</font></a></p></td>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <div class="page-node-content"><div style="z-index:-3;flex-direction:column;display:flex;padding-bottom:0.5in;min-height:1in;justify-content:flex-end;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">&#160;</font></p></div></div>
  <hr style="page-break-after:always;">
  <div style="padding-top:0.5in;z-index:-3;min-height:1.64in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">&#160;</font></p></div>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">SIGNATURES</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
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    <td style="width:42.5%;"></td>
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    <td style="vertical-align:top;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td colspan="2" style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">IMMUNOPRECISE ANTIBODIES LTD.</font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Date: September 16, 2024</font></p></td>
    <td colspan="2" style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:middle;"><p style="font-size:1pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">By:</font></p></td>
    <td style="vertical-align:bottom;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">/s/ Kristin Taylor</font></p><p style="border-top:1pt solid;padding-top:1pt;font-size:11pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;"> </font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Name:</font></p></td>
    <td style="vertical-align:bottom;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Kristin Taylor</font></p></td>
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    <td style="vertical-align:top;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Title:</font></p></td>
    <td style="vertical-align:bottom;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Chief Financial Officer</font></p></td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ipa-ex99_1.htm
<DESCRIPTION>EX-99.1
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:8pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:16pt;font-family:Times New Roman;min-width:fit-content;">ImmunoPrecise Antibodies (IPA) Reports Financial Results and Recent Business Highlights for First Quarter Fiscal Year 2025</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:8pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:8pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Achieves $5.3 Million First Quarter Revenue, Reaches Milestone Developing Antibodies End-to-End Using LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">ai</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:8pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">VICTORIA, BRITISH COLUMBIA (CANADA), September 16, 2024</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> &#x2013; IMMUNOPRECISE ANTIBODIES LTD. (the &#x201c;Company&#x201d; or &#x201c;IPA&#x201d;) (NASDAQ: IPA), an artificial intelligence-driven biotherapeutic research and technology company, today reported financial results for the first quarter of its 2025 fiscal year (&#x201c;FY25&#x201d;), which ended July 31, 2024. All numbers are expressed in Canadian dollars, unless otherwise noted.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">&#34;Our commitment to end-to-end </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">in silico </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">engineering of antibodies for challenging targets has delivered exceptional results. By harnessing our advanced computational capabilities, we've not only accelerated our R&amp;D process, but also significantly reduced costs compared to traditional technologies,&#x201d; stated Dr. Jennifer Bath, President and CEO. &#x201c;Notably, two of our three wet lab locations reported impressive double-digit revenue growth this quarter, underscoring the effectiveness of our strategy. Our third site focused efforts on rebuilding its off-the-shelf inventory, a move designed to support future sales of higher-margin products. This balanced approach of driving immediate growth while strategically positioning for future profitability demonstrates our commitment to long-term value creation. Our innovative antibody development techniques, combined with astute operational decisions, reinforce our competitive edge in this dynamic market. We're confident that this multifaceted strategy will continue to drive sustainable growth and enhance shareholder value in the quarters to come.&#x201d;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Business Highlights and Corporate Update</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">ImmunoPrecise continues to execute its growth strategy, focusing on scaling its AI-driven antibody drug discovery platforms, expanding its global client base, and optimizing operational efficiencies. The Company's comprehensive approach to antibody discovery and development is consistently yielding tangible outcomes. In the quarter ending July 31, 2024, ImmunoPrecise recorded revenue of $5.3 million, with two of its three sites delivering impressive double-digit growth rates year-over-year. While IPA's protein manufacturing site experienced a year-over-year decline this quarter, this was primarily due to an exceptionally strong performance in the previous year and rebuilding off-the-shelf inventory of higher-margin products. ImmunoPrecise's balanced approach of driving immediate growth while strategically positioning for the future underscores its commitment to long-term value creation and reinforces its competitive edge in the dynamic antibody market.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"><br>BioStrand is driving revenue growth through its LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> platform, offering fee-for-service solutions while developing commercial products tailored to IPA's extensive client base of over 600 companies. Recently, BioStrand achieved a significant breakthrough by developing and</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="page-node-content"><div style="z-index:-3;flex-direction:column;display:flex;min-height:1in;justify-content:flex-end;position:relative;"></div></div>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">optimizing antibodies entirely through computer simulations, targeting a protein within the Tumor Microenvironment (TME). This achievement is particularly noteworthy given the TME's intricate nature and the lack of prior structural data on the target. Despite these formidable challenges, our team successfully navigated the complexities of end-to-end in silico antibody development in this demanding context. Building on this AI-driven success, BioStrand is now accelerating the rollout of advanced </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">in silico</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> antibody engineering solutions, positioning the company at the forefront of computational drug discovery and potentially opening new revenue streams in this high-growth market segment.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">BioStrand is also making progress in developing applications for the AWS Marketplace. For context, the AWS Marketplace is a global platform that enables partners to leverage Amazon Web Services' technologies, programs, and expertise to build and deliver cutting-edge solutions. This marketplace provides BioStrand with enhanced visibility to a broader customer base, opening new opportunities for growth and collaboration while ensuring the delivery of high-quality, AI-driven SaaS solutions.</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Talem Therapeutics and BioStrand have partnered to enhance Talem's lead therapeutic assets using BioStrand's LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> software suite, which includes over 80 </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">in silico</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> applications. This collaboration aims to increase the data quality and value of these assets. By leveraging LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> to refine existing lead candidates, the Company expects to improve their market readiness and commercial potential. The Company plans to soon release more details on these enhanced assets, demonstrating LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">'s utility in antibody engineering and its impact on asset value.</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">First Quarter FY25 Financial Results</font></p>
  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#212121;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Revenue:</font><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> Total revenue was $5.3 million, compared to revenue of $5.7 million in fiscal year 2024 (&#x201c;FY24&#x201d;) Q1. Project revenue generated $4.9 million, including projects using IPA&#x2019;s proprietary B Cell Select&#174; platform and IPA&#x2019;s proprietary LENS</font><font style="color:#212121;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> platform, compared to $5.2 million in FY24 Q1. Product sales and cryostorage revenue were $0.4 million, compared to $0.5 million in FY24 Q1.</font></div></div>
  <p style="margin-left:5%;text-indent:0.589%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Research &amp; Development (R&amp;D) Expenses:</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> R&amp;D expenses were $1.6 million, compared to $0.9 million in FY24 Q1, with the increase reflecting increased expenditures related to the build of the Company's LENS</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:8.040000000000001pt;font-family:Times New Roman;min-width:fit-content;">ai</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> platform. </font></div></div>
  <p style="margin-left:3.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Sales &amp; Marketing (S&amp;M) Expenses: </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">S&amp;M expenses were $0.7 million, compared to $1.1 million in FY24 Q1. The reduction in sales and marketing expenses reflect lower share-based expense and cost savings from our synergistic sales efforts across our comprehensive AI-enhanced antibody discovery and development services. </font></div></div>
  <p style="margin-left:5%;text-indent:0.589%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">General &amp; Administrative (G&amp;A) Expenses</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">: G&amp;A expenses were $4.2 million, compared to $4.0 million in FY24 Q1.  </font></div></div>
  <p style="margin-left:5%;text-indent:0.589%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#212121;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
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  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Net Loss: </font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Net loss of $4.0 million, or $(0.15) per share on a basic and diluted basis, compared to a net loss of $3.4 million or $(0.14) on a basic and diluted basis in FY24 Q1.</font></div></div>
  <p style="margin-left:3.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Liquidity:</font><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> Cash totaled $4.0 million as of July 31, 2024, compared to $6.8 million as of July 31, 2023. </font></div></div>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Conference Call and Webcast Details</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">The Company will host a live conference call and webcast to discuss these results and provide a corporate update on Monday, September 16, 2024, at 10:30AM ET.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">The conference call will be webcast live and available for replay via a link provided in the Events section of the Company&#x2019;s IR pages at </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">https://ir.ipatherapeutics.com/events-and-presentations/default.aspx.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">***Participant Dial-In Details***</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Participants call one of the allocated dial-in numbers (below) and advise the Operator of either the Conference ID 3224490 or Conference Name.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">USA / International Toll +1 (646) 307-1963</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">USA - Toll-Free (800) 715-9871</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Canada - Toronto (647) 932-3411</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Canada - Toll-Free (800) 715-9871</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">***Webcast Details***</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Attendee URL:</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">https://events.q4inc.com/attendee/117003036</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Anyone listening to the call is encouraged to read the company's periodic reports available on the company&#x2019;s profile at www.sedarplus.com and www.sec.gov, including the discussion of risk factors and historical results of operations and financial condition in those reports.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">About ImmunoPrecise Antibodies Ltd.</font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">ImmunoPrecise Antibodies Ltd.</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> (&#x201c;IPA&#x201d;, the &#x201c;Company&#x201d;) (Nasdaq: IPA) is a biotechnology company that leverages multi-omics modelling and complex artificial intelligence through a series proprietary and patented technologies. The Company owns an integrated end-to-end suite of capabilities to support the development of therapeutic antibodies and are known for solving very complex industry challenges. IPA has several subsidiaries in North America and Europe including</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <div class="page-node-content"><div style="z-index:-3;flex-direction:column;display:flex;min-height:1in;justify-content:flex-end;position:relative;"></div></div>
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  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">entities such as Talem Therapeutics LLC, BioStrand BV, ImmunoPrecise Antibodies (Canada) Ltd. and ImmunoPrecise Antibodies (Europe) B.V. (collectively, the &#x201c;IPA Family&#x201d;).  For further information, visit </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">www.ipatherapeutics.com</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Investor Relations Contact</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Kirsten Beduya</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Quantum Media Group, LLC</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">kirsten@quantum-corp.com</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Forward-Looking Statement</font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">This press release contains forward-looking statements within the meaning of applicable United States securities laws and Canadian securities laws. Forward-looking statements are often identified by the use of words such as &#x201c;expects&#x201d; &#x201c;estimates&#x201d;, &#x201c;intends&#x201d;, &#x201c;anticipates&#x201d; or &#x201c;believes&#x201d;, or variations of such words and phrases or state that certain actions, events or results &#x201c;may&#x201d;, &#x201c;would&#x201d;, &#x201c;might&#x201d; or &#x201c;will&#x201d; be taken, occur or be achieved. Forward&#x2013;looking statements include statements regarding our future stock price and our ability to regain compliance with Nasdaq continued listing requirements. Although the Company believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks and uncertainties related to market and other conditions and the impact of general economic, industry or political conditions in the United States, Canada or internationally. You should also consult our quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties. These forward&#x2013;looking statements speak only as of the date of this press release and the Company undertakes no obligation to revise or update any forward&#x2013;looking statements for any reason, even if new information becomes available in the future.</font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors and risks, as discussed in the Company&#x2019;s Annual Report on Form 20-F for the year ended April 30, 2024 (which may be viewed on the Company&#x2019;s SEDAR+ profile at </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">www.sedar.com</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">and EDGAR profile at </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">www.sec.gov/edgar</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. The Company does not assume any</font><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
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  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.</font></p>
  <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#0c2340;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Source: ImmunoPrecise Antibodies Ltd.</font></p>
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