ImmunoPrecise Antibodies Ltd (CVE:IPA, OTC PINK:IPATF) has hired San Francisco based LightPath Capital Inc to help in its bid to raise up to $20mln with institutional investors to aid its acquisition strategy.
The latter will act as the group's financial adviser and placement agent.
This is also a strategic first step in positioning the company to pursue a listing on the Nasdaq within the next year, said Immunoprecise.
"In engaging LightPath based in one of the world's largest biotech hubs, IPA is proceeding with financing of its strategic acquisition activities and engaging strategic partners globally," said Dr James Kuo, chairman and interim president Immunoprecise.
Ron E. Foy, of LightPath's San Francisco office, added: "We are very pleased to have the opportunity to work with Immunoprecise on this assignment, and we believe that the company's growth strategy is well-timed and that Immunoprecise provides a significant rollout strategy opportunity in the antibody discovery process space in which humanized antibody technologies will drive higher margins by arbitraging Europe with America's health care sector."