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ImmunoPrecise says ModiQuest managing director leaving to take CEO role

Raats founded ModiQuest Research in 2005 and served as its CEO

A photo from a lab
Netherlands-based ModiQuest was acquired by ImmunoPrecise last year

ImmunoPrecise Antibodies Ltd (CVE:IPA) (OTCMKTS:IPATF) said Friday that Jos Raats has resigned from his position as managing director of its ModiQuest Research BV subsidiary to pursue duties as CEO of Absano BV.

Raats founded Netherlands-based ModiQuest Research in 2005 and served as its CEO. ImmunoPrecise acquired the company last year.

"I want to thank Jos for his valuable service and leadership," ImmunoPrecise CEO Jennifer Bath said in a statement. "He was instrumental in integration of ModiQuest Research into the IPA family of companies.”

READ: Immunoprecise shares now eligible for electronic clearing and settlement in the US

Shares of Victoria, British Columbia-based Immunoprecise climbed C$0.01 to C$0.81 in Friday’s Canadian trading. They gained US$0.01 to US$0.60 on the OTC Markets.

Absano is developing antibodies for therapeutic and diagnostic applications in the field of cancer, autoimmunity and infection. It’s working with TACPA BV, a clinical-stage company focusing on a Phase 1 anti-inflammatory antibody candidate directed at multiple diseases that was developed using ModiQuest's antibody technologies.

In addition, ImmunoPrecise said Debby Kruijsen is the new general manager of ModiQuest Research. In 2012, she joined ModiQuest Research as a scientist supervising hybridoma antibody discovery projects. A year later, she became responsible for contract research projects.

In February, ImmunoPrecise announced that its common shares were now eligible for electronic clearing and settlement through the Depository Trust Co in the US.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Price: 2.37 CAD

TSX-V:IPA
Market: TSX-V
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