07:52 AM EDT, 03/13/2025 (MT Newswires) -- ImmunoPrecise Antibodies ( IPA ) said Thursday it has entered into a strategic partnership with an unnamed biotechnology company to discover and develop antibody-drug conjugates and bispecific antibodies to treat cancer.

The company said the agreement is valued at $8 million and can be increased to $10 million based on program progression. It will last 18 to 24 months, the company added.

ImmunoPrecise said the partnership will use its B-cell Select platform and artificial intelligence.

Shares of ImmunoPrecise surged past 23% in Thursday's premarket activity.