ImmunoPrecise Antibodies Ltd. ( IPA ) shares are trading higher on Thursday after the company announced a strategic partnership with a biotechnology giant to develop antibody-drug conjugates (ADCs) and bispecific antibodies for the treatment of cancer.

The Details: The agreement, valued at $8 million to $10 million, will span 18 to 24 months and cover the discovery, optimization, and preclinical-grade production of multiple antibody-based therapeutics aimed at developing effective cancer treatments.

“With the purchase order secured and work already underway, we are actively leveraging our proprietary B-cell Select platform and LENS technology to accelerate the development of highly targeted cancer therapeutics, said Dr. Jennifer Bath, CEO of ImmunoPrecise. 

“This collaboration highlights IPA’s role in shaping the future of next-generation biologics with data-driven precision and efficiency.”

See Also: Ulta Beauty Q4 Earnings Preview: Comparable Sales, Gross Margins On Watch

IPA Price Action: At the time of publication, ImmunoPrecise shares are trading 12.9% higher at 41 cents, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.