ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q2 2023 Earnings Call Transcript

In part because even if one does reduce in binding or efficacy on its own, we have synergy built into that, that we have demonstrated. And so the other antibodies are retaining that efficacy for us. But we did build in a backup option should we ever actually reduce significantly in efficacy, which are the backup bins that we’ve talked about historically, our plug and play options. Those plug and play options would allow us should we ever significantly decrease an efficacy to slide over in one of the regions where we may have decreased an efficacy with an antibody that has been optimized for binding in that particular region, but avoids an epitope that may have been mutated. And one of the reasons why we have felt some of our conversations with one of the regulatory authorities involved in the process of getting, giving us feedback and making the final approval for this product that has been so encouraging, is that they’ve actually encouraged us to go ahead and consider trying some of those backup antibodies in a clinical setting, which is actually incredibly encouraging.

So we have this first line of defense that just hasn’t been broken. We’re the only group with that first line of defense that hasn’t been broken. And then we have a second line of defense that we feel quite confident with. And this, one more thing to mention with regard to how we constructed that, that I think is also really important to keep in mind is that a lot of the new mutations that are occurring are mutations that are cropping up in people who have reduced or inadequate immunity to the virus. So people who might be immunocompromised, people that were not vaccinated that has already been demonstrated to be one of the areas where we see an increase in these mutations occurring. And then those novel variants of concern beginning to spread.

And another way that we had another reason we had built in to PolyTope, these different safeguards with having synergy with having Fc function activity. And also, with the four antibodies in the combination therapy is under the premise that we may be able to stop a novel of variant of concern with new mutations in a patient from continuing to replicate and continuing to spread. So it could actually be a novel and efficacious way to actually prevent the spread of new variants of concern and prevent them from emerging in populations in addition to being able to treat patients prophylactically and therapeutically. So that’s where our real confidence in this is coming from. And with these working groups also mentioned, it has been clear to us that we really are in a pole position and the other groups really have had to go back in recent months to redefine and rediscover new molecules.

With regard to the oncology programs and your question regarding those. And in particular with our bispecific T-cell engager, we do not anticipate taking those into the clinic. We built these particular programs based on unmet needs in the market, based on really attempting to be best-in-class products in the market. Actually, that particular T-cell engager is probably the hottest asset that we have on our books right now. And it is something that we do intend to out license and then collect additional downstream milestones and royalties form.

Swayampakula Ramakanth: Perfect. Thank you very much, Jennifer, for taking all my questions.

Jennifer Bath: You’re so welcome. Okay. Thank you for joining.

Operator: Your next question is from the line of Michael Freeman with Raymond James. Please go ahead.

Michael Freeman: Hi there. Jennifer, Brad, Ilse and Barry, thanks much for taking my questions and thanks for a really great overview of what’s been going on at IPA. I wonder as it relates to the BioStrand offerings and the general sort of in silico offerings that you are rolling out, I wonder if you could provide sort of a high level €“ your high level thinking on how that offering will be stage gated from being sort of a internal development to early adopter phase rollout to being more available to clients broadly. If you could take €“ if you could take us through that that process and your thinking that would be great?

Jennifer Bath: Yes. Yes, absolutely. So as I mentioned a little bit earlier we started with limiting who we went out to share these opportunities specifically for the de novo in silico programs. And we did so based on wanting to offer these early adopter basically pricing, but in return for an €“ in return for our ability to collect that information and use that information also in a blinded manner to go out and also show proof of concept of our capability to other companies when we were ready to do so. And so what we really wanted to start with was let’s find some of these groups we have very good relationships with already, but we also have insight into what they’ve been working on for the last multiple years, what’s been their pain point, what’s been that program they couldn’t be successful with historically with other CROs and with other partnered programs.