ImmunoPrecise Antibodies Ltd (NASDAQ:IPA) is an innovative company that is using the power of artificial intelligence in the realm of biotech. The company came into the news cycle yesterday that it had introduced a transformative artificial intelligence-powered rapid therapeutic screening platform.
The company had come up with the product through collaboration between IPA Canada and its own subsidiary BioStrand. In this context, it may be a good idea for investors to take a closer look at the nature of the product. The solution is aimed at considerably accelerating the initial stages of drug discovery.
It seeks to do that through the enabling elimination of less promising therapeutic candidates early. Once that happens, it would help in reducing costs significantly, save a lot of time, and would also minimize the risks of failure in the latter stages of drug discovery. Traditionally, the linear model of drug discovery follows an antibody discovery process before moving on to the development-related timeline.
The model imposes significant costs on the developer since there is always a higher risk of attrition due to the sort of costs that are involved in the advancement of the lead drug candidate. The model also offers very little insight into the future clinical viability of the candidates and hence, the ultimate result can often prove to be a failure despite the considerable investment of money and time.
The platform that had been developed by BioStrand is known as the HYFT® Proprietary Proteome Presence Assessment and helps in optimizing the merits of the potential drug candidate at the very early stages. The transgenic animal model market had been valued at $17.7 billion in 2021 and it is expected to grow at a CAGR of 8.1% up until 2028. Hence, the new platform that ImmunoPrecise Antibodiescame up with could be operating in a market with potential for significant growth.