U-Protein Express BV – which Immunoprecise acquired in August for €6.83m ($8.03m) – currently owns 37% of the issued and outstanding shares of QVQ.
QVQ is a Netherlands-based contract research organization (CRO). The company’s core capability is the development of single-domain monoclonal antibodies (VHHs), which are derived from llamas.
Additionally, QVQ has an inventory of both unique and patented monoclonal antibodies that it sells directly to customers.
“ImmunoPrecise has the ability to introduce QVQ’s single-domain, VHH platform to our existing customer base as well as new customers we are pursuing,” said Tom D’Orazio, CEO of ImmunoPrecise in a press release.
ImmunoPrecise Antibodies provides custom antibody development and production services and protein expression services, operating out of the Vancouver Island Technology Park in Victoria, British Columbia.
The company has issued the binding letter of intent, under which ImmunoPrecise and QVQ have agreed to acquire QVQ for €500,000 ($587,662.50).
“The acquisition of QVQ Holding brings strategic advantages for U-Protein Express in producing novel VHHs as well bispecifics with VHHs on a human Fc backbone thereby enabling additional advantages regarding binding and half-life,” added Martin Hessing, CEO of U-Protein Express.”