ImmunoPrecise Antibodies (IPA) is a contract research organization (CRO) that provides antibody discovery and development services to pharmaceutical and biotech companies. IPA's core offering helps drug developers identify and optimize therapeutic antibody candidates against targets in oncology, autoimmune, and neurological diseases. IPA's flagship wet lab service is its B Cell Select platform, which screens antibodies directly from B cells across multiple species, including transgenic humanized animals. IPA is one of a small number of approved CROs for leading transgenic animal platforms — a meaningful differentiator, as these platforms generate fully human antibodies relevant to clinical development. Other wet lab services include phage display, hybridoma development, protein manufacturing, antibody characterization, humanization, and bispecific engineering. Wet lab CRO services account for the vast majority of revenue, which is earned on a project basis as work is completed. Revenue quality is driven by program complexity and species, with therapeutic programs commanding higher fees than diagnostic ones. IPA also operates BioStrand, an AI-driven subsidiary that has built the LENSai platform for in silico drug discovery, including epitope mapping, immunogenicity prediction, and de novo antibody design. BioStrand sells access on a fee-for-service and SaaS basis and carries gross margins approaching 90%. IPA is divesting its two Dutch wet lab subsidiaries to reduce costs and concentrate operations in Canada and the US, while positioning BioStrand's AI capabilities as an integrated component of every therapeutic discovery program. IPA also holds an internal pipeline of therapeutic antibody assets through Talem Therapeutics, intended to generate out-licensing, milestone, and royalty revenues.