ImmunoPrecise Antibodies Ltd. signed a binding letter of intent to invest €250,000 for 35% of the capital stock in SERPINx BV to assist in the development of recombinant protease inhibitors to treat bradykinin-mediated diseases.
The company will have the right of first option to acquire the remaining outstanding and issued shares of SERPINx before any other third party or before any additional funding with any other third party.
In addition, the letter sets forth SERPINx's commitment to undertake and fund animal trials for its proprietary lead compounds at ImmunoPrecise's Victoria facilities.
SERPINx is a Dutch protein therapeutics company involved in developing novel serine protease inhibitor therapeutics for inflammatory-associated diseases, in particular angioedema.
The companies will carry out due diligence until Jan. 15, 2018, after which they will enter a shareholder agreement setting forth the terms and conditions of the investment.