The medical sector has almost always been on the radars of investors and there are many companies to look into if one wishes to discover stocks. At this point in time, one of the companies that investors could consider looking into is Immunoprecise Antibodies Ltd (NASDAQ:IPA).
On Monday, the company was in considerable focus after it made an announcement with regards to one of its subsidiary units on Monday. The announcement was related to Biostrand, the subsidiary unit of IPA which is based out of Belgium. At the time, it was announced that Biostrand had been awarded a grant worth as much as 400000 Euros by the Flanders Innovation & Entrepreneurship or VLAIO. VLAIO is a research fund that is operated by the local Flemish government in Belgium.
This particular award had been awarded to Biostrand on a conditional basis back in January but not too long ago the company had managed to fulfill all the conditions. This is the second grant that Biostrand had been awarded by VLAIO.
Back in 2020, the company got another grant worth as much as 235,000 Euros from the same institution. It goes without saying that it was a major new development for Biostrand and by extension for IPA as well. It is going to be interesting to see how the IPA stock performs in the coming days following this particular development.
Biostrand is a full-service multi-omics provider of analysis platforms and the latest grant is meant for the expansion of one of its platforms. As per the announcement on Monday it was noted that the company is going to use this grant for the purpose of expansion of the LENSai platform. It is going to accomplish that through the linking of HYFTs and 3D protein function and structure. It may be a good move to keep the IPA stock in your watch lists for now.
