ImmunoPrecise Antibodies Ltd.

Good morning and welcome to IPA's earnings call for the third quarter fiscal year 2023. I am Regina and I will be your host for today's call. Before we begin, I would like to remind everyone that our remarks today may include forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our statements. We encourage you to review our filings with the Securities and Exchange Commission for a more complete discussion of these risks and uncertainties. IPA undertakes no obligation to update these forward-looking statements except as required by law. On today's conference call and the accompanying presentation slides, non-GAAP financial measures will be used to help investors and analysts understand IPA's business performance. IPA believes adjusted EBITDA reflects the business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. An explanation and reconciliation of non-GAAP to GAAP measures can be found in the text of our management discussion and analysis filed on EDGAR and CDAR. With that, I will now turn the call over to IPA's CEO, Dr. Jennifer Bath, to provide an overview of our results for the quarter.

Thank you, Regina.

Ladies and gentlemen, welcome to our third quarter earnings call. We are happy to report a very noteworthy quarter for IPA. characterized by strong revenue growth, the expansion of new revenue streams using our AI-driven lens AI complex technology, and the establishment of a potentially disruptive and valuable AI-driven research collaboration. Regarding this most recent pioneering collaboration, the partnership aims to tackle some of the world's most challenging drug targets, specifically those within cells, which have been long considered inaccessible. By combining IPA's unique discovery technologies with Libera Bio's intracellular targeting formulations, we believe we are offering our investors an important value proposition. Furthermore, we are energized by our ongoing efforts to finalize an AI-driven research collaboration on an additional complex oncology program. The partnership under negotiation is under negotiation with a highly respected multi-billion dollar global leader in the field of oncology therapeutics, and also focuses on a particularly challenging class of oncological proteins. As previously indicated, this program is still estimated to close around the end of this month. We are confident that these strategic initiatives will continue to drive growth, innovation, and shareholder value. And we look forward to sharing more details on our progress during this call. In relation to our COVID drug product, while we continue to await delivery from our contract development and manufacturing organization, ChemPartner, we have taken decisive action to address the unanticipated delays. We have put any significant further investment into the program on hold. as we are hopeful for a promising and mutually beneficial resolution with the service provider. We are currently engaged in what we hope will be productive discussions to address this matter, and we will share more details about this important opportunity both later on this call and going forward when details become available. Regarding our quarterly financials, IPA's overall project revenue increased by 16.7% compared to the prior year. driven primarily by the growth of the company's proprietary B-cell select platform and protein manufacturing services. On a site-by-site basis, this increase reflects overall revenue growth at our Utrecht site of 25.3% year-over-year on a Euro basis, and at our Victoria site, an increase of 11%. On a project revenue basis, so excluding the more time variable off-the-shelf product sales and cryopreservation, Victoria and Utrecht have experienced significant revenue growth of 24.6% year over year and 48.9% year over year, respectively. Brad will share more details about our strong quarter revenue shortly. This quarter, we were also excited to unveil our new website. showcasing our innovative technologies, including those of our recently acquired subsidiary BioStrand. These modern in-silico solutions have generated new revenue streams with the potential for quicker turnaround time, faster revenue recognition, and higher profit margins. These recently publicized additions to our offerings underscore the value and potential of this strategic acquisition for our investors. We have also made strategic changes to the TALM website content to better align with our overall focus on out-licensing products and reducing expenditures related to partnerships and collaborations. With a slightly refocused approach, we aim to boost profits and curb expenses while delivering high-quality, valuable products to our partners. This new direction for TALM involves a gradual shift away from programs where the subsidiary bears most of the preclinical research costs. Instead, it places greater emphasis on upfront financial arrangements complemented by downstream revenue. This change is expected to benefit both TALM and our organization as a whole as we move forward in our quest for sustained growth and advancement. Lastly, in our general overview, we are pleased to announce that IPA has partnered with a premier executive search firm specializing in the life sciences industry to identify and secure top talent for the position of a non-executive board director. This collaboration will ensure a highly customized search process, enabling us to select the best candidate who will contribute significantly to delivering long-term value for our shareholders and further solidifying IPA's position as a leader in the industry. Now, for the much-anticipated update on sales and revenue, I will turn the call over to Barry Duplantis.