ModiQuest to Offer Ligand's OmniAb Service in Europe.

Victoria, British Columbia, Canada, October 15th, 2018 - IMMUNOPRECISE ANTIBODIES LTD. (the “Company" or “IPA”) (TSX VENTURE: IPA) (OTC PINK: IPATF) announces that ModiQuest® Research, an ImmunoPrecise Company, is now an OmniAb approved CRO, which enables ImmunoPrecise to offer OmniAb services in both the US and Europe. This approval allows ImmunoPrecise to further expand its human therapeutic antibody discovery platform in Europe.

ModiQuest® Research has a demonstrated ability to deliver a diverse, fully characterized antibody panel using ModiQuest® Research’s immunization (e.g. cell immunizations, genetic immunizations and protein immunizations) with high throughput monoclonal antibody generation and selection platform in combination with Ligand Pharmaceutical’s OmniAb animals.

“There is an increasing demand in discovery of fully characterized, functional and thereby therapeutically relevant human antibodies. By applying ModiQuest® Research’s fully integrated antibody discovery platform in combination with OmniAb, we are able to select large panels of diverse, functional, human lead antibodies specific to complex transmembrane proteins in a relatively short time span” said Debby Kruijsen, PhD, Head Contract Research of ModiQuest® Research.

Jos Raats, PhD, CEO of ModiQuest® Research added, “We are sure that the addition of the OmniAb-animals will further improve our antibody discovery applications. Especially the faster access to matured human lead antibodies is a great improvement in the timeline of our antibody discovery process”.

Jennifer Bath, Ph.D., CEO of ImmunoPrecise added: “The addition of ModiQuest® Research as an approved service provider for Ligand Pharmaceuticals is a pivotal step for both ImmunoPrecise, and it’s family of companies, as well as our therapeutic antibody clients. Blending ModiQuest’s broad range of therapeutic antibody discovery services with Ligand’s industry-leading OmniAb platform provides an extraordinary opportunity for OmniAb partners”.

About ImmunoPrecise Antibodies Ltd.

ImmunoPrecise is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials.

ImmunoPrecise operates from state-of-the-art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia, in collaboration with its wholly-owned subsidiary operations at U-Protein Express and ModiQuest Research, both in the Netherlands. The Company operates globally to offer antibody services from target analysis to pre-clinical studies.

The services offered to clients include antibody discovery against a broad spectrum of antigens, including challenging targets. Amongst these services, the Company offers hyridoma production, B-cell services, and a variety of phage display platforms. The Company also provides a broad range of supporting services including immunologically-based assays, recombinant protein manufacturing, humanization, optimization, stable cell line development, and advanced solutions to challenges faced by clients in antibody-related research and development. The antibodies produced by ImmunoPrecise target a wide variety of therapeutic, diagnostic and research applications.

For further information please contact:

ImmunoPrecise Antibodies Ltd.

Jennifer Bath, CEO

Phone: 1-778-966-1252

3204-4464 Markham Street.

Victoria, BC V8Z 7X8

Canada

www.immunoprecise.com

For investor relations please contact:

Frederick Chabot

Phone: 1-438-863-7071

Email: frederick@contactfinancial.com

Contact Financial Corp.

1450 – 701 West Georgia St.

Vancouver, BC V7Y 1G5

Canada

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. The Company uses words such as "may", "would", "could", "will", "likely", "expect", "believe", "intend" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by ImmunoPrecise in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to ImmunoPrecise’s expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause ImmunoPrecise’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things, actual revenues and earnings for IPA being lower than anticipated, and those risks and uncertainties described in ImmunoPrecise’s annual management discussion and analysis for the fiscal year ended April 30, 2017 which can be accessed at www.sedar.com. The "forward-looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, ImmunoPrecise undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.