** Shares of biotech firm ImmunoPrecise Antibodies IPA.O rise 17.5% to $70 premarket
** IPA says it has used AI to design new peptides that are as effective as or better than semaglutide, a popular drug for treating diabetes, in lab test
** Two of their five engineered peptides matched or exceeded semaglutide's performance in receptor activation tests
** Co's proprietary tech, called HYFT and LENSai, uses mathematical patterns to design peptides that are stable, effective and biologically active
** IPA says it is planning to test the peptides in animal models and explore different ways of delivering them to patients, such as injections or skin patches
** Semaglutide, sold by Danish drugmaker Novo Nordisk NOVOb.CO, is the active ingredient in Ozempic and Wegovy to treat diabetes and obesity
** As of last close, IPA's stock was up 45.8% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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