Innovotech Submits New Provisional Patent Application

Tickers: XTSX:IOT
Tags: #Biotechnology, #Mining, #Healthcare



Edmonton, AB - TheNewswire - February 20, 2020 - Innovotech Inc. (TSXV:IOT) is pleased to report submitting a provisional patent application on February 18, 2020 pertaining to their newly developed in vitro testing assay: the BESTplus AssayTM.

Innovotech's team has successfully developed the next generation of the BEST Assay(TM) (Biofilm Eradication Surface Testing) for coated medical devices. The new BESTplus AssayTM delivers a testing design that is more clinically relevant for testing coated catheters, tubes and stents that are used in blood stream, peritoneal, spinal or urinary applications.

The BESTplus AssayTM will be featured by Innovotech in customer contract research projects designed to evaluate medical device coatings and to aid clients in meeting US FDA requirements for regulatory approval. The development of the BESTplus AssayTM reinforces Innovotech's place as a leader in the medical device testing industry and is expected to help drive client and revenue growth.

Dr. Amin Omar

COO, Innovotech Inc.

780-448-0585 ext. 1

This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company's reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company's exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management's assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward-looking statements, except as required by applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of materials in this news release.

Copyright (c) 2020 TheNewswire - All rights reserved.

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