Innovotech Inc. (TSX VENTURE:IOT) today announced its unaudited financial and operational results for the three and six month periods ended June 30, 2009.
- Company shows revenue increase over second quarter 2008.
- Positive clinical outcomes demonstrated for bioFILM PA
- Company maintains healthy cash reserve
"The Company has maintained its product development momentum through an increase in contract revenue in the second quarter and continuing strong cash reserves" say Dr. James Timourian, Chief Financial Officer of Innovotech. "bioFILM PA has achieved another milestone with the demonstration of positive clinical outcomes in use in cystic fibrosis patients (see www.innovotech.ca for more detail). Agress continues to show promise in an expanding portfolio of crop and disease uses while awaiting regulatory approval. Evaluation and licensing discussion have continued with several multinational agriculture companies."