Innovotech announces financial results for third-quarter 2009

Innovotech Inc. (TSX VENTURE:IOT) today announced its unaudited financial and operational results for the three and nine month periods ended September 30, 2009.


- Substantial Contract Research revenue increase over third quarter 2008.

- Positive clinical results for bioFILM PATM will assist market introduction of the kit. The company expects first product sales in the fourth quarter 2009.

- Agricultural biocide product AgressTM again demonstrates its effectiveness in a growing number of applications.

"The strong revenue results in Contract Research have enabled the Company to continue and increase its spending on marketing and development efforts as it brings its two lead products, bioFILM PA in Human Health and Agress in Agriculture, to market. The Company has done this while maintaining adequate cash reserves" says Dr. James Timourian, Chief Financial Officer. "In July the Company presented positive clinical outcome data on the use of the bioFILM PA test kit in clinics in Edmonton and Innovotech is now working to make the test kit easily available for Cystic Fibrosis patients across Canada. The results of field tests with Agress exceeded expectations as more applications are being found for this crop treatment product. Agress is environmentally friendly, cost effective, and is compatible with current products."

SOURCE Innovotech Inc.


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