Edmonton - TheNewswire - January 21, 2022 - Innovotech Inc. (TSXV:IOT), a pioneer in the field of biofilm product development, today reported that the Material Transfer and Collaboration Agreement with a global medical device company, announced on July 14, 2020, for Innovotech’s InnovoSIL™-1 silver periodate antimicrobial compound, has been terminated.

InnovoSIL™-1 antimicrobial silver’s performance in terms of biocompatibility and antimicrobial activity was not a factor in the termination of the Agreement.

InnovoSIL™-1 antimicrobial silver continues to show outstanding antimicrobial performance, demonstrating anti-adherent and antibiofilm properties under a variety of challenging test conditions.  Innovotech is presently working with three industry collaborators who are pursuing a variety of applications for InnovoSIL™-1 antimicrobial silver and expects to sign a Material Transfer Agreement with a fourth collaboration partner in the next few days.

About InnovoSIL™-1 Antimicrobial Silver

InnovoSIL™-1 antimicrobial silver possesses exceptional properties for efficacy against microbial biofilms as well as simplicity for coating onto or incorporating into medical devices, with favorable release characteristics. The unique structure around the silver present in the anion slows its inactivation by bodily fluids. Combining silver and iodine increases antimicrobial mechanisms of action, reducing the likelihood of a target developing resistance to it. InnovoSIL™-1 antimicrobial silver has demonstrated excellent stability under a wide variety of challenges and can be easily synthesized with high purity in a form that is simple to deposit onto metals or incorporate into wound dressings, gels, or polymers.

About Innovotech

Innovotech is a Canadian biotechnology company owning proprietary intellectual property, conducting contract research, and owning and providing proprietary devices for testing in multiple applications in microbiology.  Innovotech can be found online at www.innovotech.ca.

“Alan Savage”

Alan C. Savage

Director & CFO

Innovotech Inc.

604 220-4935

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.

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