Edmonton – TheNewswire - November 15th, 2022 -  Innovotech Inc. (TSXV:IOT) returned to profitability in its third quarter (Q3) ended September 30th, earning $41,692 from revenue of $340,527 versus a loss of $21,472 in the prior year period from revenue of $236,757.  The improved results stemmed from higher revenue and favourable exchange rates.

We are excited to advise that Innovotech’s MBEC Assay plate is going into space. Aequor Inc has an experiment on the manifest for a November 20th launch to the International Space Station (ISS) from the Kennedy Space Center on SpaceX-26.  A SpaceX Falcon 9 rocket will launch a Dragon 2 spacecraft on its sixth cargo resupply mission to the ISS, including Aequor's experiment to test the efficacy of its treatment to control water contamination in microgravity.  Aequor's experiment includes a modified version of Innovotech's MBEC Assay plate.

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

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.