Innovotech awarded $300,000 in grant funding to develop InnovoSIL-1 Antimicrobial Silver
Edmonton, Alberta - TheNewswire - 28 November, 2023 - Innovotech Inc. (TSX-V:IOT) has been awarded $300,000 in grant funding through Alberta Innovates to develop InnovoSIL™-1, the first in a family of revolutionary new antimicrobial silver compounds developed and patented by Innovotech. InnovoSIL™-1 silver has uniquely effective properties for eliminating preformed biofilms and preventing microbial adherence to surfaces. It has long lasting efficacy against a broad spectrum of microbes and does not suffer from rapid inactivation in bodily fluids, unlike many commercially available silver compounds.
The non-refundable contributions were awarded by Alberta Innovates under the “Accelerating Innovations into CarE” program, also knowns as AICE. Alberta Innovates will contribute $300,000 with Innovotech supporting a minimum of $100,000 from cash and in-kind resources.
Innovotech plans to use the funding for antiviral testing, scale-up of manufacturing methods, and further coating process development.
“We are excited for the opportunity provided to us through this grant. It will allow us to further develop knowledge of, and applications for, InnovoSIL™-1 silver, so that we can better support collaborators interested in including it as an antimicrobial in their product line,” says Dr. Patricia Nadworny, Chief Scientific Officer at Innovotech.
Innovotech is working with collaborators to commercialize InnovoSIL™-1 silver across different applications and is actively seeking additional opportunities for development or licensing.
About Innovotech Inc:
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 and can be found online at www.innovotech.ca.
Craig Milne, CEO, Innovotech Inc.
+1-604 220-4935, email@example.com
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