Innovotech Inc.

Innovotech Inc.

March 30, 2005 13:39 ET

Innovotech Inc.: MBEC BioProducts Inc. Receives Alberta Agriculture Funding Consortium Grant


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INNOVOTECH INC.

TSX VENTURE SYMBOL: IOT

MARCH 30, 2005 - 13:39 ET

Innovotech Inc.: MBEC BioProducts Inc. Receives
Alberta Agriculture Funding Consortium Grant

EDMONTON, ALBERTA--(CCNMatthews - March 30, 2005) - Innovotech Inc. (TSX
VENTURE:IOT) is pleased to announce that its wholly owned subsidiary,
MBEC BioProducts Inc., has recently received an Alberta Agriculture
Funding Consortium grant in the amount of $330,000 for the project
"Development of Pesticides and Disinfectants for Prevention and Control
of Microbial Biofilms." The project will be led by Dr. Lyriam Marques,
Associate Research Director of MBEC BioProducts and an Alberta Ingenuity
Fund Industrial Associate.

Fusarium infestation of grain seeds, potato ring rot and potato soft
rot, as well as several fungal and bacterial plant vascular diseases,
are all biofilm diseases that cause hundreds of millions of dollars of
crop losses in Western Canada. None of these diseases is controlled
adequately by current treatments.

"The biofilm origin of these agricultural diseases has not been
adequately researched," says Ken Boutilier, President of MBEC
BioProducts Inc. "The expertise and technology of MBEC BioProducts will
not only allow for a vast improvement in the scientific understanding of
these diseases, but it will also lead to the identification and
development of novel solutions to treat these diseases. Products
resulting from such solutions will be commercialized as quickly as
possible by MBEC and the resulting intellectual property will be added
to our expanding portfolio. This support from the Agricultural
Consortium is crucial for our company to pursue this research."

Innovotech Inc. is a public company focused on acquiring novel
technologies, or promising technology based companies with an existing
or imminent revenue stream. In addition to financial investment in these
technologies, Innovotech provides management and technology
commercialization expertise.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Innovotech Inc
    Dr Gerard Tertzakian
    CEO
    (780) 448-0585
    (780) 424-0941 (FAX)
    or
    MBEC BioProducts
    Ken Boutilier
    President
    (780) 452-8687
    (780) 452-8807 (FAX)
    Website: www.mbec.ca
    or
    Alberta Agriculture Research Inst.
    Freda Molenkamp
    Leader, Programs & Partnerships
    (403) 422-6570
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.