Innovotech Inc.
TSX VENTURE : IOT

Innovotech Inc.

June 16, 2011 08:01 ET

Innovotech Retains Bloom Burton & Co.

EDMONTON, ALBERTA--(Marketwire - June 16, 2011) -Innovotech Inc. (TSX VENTURE:IOT), a pioneer in the field of biofilm product development, today announced that it has retained Bloom Burton & Co., a leading Canadian healthcare investment banking firm, as a capital markets advisor to help the company grow its presence in the North American capital markets and to attract investors with an understanding of healthcare markets.

"We are pleased to have the opportunity to work with Bloom Burton whose understanding and expertise in both the healthcare and financial industries will be a significant asset as we continue the expansion of our products into the market place and increase shareholder engagement," said Ken Boutilier, President and CEO of Innovotech.

"We are proud to associate our firm with both the management team and market opportunities being developed at Innovotech. In our opinion, Innovotech is tackling serious and growing problems related to biofilms that have recently become better understood. We appreciate that Innovotech is using that core understanding to develop a diverse set of potential solutions for the market across a number of industries," stated Jolyon Burton, CEO of Bloom Burton & Co.

About Bloom Burton & Co.

Bloom Burton & Co. is Canada's largest healthcare investment research and banking group. Bridging the gap between the life sciences and the capital markets, Bloom Burton provides strategic advisory and capital raising services for Canadian private and public healthcare companies. Bloom Burton's clients consist of both research and commercialization-stage companies that operate in the biotechnology, pharmaceutical, medical device, diagnostic and healthcare services industries. The firm primarily attracts its capital from global healthcare-specialized investors. For additional information, please visit www.bloomburton.com.

About Innovotech Inc.

Innovotech Inc. is a pioneer in the field of biofilm product development, focused on providing innovative and practical solutions to medical, agricultural and industrial problems caused by microbial biofilms. Biofilms are responsible for a host of diseases both in human health and agriculture due to their inherent resistance to existing antibiotics and disinfectants. Aside from Innovotech's products there are no antibiotics, disinfectants, diagnostics or regulatory standards designed specifically for biofilm-forming organisms.

Innovotech has a broad range of products that address the issue of biofilms within a number of different industries, including three commercial products, the MBEC Assay™, bioFILM PA™ and InnovoSCEPT veterinary kits. The MBEC Assay™ is a high throughput biofilm growth device that was recently approved as an ASTM International standard. bioFILM PA™ is the first diagnostic kit to assist physicians in the selection of the most effective combination antibiotic treatment of patients with biofilm-based chronic lung infections, while the InnovoSCEPT veterinary kits are designed to determine the most effective antibiotic treatment for infections in both large and small animals.

Innovotech also has two products in advanced stages of development; Agress® is a unique, environmentally friendly seed treatment and plant spray designed to protect crops against both bacterial and fungal infections and Sani-Lux™ is a light-activated, natural hard surface sanitizer.

Connect with us:
Website:www.innovotech.ca
Blog:www.cf-test.ca
Twitter:www.twitter.com/innovotech
Facebook:www.facebook.com/innovotech

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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