Innovotech Inc.

Innovotech Inc.

February 03, 2011 08:01 ET

Innovotech's bioFILM PA™ Receives Regulatory Approval In Israel

EDMONTON, ALBERTA--(Marketwire - Feb. 3, 2011) - Innovotech Inc. (TSX VENTURE:IOT), a pioneer in the field of biofilm product development, today announced that LevPharm Ltd. of Israel has received regulatory approval allowing the company to commence marketing and distributing Innovotech's bioFILM PA™ test to hospitals possessing Cystic Fibrosis units within Israel. The marketing licence is valid for one year and will be extended subject to clinical outcomes and physician's recommendations (regular Ministry of Health procedure).

"This is the first approval of bioFILM PA™ outside of Canada and represents an acceptance of the need for a diagnostic capable of testing organisms in a biofilm state," said Ken Boutilier, President and CEO of Innovotech Inc. "It provides an opportunity for doctors to treat Israeli patients with effective antibiotics that are tailored to their personal chronic infections. These patients have the potential to recover more quickly, while saving the health care system money, and bacteria will have less chance to develop resistance. Biofilms are the cause of virtually all chronic bacterial infections and are notoriously hard to eradicate. Use of biofilm PA™ will result in better treatment choices right from the start."

The current market capacity in Israel for bioFILM PA™ is estimated to be over 3,000 tests per year.

bioFILM PA™ is the first diagnostic test to assist physicians in the selection of the most effective combination antibiotic treatment of patients with biofilm-based Pseudomonas aeruginosa infections.

Based on Innovotech's proprietary technology, the company is currently developing companion products to bioFILM PA™ to assist physicians in the selection of the most effective antibiotic treatment for infections caused by both gram-positive and gram-negative bacteria. In a biofilm state, these bacteria are responsible for the majority of all chronic bacterial infections.

Pseudomonas aeruginosa is a common bacterium responsible for many hospital acquired infections including ventilator-associated pneumonia and those found in patients with burns and wounds. It is also one of the major causes of lung infections in individuals with Cystic Fibrosis.

Over eighty percent of microbial infections in the body are caused by organisms in a biofilm state. Biofilm infections are known to be up to 1,000 times more resistant to antibiotics than the same organism in a free-floating state, which demonstrates why it is so critical to identify effective treatments early, such as through the bioFILM PA™ test.

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 biofilmsBiofilms are responsible for a host of diseases both in human health and agriculture due to their inherent resistance to existing antibiotics and disinfectants. There are currently no antibiotics, disinfectants, diagnostics or regulatory standards designed specifically for biofilm-forming organisms.

Innovotech currently has one commercial product, bioFILM PA™, and one product, Agress®, in advanced stages of development. 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 and Agress® is a unique, environmentally friendly seed treatment and plant spray designed to protect crops against both bacterial and fungal infections.

About LevPharm Ltd.

LevPharm Ltd. is a privately owned Israeli pharmaceutical company focusing on marketing and distribution of pharmaceuticals and medical devices primarily in the area of pulmonary and CNS diseases Through their long experience in this market, the professionals at LevPharm focus on building relationships with clinicians and institutions nation-wide. LevPharm currently represents international pharmaceutical and medical device firms in Israel and is actively seeking to expand this portfolio .www.

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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