(TheNewswire)
Edmonton, Alberta, February 3, 2025 – TheNewswire -Innovotech Inc. (TSX-V: IOT) (“Innovotech” or the “Company”) has added new laboratory space, is recruiting additional staff and is installing new equipment to meet strong client demand into 2025 and beyond.
“These investments are required to meet the increased size and sophistication of our contract research projects,” said Craig Milne, CEO. “We have been listening to rising client demands and seeing new opportunities for our services which has led us to transform our operations.”
The additional space is located in a building adjacent to Innovotech’s prime laboratories and offices. It adds an additional 1,390 square feet of microbiology laboratory and office space. Combined with Keystone Labs’ facility, the Company now boasts 13,089 square feet of space for operations.
The Company is expanding its team by 25% by the end of the first quarter, 2025.
The Company has also invested in new equipment to support more client projects. These include a large capacity incubator for microbiology, additional biosafety cabinets and other support equipment for Innovotech Labs. At Keystone Labs, an additional high-performance liquid chromatography (HPLC) system was installed to double productive output, and a new large capacity stability chamber is awaiting installation and certification.
About Innovotech:
Innovotech Inc. is a diversified Canadian technology company with business operations in a growing portfolio of specialized laboratory services, biotechnology businesses, and proprietary intellectual property. Innovotech Inc. manages several subsidiary companies. Innovotech Labs Corporation is a contract research organization that owns and provides proprietary devices for antimicrobial testing in multiple applications and commercializes antimicrobial silver solutions. Learn more at www.innovotech.ca. Keystone Labs Inc. is a DEL-accredited lab serving the Canadian pharmaceutical industry and industrial markets. Learn more at www.keystonelabs.ca. Innovotech Inc. owns a 60% stake in NouLifeSciences Inc., a company holding intellectual property related to antioxidant molecules with potential applications in cosmetics and various medical conditions including neuropathies.
Craig Milne, CEO Innovotech Inc.
+1-604-239-1819 craig.milne@innovotech.ca
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 the 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.
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