|By Marketwired .||
|January 17, 2014 06:00 AM EST||
EDMONTON, ALBERTA -- (Marketwired) -- 01/17/14 -- Innovotech Inc. (TSX VENTURE: IOT), an innovator focused on providing new and practical solutions to medical, agricultural and industrial problems caused by microbial biofilms, today announced the appointment of Dr. Amin Omar to the new position of General Manager. Mr. Ken Boutilier has stepped down as President and CEO of Innovotech, effective January 1, 2014 and Dr. James Timourian has been appointed to the position of President. Mr. Bruce Hirsche will continue as Secretary and Dr. James Timourian will continue as Chairman of the Board.
"Dr. Amin Omar, with Innovotech since 2007, has been responsible for building Innovotech's outstanding reputation of scientific and regulatory expertise in the field of infection control. We have confidence that the management team we now have in place will successfully lead Innovotech through the coming phases of its development. The Company will continue to focus on expanding its revenue services and developing significant markets for its most promising technologies," said Dr. James Timourian, Chairman of the Board. "We greatly appreciate Ken's service to Innovotech and wish him good fortune in his future endeavors."
About Innovotech Inc:
Innovotech Inc. is an innovator 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 organized communities of microorganisms that exist in virtually every natural environment and are responsible for a host of diseases in human health, animal health and agriculture. There are few products or regulatory standards, aside from those of Innovotech, designed specifically for biofilm-forming organisms.
Innovotech has a range of products that address the issue of biofilms within a number of different industries, including commercially available products in a variety of market segments; the MBEC Assay, InnovoSIL, bioFILM PA, InnovoSCEPT-Human and InnovoSCEPT-Veterinary tests. The MBEC Assay is a high throughput biofilm growth device that is an ASTM International standard. InnovoSIL is a family of silver-based antimicrobials promising superior performance for medical device coatings and wound dressings, bioFILM PA and InnovoSCEPT-Human are the first diagnostic tests to assist physicians in the selection of the most effective antibiotic treatment for patients with biofilm-based chronic infections, while the InnovoSCEPT-Veterinary tests are designed to determine the most effective antibiotic treatment for chronic infections in both large and small animals
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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