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"The results from the study clearly demonstrate that Agress(TM) performs at least as well as, and in some cases far superior to Agricultural Streptomycin in providing disease control in the pulse crops tested," says Damian Sowa, Product Manager, Innovotech. "It is well known that governments around the world have concerns regarding Agricultural Streptomycin because of the build-up of bacterial resistance. Our studies have shown that Agress(TM) can an effective replacement for Streptomycin. Innovotech has already initiated studies of other plant diseases such as fire blight, where the use of Agricultural Streptomycin is currently the product of choice."
Innovotech anticipates regulatory approval for Agress(TM) in Canada and the United States in mid to late 2009, permitting product availability for the 2010 crop season. Research is currently underway to expand the claims of Agress(TM) to major crops in North America and additional disease classes.
Forward Looking Statements
Except for the statements of historical fact relating to the Company this press release may contain certain statements which constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements related to Innovotech's product development programs to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as "may", "will", "intend", "should", "expect", "believe", "plan", "anticipate", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. They should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors which could cause actual results to differ materially from the results discussed in the forward-looking statements 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 and other required testing; 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 actual results could vary materially from those anticipated. Specifically, such statements include statements regarding the capability of Innovotech's product Agress(TM) to replace Streptomycin as a seed treatment. There can be no assurance that the Company will receive regulatory approval for the sale of Agress(TM) or be successful in demonstrating that Agress(TM) is effective in treating fire blight or diseases in plants other than those already tested. Innovotech does not assume any obligation to update or revise the statements contained herein to reflect new events or circumstances, except as required by applicable securities legislation.
About Innovotech Inc:
Innovotech is a product development company focusing on the development of solutions to medical, agricultural and industrial problems caused by microbial biofilms. Biofilms are protected communities of microorganisms which are very common and very difficult to treat due to their inherent resistance. They have been implicated in a host of devastating infections in agriculture, human health and industry. No diagnostics or antibiotics are currently approved for use in infections involving biofilms.
SOURCE: Innovotech Inc.
Innovotech Inc. Wolfgang Muhs Chairman of the Board & CEO (780) 448-0585 ext 226 (780) 424-0941 (FAX) Email: wolfgang.muhs@innovotech.ca Innovotech Inc. Ken Boutilier President (780) 448-0585 ext 221 (780) 424-0941 (FAX) Email: ken.boutilier@innovotech.ca Website: www.innovotech.ca
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