Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

Innovotech Signs TREK to Manufacture Key Components of bioFILM PA(TM) Antimicrobial Susceptibility Test

Thu. February 19, 2009; Posted: 08:00 AM
Stocks RSS
EDMONTON, ALBERTA AND CLEVELAND, OHIO, Feb 19, 2009 (Marketwire via COMTEX) -- IOT | Quote | Chart | News | PowerRating -- Innovotech Inc. (TSX VENTURE:IOT), a leader in biofilm products, and TREK Diagnostic Systems, a preeminent provider of diagnostic systems and susceptibility products for microbiology labs, announced that TREK will manufacture key components of Innovotech's novel biofilm susceptibility test at TREK's Cleveland facility. Innovotech is targeting its initial product launch of the bioFILM PA kit to the Canadian infectious-disease market.

Biofilms are estimated to cause more than 80 percent of all human infections and are inherently resistant to antibiotics. Studies show that bacteria in a biofilm may have a greater than 100-fold increase in resistance to antibiotics when compared to the same bacteria in a planktonic (free-floating) state. Biofilms are particularly dangerous for patients with chronic lung infections, such as cystic fibrosis lung disease, and put patients with catheters, stents, and other medical devices at risk of serious infection. They are also implicated in most chronic hospital-borne infections.

Selecting the right drug at a dosage sufficient enough to completely kill the bacteria is key to preventing resistance. Often doctors must prescribe a cocktail of antibiotics to fight biofilm infections effectively, but there are currently no dependable susceptibility tests to assist doctors in selecting appropriate treatments. Innovotech's manual kit bioFILM PA will enable clinicians to test biofilm samples against a combination of existing antibiotics. Early results indicate that bioFILM PA will provide better treatment outcomes for patients, improved infection-control for hospitals, and substantial cost saving to health systems.

"The agreement will support initial production of bioFILM PA(TM) for the Canadian market" says Dr. Bhavin Rawal, Product Manager, Innovotech. "TREK's expertise in diagnostic in vitro susceptibility testing, its successful track record with regulatory agencies, and its commitment to quality manufacturing at its facilities in the US and UK are well known. In the future, we may also draw on TREK's knowledge of the susceptibility market as we explore sales growth outside of Canada and line expansion into other products."

According to TREK's Director of Laboratory Services, Cindy Knapp, this agreement expands TREK's service offerings beyond custom susceptibility plates to large-volume contract manufacturing. She commented, "At TREK, we are well-known for our frozen and dried custom panels for clinical and pharmaceutical customers. Now, we are proud to contribute our expertise in susceptibility-products manufacturing to Innovotech's new bioFILM PA kit. Truly an innovative design, the kit targets an important unmet need in the susceptibility marketplace."

About Innovotech Inc: www.innovotech.ca

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.

About TREK Diagnostic Systems: www.trekds.com

A Magellan Biosciences diagnostics company, TREK is a global manufacturer and distributor of automated systems and consumable products for microbiology-based diagnostic testing designed to improve patient outcomes. Signature product lines include VersaTREK(R), Sensititre(R), Vizion(R), alamarBlue(R), para-JEM(R), YeastOne(R), onSite(R) and TREK Lab Services. TREK is committed to delivering the highest quality products and services to clinical, pharmaceutical, and veterinary diagnostic laboratories worldwide.

This document contains 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.

SOURCE: Innovotech Inc.

Innovotech Inc. Ken Boutilier President (780) 448-0585 ext 221 (780) 424-0941 (FAX) Email: ken.boutilier@innovotech.ca Website: www.innovotech.ca TREK Diagnostic Systems Cindy Knapp Director Lab Service (216) 351-8735 ext 117 (216) 351-5456 (FAX) Email: cknapp@trekds.com Media Contact: Caroline Grossman (781) 771-5579 Email: cgrossman@magellanbio.com Website: www.trekds.com

For full details for IOT click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Most Popular News
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.