Edmonton - TheNewswire - January 21, 2022 - Innovotech Inc. (TSXV:IOT), a pioneer in the field of biofilm product development, today reported that the Material Transfer and Collaboration Agreement with a global medical device company, announced on July 14, 2020, for Innovotech’s InnovoSIL™-1 silver periodate antimicrobial compound, has been terminated.
InnovoSIL™-1 antimicrobial silver’s performance in terms of biocompatibility and antimicrobial activity was not a factor in the termination of the Agreement.
InnovoSIL™-1 antimicrobial silver continues to show outstanding antimicrobial performance, demonstrating anti-adherent and antibiofilm properties under a variety of challenging test conditions. Innovotech is presently working with three industry collaborators who are pursuing a variety of applications for InnovoSIL™-1 antimicrobial silver and expects to sign a Material Transfer Agreement with a fourth collaboration partner in the next few days.
About InnovoSIL™-1 Antimicrobial Silver
InnovoSIL™-1 antimicrobial silver possesses exceptional properties for efficacy against microbial biofilms as well as simplicity for coating onto or incorporating into medical devices, with favorable release characteristics. The unique structure around the silver present in the anion slows its inactivation by bodily fluids. Combining silver and iodine increases antimicrobial mechanisms of action, reducing the likelihood of a target developing resistance to it. InnovoSIL™-1 antimicrobial silver has demonstrated excellent stability under a wide variety of challenges and can be easily synthesized with high purity in a form that is simple to deposit onto metals or incorporate into wound dressings, gels, or polymers.
Innovotech is a Canadian biotechnology company owning proprietary intellectual property, conducting contract research, and owning and providing proprietary devices for testing in multiple applications in microbiology. Innovotech can be found online at www.innovotech.ca.
Alan C. Savage
Director & CFO
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