Mr. Alan Savage reports

TERMINATION OF COLLABORATION AGREEMENT FOR INNOVOSIL(TM)-1 ANTIMICROBIAL SILVER

Innovotech Inc. is facing the termination of its material transfer and collaboration agreement with a global medical device company, announced on July 14, 2020, for Innovotech's InnovoSIL-1 silver periodate anti-microbial compound.

InnovoSIL-1 anti-microbial silver's performance in terms of biocompatibility and anti-microbial activity was not a factor in the termination of the agreement.

InnovoSIL-1 anti-microbial silver continues to show outstanding anti-microbial performance, demonstrating anti-adherent and anti-biofilm 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 anti-microbial silver and expects to sign a material transfer agreement with a fourth collaboration partner in the next few days.

About InnovoSIL-1 anti-microbial silver

InnovoSIL-1 anti-microbial silver possesses exceptional properties for efficacy against microbial biofilms as well as simplicity for coating onto or incorporating into medical devices, with favourable release characteristics. The unique structure around the silver present in the anion slows its inactivation by bodily fluids. Combining silver and iodine increases anti-microbial mechanisms of action, reducing the likelihood of a target developing resistance to it. InnovoSIL-1 anti-microbial 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.

About Innovotech Inc.

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.

We seek Safe Harbor.