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NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: INNOVOTECH INC. TSX VENTURE SYMBOL: IOT JULY 8, 2004 - 17:36 ET Innovotech Inc. Completes its Acquisition of MBEC BioProducts Inc. EDMONTON, ALBERTA--(CCNMatthews - Jul 8, 2004) - Innovotech Inc. ("Innovotech") is pleased to announce the completion of its Qualifying Transaction with the acquisition of MBEC BioProducts Inc. ("MBEC") (www.mbec.ca) effective July 2, 2004. Innovotech Board Chairman, Dr. Gerard Tertzakian declared, "the acquisition of MBEC BioProducts represents a tremendous opportunity to build on MBEC's current strong revenue while maintaining an aggressive R&D program aimed at the discovery of new drugs and biocides effective against microbial biofilms". MBEC is a company that specializes in the assessment and eradication of microbial biofilms. Microbial biofilms are the leading cause of most chronic human infections. Biofouling problems found in industry, agriculture and animal husbandry are also mainly the result of microbial biofilm formation. MBEC develops products and conducts contract research towards the prevention and eradication of these serious and costly problems. The MBEC Assay( is a patented accurate and high-throughput screening system for in vitro growth of biofilms and subsequent testing of their susceptibility to antibiotics and biocides. It has application with pharmaceutical and biocide manufacturers in the discovery of new compounds, and in research. MBEC BioProducts possesses an exclusive license to this technology through University Technologies International (UTI) and the University of Calgary. The Assay is available for commercial sale through the MBEC website (www.mbec.ca). The company also conducts contract research for the world's leading manufacturers of catheters and other implanted medical devices. As well, MBEC contracts with other industries affected by microbial biofilms including the aviation industry, municipal water systems, health regions, dental supply companies and wound healing companies. Its laboratory utilizes both in vitro and in vivo (animal) models in answering research and development questions for these clients. Furthermore, MBEC BioProducts can conduct this research under Good Laboratory Practice (GLP) conditions, a requirement for submission of results/claims to regulatory agencies (FDA, Health Canada). This activity, in addition to sales of the MBEC Device, provides MBEC with a viable ongoing business, with attractive cash flow. The Centers of Disease Control and Prevention have stated that "Biofilms are the prominent life form of microorganisms and account for greater than 60% of human infections and virtually all chronic, recurrent, and implanted device associated infections" (CDC, 2000). Biofilms, by nature, possess a high degree of resistance to antibiotics and biocides making infections and infestations difficult to treat. In many cases, microbes in a biofilm state can be up to 1,000 times more resistant to antibiotics and biocides than the very same bacteria in a "free-floating" or planktonic state. This is significant, in that all currently available antibiotics and biocides were tested against "free-floating" or planktonic microorganisms. All current laboratory diagnostic testing for antibiotic susceptibility also test against the same planktonic microbes. If the organism is in a biofilm state, which is common according to the CDC, then a treatment failure may result. The Research & Development program of MBEC is led by Drs. Howard Ceri, Merle Olson, and Doug Storey, world recognized experts in microbial biofilms. It is directed at developing products and devices for the improved treatment of human medical and other biofilm conditions acknowledging that current development and treatment approaches are inadequate. The MBEC( Assay is the platform technology that facilitates this more appropriate testing to occur. It is a breakthrough in that it allows standardized and reproducible growth of microbial biofilms for subsequent susceptibility screening with drug or biocide candidate molecules. -30-FOR FURTHER INFORMATION PLEASE CONTACT:
Innovotech Inc.
Dr. Gerard Tertzakian
Chairman
(780) 448-0585
(780) 424-0941 (FAX)
or
MBEC BioProducts Inc.
Ken Boutilier
President
(780) 452-8687
(780) 452-8807 (FAX)
Website: www.mbec.ca
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adequacy or accuracy of this release.