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NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: INNOVOTECH INC. TSX VENTURE SYMBOL: IOT NOVEMBER 3, 2004 - 17:26 ET Innovotech Inc: MBEC BioProducts Inc. Announces Patent Filing for Anti-Biofilm Product EDMONTON, ALBERTA--(CCNMatthews - Nov. 3, 2004) - Innovotech Inc. is pleased to announce that it has filed for a patent through its wholly owned subsidiary, MBEC BioProducts Inc., for a substance with anti-biofilm activity to treat post-harvest crop diseases. The immediate application of this product will be as a preservative for cut flowers. The composition appears to work by preventing or diminishing the growth of biofilms that block water conducting vessels in the plant stem, thereby increasing the life span of the flower. It is estimated that the sale of cut flowers represents a $9 billion industry worldwide. A high percentage of flower losses at all levels of the floral distribution chain is due to pre-mature death of plants. By reducing flower death, the economics of the industry are improved, including the consumer's perception of value. MBEC BioProducts Inc. is in discussions with floral distributors about partnerships to commercialize this product. Initial research conducted by MBEC BioProducts Inc. has shown an increase in the life span of cut flowers during experimentation of between 20% and 95% under a variety of test conditions. Drs. Merle Olson and Lyriam Marques, research scientists at MBEC BioProducts Inc., will lead further research in treatments for other post-harvest crop diseases. These include potato ring rot, fusarium infestations in seeds and Pierce's disease, all of which have a significant impact on agricultural economics. Innovotech Inc. is a public company focused on acquiring novel technologies or promising technology based companies with an existing or imminent revenue stream. In addition to financial investment in these technologies, Innovotech Inc. provides management and technology commercialization expertise. -30-FOR FURTHER INFORMATION PLEASE CONTACT:
Innovotech Inc
Dr Gerard Tertzakian
CEO
(780) 448-0585
(780) 424-0941 (FAX)
or
MBEC BioProducts
Ken Boutilier
President
(780) 425-7717
(780) 424-0941 (FAX)
Website: www.mbec.ca
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or accuracy of this release.