IOT Innovotech Inc

Innovotech Inc. (TSX VENTURE:IOT) today announced its unaudited financial and
operational results for the three month period ended March 31, 2008.


Highlights

- Revenue almost doubled in the First Quarter 2008, compared to same period in
previous year.


- Increase in cash reserves to support continued development of seed treatment
product, Agress(TM).


"With increased revenue from Contract Research, Innovotech was able to
significantly reduce the operational loss for the Quarter compared to the same
period in 2007, although this fact is hidden by an expense in the current period
attributable to stock options granted to employees and directors ($74,443 in Q1
2008 compared to $4,333 in Q1 2007). In addition, the cash reserves of the
Company improved to over $ 2.1 M through the exercise of options and warrants
($418,570 in Q1 2008 compared to $0 in Q1 2007), which will support the
continued development of Agress(TM)," said James Timourian, Chief Financial
Officer.




Financial Summary

----------------------------------------------------------------------------
                                   Three month period    Three month period
                                 ended March 31, 2008  ended March 31, 2007
----------------------------------------------------------------------------
Revenues                                      428,286               222,247
----------------------------------------------------------------------------
G&A                                           241,777               162,873
----------------------------------------------------------------------------
R&D                                           103,406                92,964
----------------------------------------------------------------------------
Net Loss                                      (96,726)              (55,614)
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About Innovotech Inc:

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. No diagnostics or antibiotics are currently approved for use in
infections involving biofilms.


Certain information contained in this document is forward-looking and is subject
to unknown risks or uncertainties. The actual results, performance or
achievements of Innovotech Inc may differ materially from the results,
performance or achievements expressed or implied by such forward-looking
statements.

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