Innovotech Inc. (TSX VENTURE:IOT) today announced its audited financial and
operational results for the year ended December 31, 2008.


Highlights:

- Key development milestones met for healthcare and agricultural products.

- Planned higher R&D expenditure and weaker demand for contract research
services in last quarter result in an increased net loss for the year.


- Strong capital position to finance commercialization of two lead products.

"Budgeted R&D expenses increased significantly in 2008 as Innovotech
successfully achieved milestones for the commercialization of its lead products"
said Dr. James Timourian, Chief Financial Officer. "Although weaker demand for
contract research services in the final quarter of 2008 combined with the
planned R&D expenses increased the net loss over 2007, Innovotech is in a strong
financial position to support the final stages needed to bring two significant
products, bioFILM PA(TM) (for human health) and Agress(TM) (for agriculture) to
market."


bioFILM PA(TM) entered an important post-market evaluation by the Cystic
Fibrosis (CF) clinics of the Hospital for Sick Children and St. Michael's
Hospital in Toronto. This milestone was followed closely by an introductory
trial of bioFILM PA(TM) at 12 Canadian CF clinics representing over 50% of the
Canadian CF population.


Agress(TM) has captured the attention of the worldwide agriculture community
with several leading multinational companies currently reviewing the Agress(TM)
data package or conducting their own evaluation trials.




Financial Summary

----------------------------------------------------------------------------
                                           Year ended            Year ended 
                                    December 31, 2008,    December 31, 2007,
                                                    $                     $
----------------------------------------------------------------------------
Revenues                                    1,164,035             1,364,780
----------------------------------------------------------------------------
G&A                                           909,588               814,654
----------------------------------------------------------------------------
R&D                                           708,007               437,233
----------------------------------------------------------------------------
Net Loss                                     (942,141)             (120,644)
----------------------------------------------------------------------------
Share Price (TSX-V symbol - IOT)                 0.84                  0.87
----------------------------------------------------------------------------
Cash Position                               2,120,859             1,900,287
----------------------------------------------------------------------------



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.


This document may contain forward-looking statements that are predictive in
nature and subject to risks and uncertainties that cannot be predicted or
quantified; consequently, actual results may differ materially from past results
and those expressed or implied by any forward-looking statements. Factors that
could cause or contribute to such risks or uncertainties include, but are not
limited to: the regulatory environment including the difficulty of predicting
regulatory outcomes; changes in the value of the Canadian dollar; the Company's
reliance on a small number of customers including government organizations;
fluctuations in operating results; government policies or actions; progress and
cost of clinical trials; reliance on key strategic relationships; uncertainty
related to intellectual property protection and potential costs associated with
its defense; the Company's exposure to lawsuits and other matters beyond the
control of management. Should known or unknown risks or uncertainties
materialize, or should management's assumptions prove inaccurate, actual results
could vary materially from those anticipated. The Company undertakes no
obligation to publicly make or update any forward-looking statements, except as
required by applicable law.
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