Innovotech's bioFILM PA(TM) Receives Regulatory Approval In Israel
February 03 2011 - 8:00AM
Marketwired
Innovotech Inc. (TSX VENTURE: IOT), a pioneer in the field of
biofilm product development, today announced that LevPharm Ltd. of
Israel has received regulatory approval allowing the company to
commence marketing and distributing Innovotech's bioFILM PA™ test
to hospitals possessing Cystic Fibrosis units within Israel. The
marketing licence is valid for one year and will be extended
subject to clinical outcomes and physician's recommendations
(regular Ministry of Health procedure).
"This is the first approval of bioFILM PA™ outside of Canada and
represents an acceptance of the need for a diagnostic capable of
testing organisms in a biofilm state," said Ken Boutilier,
President and CEO of Innovotech Inc. "It provides an opportunity
for doctors to treat Israeli patients with effective antibiotics
that are tailored to their personal chronic infections. These
patients have the potential to recover more quickly, while saving
the health care system money, and bacteria will have less chance to
develop resistance. Biofilms are the cause of virtually all chronic
bacterial infections and are notoriously hard to eradicate. Use of
biofilm PA™ will result in better treatment choices right from the
start."
The current market capacity in Israel for bioFILM PA™ is
estimated to be over 3,000 tests per year.
bioFILM PA™ is the first diagnostic test to assist physicians in
the selection of the most effective combination antibiotic
treatment of patients with biofilm-based Pseudomonas aeruginosa
infections.
Based on Innovotech's proprietary technology, the company is
currently developing companion products to bioFILM PA™ to assist
physicians in the selection of the most effective antibiotic
treatment for infections caused by both gram-positive and
gram-negative bacteria. In a biofilm state, these bacteria are
responsible for the majority of all chronic bacterial
infections.
Pseudomonas aeruginosa is a common bacterium responsible for
many hospital acquired infections including ventilator-associated
pneumonia and those found in patients with burns and wounds. It is
also one of the major causes of lung infections in individuals with
Cystic Fibrosis.
Over eighty percent of microbial infections in the body are
caused by organisms in a biofilm state. Biofilm infections are
known to be up to 1,000 times more resistant to antibiotics than
the same organism in a free-floating state, which demonstrates why
it is so critical to identify effective treatments early, such as
through the bioFILM PA™ test.
About Innovotech Inc.
Innovotech Inc. is a pioneer in the field of biofilm product
development, focused on providing innovative and practical
solutions to medical, agricultural and industrial problems caused
by microbial biofilms. Biofilms are responsible for a host of
diseases both in human health and agriculture due to their inherent
resistance to existing antibiotics and disinfectants. There are
currently no antibiotics, disinfectants, diagnostics or regulatory
standards designed specifically for biofilm-forming organisms.
Innovotech currently has one commercial product, bioFILM PA™,
and one product, Agress®, in advanced stages of development.
bioFILM PA™ is the first diagnostic kit to assist physicians in the
selection of the most effective combination antibiotic treatment of
patients with biofilm-based chronic lung infections and Agress® is
a unique, environmentally friendly seed treatment and plant spray
designed to protect crops against both bacterial and fungal
infections.
About LevPharm Ltd.
LevPharm Ltd. is a privately owned Israeli pharmaceutical
company focusing on marketing and distribution of pharmaceuticals
and medical devices primarily in the area of pulmonary and CNS
diseases Through their long experience in this market, the
professionals at LevPharm focus on building relationships with
clinicians and institutions nation-wide. LevPharm currently
represents international pharmaceutical and medical device firms in
Israel and is actively seeking to expand this portfolio .www.
levpharm.com
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Innovotech Inc. Ken Boutilier President and CEO (780)
448-0585 ext. 221 (780) 424-0941 (FAX) ken.boutilier@innovotech.ca
Innovotech Inc. Amanda Stadel Communications Officer (780) 448-0585
ext. 224 (780) 424-0941 (FAX) amanda.stadel@innovotech.ca
www.innovotech.ca Connect with us: Website: www.innovotech.ca Blog:
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