Innovotech Extends Private Placement to Support New Healthcare Product

Subsequent to its private placement announcement of December 4, 2012, Innovotech
Inc. (TSX VENTURE:IOT) has requested and received approval from the TSX Venture
Exchange to extend this placement until February 4, 2013. The funds will support
the introduction of InnovoSIL(TM), its novel antimicrobial technology to address
hospital-acquired infections (HAI). 


HAI's cause 99,000 fatalities annually in the US, at a cost of $33 billion to
the healthcare system. The primary cause is attributed to the use of medical
devices particularly blood and urinary catheters and tubes to assist breathing.


Innovotech is developing InnovoSIL(TM) as a novel antimicrobial compound that
possesses unique properties making it an ideal candidate for coating medical
devices to control HAI's. 


Innovotech is very familiar with this field as its contract research business
develops scientific studies for medical device companies to support claims for
antimicrobial coatings. The company has Material Transfer Agreements in place
with three companies that have expressed interest in the compound.


The offering, subject to regulatory approval, is comprised of up to 1,666,667
units ("Units") at a price of $0.30 per Unit for gross proceeds of up to
$500,000 by way of a private placement (the "Offering"). Each Unit is comprised
of one (1) common share ("Common Share") and one (1) Common Share purchase
warrant ("Warrant"). Each Warrant entitles the holder to purchase one (1)
additional Common Share at a price of $0.40 per Common Share for a period of
three (3) years following the date of closing. 


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 organized
communities of microorganisms that exist in virtually every natural environment
and are responsible for a host of diseases in human health, animal health and
agriculture. There are few products or regulatory standards, aside from those of
Innovotech, designed specifically for biofilm-forming organisms. 


Innovotech has a broad range of products that address the issue of biofilms
within a number of different industries, including commercially available
products in a variety of market segments; the MBEC Assay(TM), InnovoSIL(TM),
bioFILM PA(TM) InnovoSCEPT-Human and InnovoSCEPT-Veterinary tests. The MBEC
Assay(TM) is a high throughput biofilm growth device that was recently approved
as an ASTM International standard. InnovoSIL(TM) is a family of silver-based
antimicrobials promising superior performance for medical device coatings,
bioFILM PA(TM) and InnovoSCEPT-Human are the first diagnostic tests to assist
physicians in the selection of the most effective antibiotic treatment for
patients with biofilm-based chronic infections, while the InnovoSCEPT veterinary
tests are designed to determine the most effective antibiotic treatment for
chronic infections in both large and small animals. 


Agress(R) is a unique, environmentally friendly seed treatment and plant spray
designed to protect crops against both bacterial and fungal infections. It is
entering the regulatory approval stage.


Website: www.innovotech.ca

Blog: www.cf-test.ca

Twitter: www.twitter.com/innovotech

Facebook: www.facebook.com/innovotech

FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovotech Inc.
Ken Boutilier
President and CEO
[phone] ext. 221
[phone] (FAX)
[e-mail]
www.innovotech.ca