Edmonton, Alberta, September 11th, 2024 – Innovotech Inc. (TSX-V: IOT) (“Innovotech”, or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) to acquire Keystone Labs Inc. (“Keystone”), a privately held, independent contracttesting laboratory, located in Edmonton, Alberta, specializing in quality testing for regulated industries.
Keystone was founded in 2005 by Ms. Jodi McDonald and provides a suite of analytical and microbiological services to pharmaceutical, biotechnological, medical device and natural health product industries. Keystone holds a drug establishment license from Health Canada, enabling the testing of regulated products including those in the pharmaceutical manufacturing supply chain.
The acquisition builds on Innovotech’s recent investments for increasing its productive capacity for contract research, renewing efforts to commercialize its patented InnovoSIL-1™ antimicrobial silver compound, and acquiring a controlling interest in NouLife Sciences Inc. that occurred in August 2023. A further comprehensive press release will be issued upon the signing of a definitive agreement with respect to the Keystone acquisition.
