Edmonton, Alberta, February 3, 2025 – Innovotech Inc. (TSX-V: IOT) (“Innovotech” or the “Company”) has added new laboratory space, is recruiting additional staff and is installing new equipment to meet strong client demand into 2025 and beyond.
“These investments are required to meet the increased size and sophistication of our contract research projects,” said Craig Milne, CEO. “We have been listening to rising client demands and seeing new opportunities for our services which has led us to transform our operations.”
The additional space is located in a building adjacent to Innovotech’s prime laboratories and offices. It adds an additional 1,390 square feet of microbiology laboratory and office space. Combined with Keystone Labs’ facility, the Company now boasts 13,089 square feet of space for operations.
The Company is expanding its team by 25% by the end of the first quarter, 2025.
The Company has also invested in new equipment to support more client projects. These include a large capacity incubator for microbiology, additional biosafety cabinets and other support equipment for Innovotech Labs. At Keystone Labs, an additional high-performance liquid chromatography (HPLC) system was installed to double productive output, and a new large capacity stability chamber is awaiting installation and certification.
