Business
Approval of Innovotech Acquisition of a 60% Interest in Nou Life Sciences Inc.
(TheNewswire) Edmonton - TheNewswire - January 19, 2021 - Inn...
About this update from Innovotech Inc.
[{"type":"text","content":"Approval of Innovotech Acquisition of a 60% Interest in Nou Life Sciences Inc.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Edmonton -\n \n \n TheNewswire -\n \n \n January 19, 2021 - Innovotech Inc. (\n \n \n TSXV:\n \n \n IOT\n \n \n )\n \n \n (\n \n \n the “Company”) has received\nTSX Venture Exchange approval for its transaction announced August 18,\n2020, to acquire the right, but not the obligation, to earn a 60%\nundivided equity interest in Nou Life Sciences Inc. (“Nou Life”)\nin return for completing an investment of $100,000 in development\nexpenses in Nou Life’s patented skin treatment technology.\n \n \n \n \n The transaction allows Innovotech to take up to two\nyears to evaluate the technology, which rests on the linking of alpha\nlipoic acid and L-carnitine.  Both are well-known antioxidants that\nhave applications in health care.  Linked into one molecule, it is\npostulated that they may carry their antioxidant benefits more deeply\nto subdermal cells than is the case with current technology in skin\ncare.\n \n \n \n \n “We are pleased that we have the final approval for\na transaction that enables the Company to tightly control the pace and\nextent of its investment, in a manner that reduces the inherent risk\nin developing new technology.” said Dr. James Timourian, President\nof Innovotech.\n \n \n \n \n J\n \n \n ames G. Timourian\n \n \n \n \n President & Director\n \n \n \n \n Innovotech Inc.\n \n \n \n \n This document may contain\nforward-looking statements that are predictive in nature and subject\nto risks and uncertainties that cannot be predicted or quantified;\nconsequently, actual results may differ materially from past results\nand those expressed or implied by any forward-looking statements.\nFactors that could cause or contribute to such risks or uncertainties\ninclude, but are not limited to: the regulatory environment including\nthe difficulty of predicting regulatory outcomes; changes in the value\nof the Canadian dollar; the Company’s reliance on a small number of\ncustomers including government organizations; fluctuations in\noperating results; government policies or actions; progress and cost\nof clinical trials; reliance on key strategic relationships;\nuncertainty related to intellectual property prot...