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Innovotech ( (TSE:IOT) ) has provided an announcement.
Innovotech Inc. is expanding its laboratory space, staff, and equipment to address increasing client demand and enhance its contract research capabilities. This expansion includes adding 1,390 square feet of lab space, increasing staff by 25%, and investing in new equipment like a large capacity incubator and an HPLC system. These strategic moves aim to strengthen Innovotech’s operational capacity and better position the company in the competitive biotech and laboratory services market.
More about Innovotech
Innovotech Inc. is a Canadian technology company with operations in specialized laboratory services, biotechnology, and intellectual property management. It operates several subsidiaries including Innovotech Labs, a contract research organization specializing in antimicrobial testing, and Keystone Labs, a DEL-accredited lab serving the Canadian pharmaceutical industry. Innovotech also holds a 60% stake in NouLifeSciences Inc., which focuses on antioxidant molecules for cosmetic and medical applications.
YTD Price Performance: 22.22%
Average Trading Volume: 13,037
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$10.94M
For a thorough assessment of IOT stock, go to TipRanks’ Stock Analysis page.