CLEVELAND, Aug. 13, 2018 (GLOBE NEWSWIRE) — Innovest Global Inc. (OTC Markets: IVST) (the “Company” or “Innovest”), a Conglomerate with operations in commercial and industrial products and services, and biotechnology, today announced notable financial progress, and having launched its Biotechnology & Health Services Division with significant achievements.
The Innovest Biotech Division launched with the acquisition of a twenty percent stake in StemVax Therapeutics, and with the news that the primary technology for the StemVax brain tumor vaccine had been granted patent approval after a nine year filing process. Immediately following this news, StemVax was granted exclusive worldwide rights from Cedars-Sinai Medical Center to this patent and three other technologies it will now use in its efforts to commercialize the vaccine.
Other notable July events include:
- Winslow Asset Management, the first institutional investor in Innovest Global, filed showing that they remain long shareholder
- First half 2018 revenue growth 55.8%
- Current assets of $877,861
- Cash balance of $561,062
- Unchanged free-trading float of 11,796,710 common shares
- No convertible debts, no warrants or options outstanding
- Headcount is now 44 employees
- Stock performance up 930% on the year (as of Friday August 10th, 2018 close).
- Commercial & Industrial Division generated July monthly revenue of $351,763
- The previously announced $650K+ Fortune 500 contract for providing call center services to Byram Healthcare Division was fully implemented, team trained and operational; “The Innovest team is highly professional, does an incredible job for us at the right price, and takes our business as seriously as we do,” said Perry Bernocchi, Chief Executive Officer of Byram Healthcare. “To our customers, they are part of the Byram team, and they’ve proven we can rely on them to be a proud part of our family.”
- Advanced an acquisition initiative on a top priority target, kept others in discussion, and finalized our second half plan
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Innovest Global utilizes novel technology and marketing to efficiently acquire customers. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, and a Biotechnology & Health Services Division.
More about StemVax Therapeutics:
StemVax Therapeutics is a Translational Biotechnology Company that develops novel therapies for brain tumor patients. We focus our efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a devastating brain cancer. We also focus our research efforts on novel drug development to target Cancer Stem cells and other multi-resistant cancer cells. We seek to make a difference in patient’s lives. Bringing new beginnings to the market by developing novel therapeutics. Dr. Dwain Morris-Irvin, President of Innovest’s Biotech division is the StemVax founder and Chief Science Officer.
Cedars-Sinai Medical Center is a non-profit hospital and academic health science center located in Los Angeles, California. They employ over 2,000 physicians and are considered one of the top hospitals and research organizations in the world. Dr. Irvin previously was one of their key contributors in the areas of research that he founded StemVax to pursue.
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