IVRO'S Mission To Help Make Non-Animal Testing Famous Now Searches For Strategic Partners

Rhea-AI Summary

InVitro International (OTC PINK:IVRO) announced its pursuit of strategic partnerships through ongoing Letter of Intent discussions. While outcomes remain uncertain, this move aligns with the company’s goal to advance non-animal testing. Following a robust 3rd Quarter of FY 2021, sales surged by 51% compared to the 2nd Quarter, accompanied by a cash reserve increase to $1.3 million. The company specializes in non-animal testing methods, offering technologies with global reach.

Positive

• Sales increased by 51% in Q3 FY 2021 compared to Q2.
• Cash reserves grew to $1.3 million.

Negative

• Future outcomes of partnership discussions are uncertain.

PLACENTIA, CA / ACCESSWIRE / September 1, 2021 / InVitro International (OTC PINK:IVRO) announced today that it has taken a first step in its search for strategic partners. IVRO entered into Letter of Intent (LOI) discussions where, although nothing certain can be forecasted, the Company believes results could be instrumental in furthering IVRO's primary mission to "Help Make Non-Animal Testing Famous". This announcement comes on the heels of an outstanding 3^rd Quarter (June 30) FY 2021, where sales rebounded 51% over 2^nd Quarter, and cash on hand grew to $1.3M.

About InVitro International, Inc.

InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.

This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.

Company Contact:

W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com

SOURCE: InVitro International

View source version on accesswire.com:
https://www.accesswire.com/662200/IVROS-Mission-To-Help-Make-Non-Animal-Testing-Famous-Now-Searches-For-Strategic-Partners

FAQ

What is InVitro International's stock symbol?

InVitro International's stock symbol is IVRO.

What recent financial performance did IVRO report?

IVRO reported a 51% increase in sales for Q3 FY 2021 compared to Q2.

What is IVRO's mission regarding animal testing?

IVRO aims to 'Help Make Non-Animal Testing Famous'.

How much cash does InVitro International currently hold?

InVitro International has cash reserves of $1.3 million.

What risk is associated with IVRO's strategic partnerships?

The outcomes of IVRO's strategic partnership discussions are uncertain.