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Invitro International's (IVRO) proprietary technology replaces the need to use live animal testing of potential dermal and ocular irritants in cosmetics, personal care products and chemicals (industrial and fine). IVRO is one of three companies that offers commercial technology internationally for non animal testing. IVRO is the "only" company with formal Government approved technology (CORROSITEX). IVRO has Global offices and/or agents in U.K., EIRE., France, Spain, Portugal, Belgium, Italy, Germany, Japan, Korea, and throughout Asia. The Inter-agency Committee for the Validation of Alternative Methods held a one day review January 21, 1999 to consider extending IVRO's Corrositex applications and acceptances beyond current DOT and EPA regulated areas. The company expects to receive a final report in later 1999. CORROSITEX is IVRO's approved Department of Transportation (DOT) corrosivity test, which in less than 4 hours, permits assignment of United Nations (U.N.) Packing Group classifications I, II, III or Non-Corrosive for Class 8 Corrosives. CORROSITEX costs industry users about 40% as much as animal testing and gives results in about one tenth the time. CORROSITEX is accepted by EPA, IATA, Transport Canada and OSHA. On Friday, June 13, 1997, the U.S. Environmental Protection Agency (EPA) issued the final approval for CORROSITEX in the Federal Register as Solid Waste Method 1120. This method lists CORROSITEX as an approved test for characterizing dermal corrosivity for solid waste (40 CFR Parts 260, 264, 265, and 266). Some of the companies that currently use IVRO's exclusive IRRITECTION assay system include Aldrich Chemical Co., Sigma-Aldrich Corp (Nasdaq: SIAL), Amway Corp., Revlon (REV), The Body Shop (BDSPY), and Levi Strauss. The IRRITECTION assay system detects, predicts and ranks ocular and dermal irritation in raw materials, formulations, industrial chemicals, petrochemicals, surfactants, textiles, and cosmetics. IRRITECTION can be a partial or complete replacement for costly time-consuming *IN VIVO test methods. IRRITECTION offers greater accuracy and reproducibility, while helping to avoid the controversy often associated with needless animal testing. * IN VIVO is a test method that uses live organisms such as animals. * INVITRO is a test method that uses a non-living environment. Increased revenues last 6 quarters with growing profits and cash flow. Company has NO DEBT CORROSITEX test method is FDA, OSHA, DOT, EPA and IATA approved. U.K. banned use of animals as of November 1998 for testing of cosmetic products. Company is authorized to issue 40 million shares Shares Outstanding - 14,023,300 Shares in Float - around 8-10 million 229 registered shareholders as of April 1998. invitrointl.com | ||||||||||||||
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