Placentia, California–(Newsfile Corp. – March 30, 2022) – InVitro International (OTC PINK: IVRO), a 30+ year leader in providing non-animal testing methods, today announced it has completed the re-purchase of 100,000 shares of its common stock. The terms of this transaction were negotiated in December 2021 with a long-term shareholder.
IVRO President, Atul Jhalani, said “I believe our decision reflects IVRO management’s continuing strong belief in the future of NON-Animal testing; worthy of special note, just recently “The Humane Cosmetics Act of 2021″ arrived on the floor of the U.S. Congress after many years in Committee. So, our demonstrated enthusiasm is added to that of millions of animal welfare supporters here and around the world. Looking forward, it seems very reasonable to envision in vitro tests increasingly replacing the use of animals. In addition to faster, lower cost safety testing results, more companies now will be able to add kindness to animals as a side benefit of any new formulations.”
Chairman and CEO, W. Richard Ulmer, added: “Today we follow a FY ’21 stated intention to share more of what and how we do things at InVitro International. A first step in the above transaction required our IVRO Board of Directors to agree that the purchase of these 100,000 shares was a timely and prudent investment, given our cash-rich balance sheet. Next, we required our auditor’s pronouncement that these shares when re-purchased remain authorized for issuance. This provided us with confidence that we could find future ways to use them to the benefit of all shareholders. Finally, the purchase was consummated this month.”
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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.
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