Kane Biotech Announces Joint Development Agreement and Channel Expansion
WINNIPEG, MANITOBA -- (Marketwired) -- 05/13/15 -- Kane Biotech Inc. (TSX VENTURE:KNE), is a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms. The Company's current focus is on the animal oral care market.
Kane Biotech is pleased to announce it has signed a joint development agreement with a global animal health company. Initial revenue from the agreement of $100,000 USD will be included in the Company's second quarter financial statements.
"This opportunity has great potential for Kane Biotech. Industry leading partners that can provide Kane with global market access are key to the long term value of our Company," commented Mark Ahrens-Townsend, President and CEO. "I'm personally very excited and optimistic about the opportunity in front of us."
Terms of the agreement are confidential.
Channel Expansion:
In February Kane Biotech introduced its oral care technology into the Canadian pet specialty market under the brand name bluestem™. It had previously introduced the StrixNB™ brand for the veterinary market. bluestem is a specifically formulated oral care product that contains the Company's patent pending coactiv+™ technology.
At this date there are now 177 veterinary clinics across Canada carrying StrixNB. Kane Biotech has appointed Pan Pacific Pet for Western Canada and Pet Science for Eastern Canada as our bluestem distribution partners to service the Canadian pet specialty market. Since late Q1 50 pet specialty retailers from British Columbia to Quebec are now carrying bluestem with more pet specialty retail locations being added each month.
In follow on to the bluestem oral care water additive products, bluestem oral spray has now been added to the product family. More information on bluestem can be found at www.bluestempets.com.
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the development and commercialization of products that prevent and remove biofilms. Biofilms develop when bacteria and other microorganisms form a protective matrix that acts as a shield against attack. When in a biofilm, bacteria become highly resistant to antibiotics, biocides, disinfectants, high temperatures and host immune responses. This resiliency contributes to human health problems such as recurrent urinary tract infections, medical device associated infections and tooth decay.
Kane Biotech uses patent protected technologies based on molecular mechanisms of biofilm formation/dispersal and methods for finding compounds that inhibit or disrupt biofilms. The Company has evidence that these technologies have potential to significantly improve the ability to prevent and/or destroy biofilms in several medical and industrial applications.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: Kane's early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Kane's filings with Canadian securities regulatory authorities, as well as Kane's ability to anticipate and manage the risks associated with the foregoing. Kane cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Kane's forward-looking statements to make decisions with respect to Kane, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Kane cannot provide assurance that actual results will be consistent with these forward-looking statements. Kane undertakes no obligation to update or revise any forward-looking statement.
StrixNB™, DispersinB®,Aledex®, bluestem™ and coactiv+™ are registered trademarks of Kane Biotech Inc. All Rights Reserved 2015
Kane Biotech Inc.
Mark Ahrens-Townsend
President & CEO
204-477-7592
204-474-7552 (FAX)
ir@kanebiotech.com
www.kanebiotech.com
Source: Kane Biotech Inc.
Released May 13, 2015