Kane Biotech Announces New Chief Financial Officer

WINNIPEG, Manitoba, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) today announced the appointment of Ray Dupuis as Chief Financial Officer.

Mr. Dupuis has more than 25 years of financial leadership experience across a broad range of industries including 15 years at Cangene Corporation, a former Canadian TSX-traded biotechnology company, where he progressed to the role of Senior Director of Finance as the company grew from $12 million in revenue to almost $240 million.  Most recently, he was the Chief Financial Officer at Seccuris, an information technology security company acquired by Hitachi. Mr. Dupuis is a Chartered Professional Accountant (CPA, CGA) and possesses Bachelor of Science (Biology) and Master of Business Administration (Finance) degrees.

In his CFO role, Mr. Dupuis will be working closely with the senior management team and the Board of Directors in providing all aspects of financial and administration leadership in support of driving revenue, profit and shareholder value.

“The Board of Directors and I are delighted to welcome Ray to our executive leadership team as our new CFO at this important juncture in the development of our Company. He brings considerable financial acumen, public company biotech experience, and strategic skills to Kane Biotech which will be important assets as we move forward with our growth plans,” said Mark Ahrens-Townsend, President and CEO.

“The Board and I wish to thank Ms. Kelly de Groot who served as Kane Biotech’s interim CFO,” continued Mark Ahrens-Townsend. “Kelly stepped in on short notice providing financial continuity for the Company and publishing the year end and two quarter end statements over a 5-month period.  We appreciated her efforts very much.”

About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms.

The Corporation has a portfolio of biotechnologies, intellectual property (70 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc.   The Corporation is listed on the TSX Venture Exchange under the symbol "KNE".

For more information, please visit www.kanebiotech.com or contact:
Mark Ahrens-Townsend
President & CEO                
Kane Biotech Inc.
204-477-7592                       ir@kanebiotech.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Released September 5, 2017