Kane Biotech Granted Wound Care Patent from the U.S. Patent and Trademark Office

WINNIPEG, Manitoba, May 31, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (OTCQB:KNBIF) (the “Corporation” or “Kane Biotech”) is pleased to announce it has been granted a significant patent in the area of wound care by the U.S. Patent and Trademark Office (the “USPTO”).  The patent is titled “Antimicrobial-Antibiofilm Compositions And Methods Of Use Thereof”.  The abstract released by the USPTO states, “Compositions comprising chelating agents, metal ion salts, gelling agents or a buffer, antimicrobials, antibiofilm agents, and a pH adjuster or a buffer for the prevention and treatment of wound infections and food-borne diseases involving bacterial biofilms are disclosed.  The anti-infective properties of a composition include reduction or killing of anaerobic/aerobic/facultative gram-negative and gram-positive wound infection associated bacteria occurring in polymicrobial biofilms.  The composition may be in the form of lotion, cream, ointment, dressing, bandage, rinse, soak, gel, spray or other suitable forms, including certain devices.  Additionally, the invention offers an efficient method of delivering the formulated composition containing one or more chelating agents in combination with a metal ion salt using either a nanoparticle or other efficient delivery systems.”

Mark Ahrens-Townsend, President and CEO commented “Granting of this patent by the USPTO is significant in Kane Biotech’s “Strix Wound Care” technology family and is the basis for treatment applications the Corporation is developing for chronic inflammatory skin disorders including, among other diseases and applications, athlete’s foot, atopic dermatitis (eczema), and seborrheic dermatitis (often associated with chronic dandruff).  We’re pleased to have this intellectual property added to Kane Biotech’s portfolio of 75 patents and patents pending.”

Following the issuance of this Press Release, the halt trading order of Kane Biotech’s stock on the TSX Venture Exchange will be lifted and trading resumed. 

About Kane Biotech

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 (75 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" and on the OTCQB Venture Market under the symbol “KNBIF”.

For more information, please visit www.kanebiotech.com or contact:

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.

Caution Regarding Forward-Looking Information

This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities law. 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. These risks and uncertainties include, but are not limited to, risks relating to the Company’s: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its common shares, volatility of the market price of its common shares and public company costs. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at www.sedar.com. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive. 

These risks and uncertainties should be considered carefully undue reliance should not be placed 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, the Company cannot provide assurance that actual results will be consistent with these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement.

Released May 31, 2018