Kane Biotech Announces Departure of CEO
WINNIPEG, Manitoba, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE, OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”) today announced that Mark Ahrens-Townsend has departed from the Company as Chief Executive Officer as of September 10, 2018. Mark will remain close to the Company and continue to work as an advisor.
Marc Edwards, Director of Kane Biotech, is appointed as Interim CEO in addition to his current position on the Board of Directors. Mr. Edwards is a pharmaceutical industry veteran with wide-ranging experience in Canada and international business markets.
“Through Mark’s dedication and leadership, we have built a strong foundation for future growth. Kane Biotech has a number of strategic initiatives in the works that employ its intellectual property patents to prevent and remove microbial biofilms, spanning a broad range of applications. It is important that Kane Biotech increasingly shift its focus to cementing commercial contracts with higher-value applications of the IP, such as human health. We wish Mark well on his departure and future endeavours,” commented Mr. Edwards.
The Board is thankful for Mark Ahrens-Townsend’s years of service and leadership to Kane Biotech.
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 (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:
Ray Dupuis
Chief Financial Officer
Kane Biotech Inc.
+1 (204) 298-2200 ir@kanebiotech.com
Tirth Patel
Vice President - Investor Relations
Edison Advisors
+1 (646) 653-7035 tpatel@edisongroup.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.
Caution Regarding Forward-Looking Information
This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities laws. These statements reflect management’s current beliefs and are based on information currently available to management. Forward-looking statements in this press release include statements relating to the services to be provided by VLP to the Corporation and the terms and conditions of the written agreement to be entered into between the parties. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risk that the services to be provided by VLP will differ from those set out in the agreement to be entered into between the parties and the risk that the parties may not enter into a written agreement. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive.
These risks and uncertainties should be considered carefully and 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 Corporation cannot provide assurance that actual results will be consistent with these forward-looking statements. The Corporation undertakes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws.
Released September 11, 2018