Kane Biotech Strengthens Team with New Additions in Animal Health and Quality Assurance

WINNIPEG, Manitoba, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane Biotech”), a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms, today announced that it is growing its team of professionals in order to accelerate sales in Animal Health as well as to continue development of its wound care hydrogel.  

Lori Christofalos has been hired as the Director of Quality and Compliance. Lori has over 25 years of experience in the development and implementation of quality programs at Apotex Inc, one of the largest Canadian-owned pharmaceutical companies and producers of generic medicines in the country. Lori will be supported by Shabnam Bashiri, who has been hired as the Manager of Quality Control. Both Lori and Shabnam will be integral in improving and maintaining Kane’s quality assurance program, running all activities pertaining to compliance, validation, quality control, and regulatory compliance.

Michel Stebenne is a seasoned marketing & sales executive with an impressive track record of success and will join Kane as the Vice President of Animal Health. Michel will be responsible for the entire Animal Health business, focused on growing sales, expanding into new markets, and launching new product lines.

“We are thrilled to be expanding the Kane team and extend a warm welcome to Lori, Michel, and Shabnam,” stated Marc Edwards, Chief Executive Officer of Kane Biotech. “We have made significant accomplishments with a very lean team over the past few months and I am pleased that we now have the resources to expand and grow our team. We have a game-changing technology in a number of high-growth markets, and I am committed to ensuring that we have the right team in place in order to capitalize on our significant growth potential.”

In addition to these three hires, Kane is actively searching for a candidate to spearhead the company’s Human Health business unit and expects to hire someone in the coming months. Kane is accelerating the development of DispersinB for use in the Human Health sector and aims to begin commercializing its first product (DispersinB hydrogel for wound care) by 2021. The recently announced $3.8 million interest-free repayable contribution from Western Economic Diversification Canada is integral in supporting these staff additions, and Kane will continue to utilize these funds in order to build its team and increase its R&D activities within Human Health.

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 (56 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(TM), DispersinB(R), Aledex(R), bluestem(TM), AloSera(TM), coactiv+(TM) and Kane(R) 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:

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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. 

Released August 12, 2019