Kane Biotech builds upon successful results with launch of a US Consumer Test
WINNIPEG, Manitoba, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (“Kane Biotech,” or “the Company”) is pleased to announce that the launch of a larger consumer product test to further prove the efficacy of the Company’s shampoo on dermatitis and dandruff began on October 14, 2020.
Kane Biotech’s shampoo has been in development since December 2019 and has delivered positive results from each phase of testing. The shampoo is based on extensive research that proved the relationship between microbial biofilms and their link to symptoms associated with common skin conditions such as atopic dermatitis, seborrheic (eczema) and dandruff. Kane Biotech’s shampoo contains their proprietary coactiv+™ technology, a patented anti-biofilm formulation which contains GRAS (Generally Recognized As Safe) ingredients that are suitable for daily use.
This large-scale, multi-product test will focus on US consumers and has a similar design to the consumer trial that was launched earlier this year in Canada. The program is expected to last up to 9 weeks with approximately 3,000 participants. It will serve as both further proof of efficacy of the shampoo and as a customer acquisition strategy tool.
“We are looking forward to building upon our successful Canadian pilot program and expect to see similar positive results with a larger test population. Market Research company Technavio recently released a report that highlighted a growing US dandruff shampoo market of approximately $6bn. This rapidly growing market and the significant response we received to our first trial highlight the fact that this is real problem for a wide number of consumers. We expect our proprietary coactiv+™ formulated shampoo to gain a sizeable portion of the growing market.” stated Marc Edwards, CEO of Kane Biotech.
Kane Biotech will also be launching a webstore under the DermaKB brand by mid-November where consumers will be able to purchase the new line-up of products.
Kane Biotech announced earlier that it had been approved for up to $54,570 in funding from the Government of Canada’s CanExport SME’s program. This funding will be used to support the marketing costs associated with the US launch of DermaKB.
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. Kane Biotech has a portfolio of biotechnologies, intellectual property (52 patents and patents pending, trade secrets and trademarks) and products developed by Kane Biotech's own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, silkstem™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. Kane Biotech is listed on the TSX Venture Exchange under the symbol "KNE” and on OTCQB Markets under the symbol “KNBIF".
For more information, please visit www.kanebiotech.com, or contact:
Chief Executive Officer, Kane Biotech Inc.
Chief Financial Officer, Kane Biotech Inc.
|+1 (514) 910-6991
+1 (204) 298-2200
+1 (416) 842-9003
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
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 Kane Biotech’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 Kane Biotech 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 Kane Biotech with applicable securities regulatory authorities, available at www.sedar.com. Kane Biotech cautions that the foregoing list of factors that may affect future results is not exhaustive.
Released October 28, 2020