Kane Biotech Strengthens Board with Biotech Executive

WINNIPEG, Manitoba, April 13, 2021 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (the “Company” or “Kane Biotech”), is pleased to announce that Dr. Allan Mandelzys has been engaged as an advisor to Kane Biotech’s Board of Directors and will be nominated for Board directorship at the Company’s upcoming Annual and Special Meeting of Shareholders to be held on May 26, 2021.

Dr Mandelzys, who has been instrumental in the growth of several biotechnology and pharmaceutical companies, is a strategic business and scientific consultant to the biotech industry. He is currently Chairman of Searchlight Pharma and a member of the Board of Matrizyme Pharma Corp and Exactis Innovation. He is a former Board member of Clementia Pharmaceuticals up until its acquisition by Ipsen in 2019 and of Bedrocan Cannabis Corporation up until its amalgamation into Canopy Growth Corporation in 2015. Prior to his consulting roles, Dr. Mandelzys served as CEO and director at Thallion Pharmaceuticals up until its acquisition by Bellus Health in 2013. Prior to Thallion, Dr. Mandelzys served as vice president of business development at Labopharm from 2000 to 2006 and held senior research and business development roles with Allelix Biopharmaceuticals from 1995 to 2000 through its acquisition by NPS Pharmaceuticals. Dr. Mandelzys earned a PhD in physiology and an MBA from McGill University, and holds a BSc from the University of Toronto. He received his post-doctoral training at the Roche Institute of Molecular Biology.

“Allan brings a wealth of biotechnology and pharmaceutical experience as well as a strong track record of success to Kane,” stated Marc Edwards, CEO of Kane Biotech. “I look forward to working with Allan; his participation and leadership within the healthcare sector will add a layer of strong business and scientific acumen to our board and management team.”

“Microbial biofilms and antibiotic resistance are significant barriers to proper wound healing and the health of dermal tissues. DispersinB^® and coactiv+™ are important technology platforms targeting the overuse of antibiotics. Marc has built a strong team and has identified both human healthcare and veterinary markets in which the company believes it can make a difference. I look forward to working closely with the Kane team,” said Dr Allan Mandelzys.

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 Company has a portfolio of biotechnologies, intellectual property (53 patents and patents pending, trade secrets and trademarks) and products developed by the Company's own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB^®, Aledex™, bluestem™, bluestem^®, silkstem™, goldstem™, coactiv+™, DermaKB™ and DermaKB Biofilm™ are trademarks of Kane Biotech Inc. The Company 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 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 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.

COVID-19 Pandemic

Since December 31, 2019, the COVID-19 outbreak of the novel strain of coronavirus, SARS- CoV-2, has resulted in a widespread health crisis that has affected economies and financial markets around the world resulting in an economic downturn. The effects of this pandemic on the Company may include decreased customer demand, interruptions to supply chains, manufacturing activities and research and development programs and increased government regulations or interventions. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the length and severity of these developments nor the impact of these developments on the financial results and condition of the Company in future periods.

Source: Kane Biotech Inc.

Released April 13, 2021