Kane Biotech Signs Worldwide License Agreement with Omni Bioceutical Innovations Inc.

First Licensing Agreement for coactiv+™ Scalp Care Line

WINNIPEG, Manitoba, July 11, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (“Kane Biotech” or “Kane”) announces that it has signed a worldwide license agreement with Arizona-based Omni Bioceutical Innovations Inc. (“Omni”) for its coactiv+™ line of scalp care products.

The five-year non-exclusive agreement will see Omni commercialize Kane’s scalp detoxifier product under the Omni Bioceuticals brand in the medical aesthetics market.

Kane’s scalp care product line addresses minor health ailments where biofilms contribute to the problem. It contains Kane’s patented coactiv+™ technology which is formulated to break down bacterial and fungal biofilms as well as the accumulation of precipitated shampoo films that exacerbate the symptoms associated with common scalp conditions. Kane launched a shampoo, shampoo bar and scalp detoxifier under the DermaKB™ brand in 2020, as its first products in their new skin care line.

“Scalp care is a rapidly expanding category in the medical esthetics market. The remarkable results from Kane’s large-scale consumer trial on their DermaKB™ Scalp Detoxifier made this a very compelling opportunity for us, in particular because the formulation is free from harsh chemicals. This combination of efficacy and safety provided the key elements we were looking for,” said Jane Christensen, CEO of Omni. “We believe this product will have a considerable impact in this space under the Omni Bioceuticals brand.”

“I am pleased to partner with Omni, which has a proven track record of delivering innovative skin treatment and care solutions to people throughout their lifetime, in making Kane’s unique scalp care line available on a global scale,” said Marc Edwards, President & CEO.

About Kane Biotech

Kane Biotech Inc. is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. Kane has a portfolio of biotechnologies, intellectual property (67 patents and patents pending, trade secrets and trademarks) and products developed by Kane's own biofilm research expertise and acquired from leading research institutions. DispersinB^®, coactiv+™, coactiv+^®, DermaKB™, DermaKB Biofilm™, and revyve™ are trademarks of Kane Biotech Inc. Kane is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.

About Omni Bioceutical Innovations Inc.

Omni Bioceutical Innovations is a private company committed to delivering innovative skin treatment and care solutions to the dermatological needs of people throughout their lifetime while serving professionals in the global medical aesthetic market. Omni has a portfolio of topical skincare and haircare products under the “Omni Bioceuticals” brand. The company also owns patented technologies including 3 patents related to delivery systems, numerous trade secrets and expertise in custom product development.

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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 Kane’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 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 with applicable securities regulatory authorities, available at www.sedarplus.ca. Kane cautions that the foregoing list of factors that may affect future results is not exhaustive.

Released July 11, 2024