Kane Biotech Announces Exclusive Distribution Agreement With XSONX
WINNIPEG, Manitoba, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (“Kane Biotech” or “Kane”) announces that it has signed an exclusive five year distribution agreement with XSONX LLC (“XSONX”) for Kane to distribute XSONX’s Wound Hygiene System in Canada, Australia, New Zealand and the Gulf Cooperation Council (GCC) Countries (the “Territories”).
The XSONX Wound Hygiene System is a cordless vibrational debridement tool which safely cleans and debrides chronic and contaminated wounds. More information can be found at www.xsonx.com
“The XSONX Wound Hygiene System is a proven contributor to chronic wound healing and will nicely complement Kane’s revyve™ product line,” said Marc Edwards, President & CEO. “I’m excited about this opportunity to partner with XSONX and to make their debridement tool widely available to wound care professionals via our distribution network.”
Kane will be introducing XSONX to Canadian practitioners starting today at the Wounds Canada National Hybrid Conference in conjunction with its revyve™ antimicrobial wound gel and revyve™ antimicrobial wound gel spray products.
“According to recently released consensus documents, 60% of wounds in the US are under debrided. I suspect this may be even higher in Canada and other international markets, making XSONX an important tool for practitioners,” said Dr. Wade Farrow, founder and CEO of XSONX. “Kane’s dedication to quality and its growing international distribution network makes them our ideal partner.”
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 (68 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 XSONX
XSONX is a medical device company based in Charlotte, North Carolina that has developed the XSONX Wound Hygiene System with HandHeld Vibrational Debridement Technology (HHVDT), which helps reduce patient pain and anxiety while removing devitalized tissue and disrupting biofilm with >500 vibrations per second. This results in a more uniform debridement with a higher safety margin and higher patient satisfaction compared to traditional debridement.
For more information:
| Marc Edwards | Ray Dupuis | ||||
| Chief Executive Officer | Chief Financial Officer | ||||
| Kane Biotech Inc | Kane Biotech Inc | ||||
| medwards@kanebiotech.com | rdupuis@kanebiotech.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 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 October 17, 2024