Kane Biotech Sues Nestlé
WINNIPEG, Manitoba, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”) today announced that it has filed a lawsuit against Nestec, Ltd., a/k/a Nestec, S.A. (“Nestec”), and Nestlé Purina Petcare Global Resources, Inc. (“Nestlé Purina”), (collectively “Nestlé”) for breach of agreements between the parties, and misappropriation of Kane Biotech’s trade secrets and intellectual property. In the six-count complaint filed under seal in U.S. federal court in Missouri, Kane Biotech alleges, amongst other improper activities, that a Nestlé patent application makes improper use of Kane Biotech’s patent rights for oral care, personal care and wound care antimicrobial and anti-biofilm technologies that the Corporation developed.
Mark Ahrens-Townsend, President & CEO of Kane Biotech, said, "Kane Biotech has invested significantly in its intellectual property and it will vigorously protect and defend its interests and the interests of its shareholders against anyone who seeks to profit from it without proper compensation to our Corporation.”
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 Corporation has a portfolio of biotechnologies, intellectual property (75 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™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. The Corporation 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:
President & CEO, Kane Biotech Inc.
+1 (204) 477-7592
Glen H. Waldman
Waldman Barnett, P.L.
+1 (305) 371-8809
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.
Released February 26, 2018