WINNIPEG, Manitoba, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Kane Biotech CEO, Marc Edwards sees its rich 20-year history of biofilm research and product development as a real strategic advantage in the wound care and surgical markets.
“Biofilms in wound care have been an increasing topic of discussion amongst industry professionals for less than a decade but have now grown to be recognized as one of the biggest unresolved problems. This is a huge opportunity for Kane as our focus has exclusively been biofilms for the past 20 years and we are moving towards commercialization on not one but two important products,” said Edwards. “We anticipate that our DispersinB® wound gel will be a game-changer in the industry and the funding we’ve received from the U.S. Army through the Medical Technology Enterprise Consortium (MTEC) as well as from Western Economic Diversification Canada is a testimony to that. In the meantime, our plan for 2022 is to have met all the regulatory requirements to launch our coactiv+™ wound gel by early 2023, subject to FDA approval, as we believe it will have a significant impact on biofilm impaired wounds on a number of levels,” continued Edwards.
Investors should keep an eye on three major milestones in tracking the success of this business:
- Commencement of human clinical trials on the Company’s DispersinB® wound gel in Q2 2022. The results of preclinical safety and biocompatibility data are very encouraging, suggesting high efficacy and safety.
- Launch of the Company’s coactiv+™ Wound Gel. Use of the coactiv+™ technology in wound care products will complement the Company’s disruptive DispersinB® wound care product development efforts whilst enabling the pursuit of the simpler 510(k) regulatory route and potentially quicker market access. Kane estimates the U.S. market for wound care hydrogels to be approximately USD $200M.
- The signing of a commercial partnership, similar to the one structured in animal health in 2020 but at a significantly higher valuation, is progressing. The expertise, reach and extensive sales force of a large global wound care partner will be transformational for the Company.
To help keep investors up to date on these and other key initiatives in 2022, Kane has launched a new video blog series on their website. Watch the first full video here
About Kane Biotech
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 (51 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+™, 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:
| Marc Edwards | Ray Dupuis |
| Chief Executive Officer | Chief Financial Officer |
| Kane Biotech Inc | Kane Biotech Inc |
| medwards@kanebiotech.com | rdupuis@kanebiotech.com |
| +1 (514) 910-6991 | +1 (204) 298-2200 |
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 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.
