Kane Biotech (TSX:V.KNE, Stock Forum) cleared a major hurdle today when the company announced it had received approval from Health Canada's Natural Health Products Directorate for the company's dermatological care products, DispersinB skin cream and DispersinB shampoo.
According to the news release, the approval allows the company to manufacture and market these products in Canada and makes way for clinical studies to test the efficacy claims.
The DispersinB formula are antibiofilm-antimicrobial and antibiotic free formulations that can be applied to the skin, scalp and hair. The skin cream can be used to provide relief for eczema, insect bites, poison ivy, poison sumac, contact dermatitis, seborrheic dermatitis and psoriasis, while the shampoo helps relieve itching and controls flaking caused by psoriasis or seborrhea, and dandruff.
The release went on to note that the company continues to focus its efforts and money on the animal health sector in an effort to establish a portfolio of products in order to build and strengthen the company's value position.
Current Health Canada approvals include the StrixNB™ product family for animal health and the DispersinB line for human health.
Kane was in the news recently when the company announced the issuance of common shares to pay outstanding interest at the end of June.
Shares climbed 12.50% on the news to $0.09 per share.
Currently there are 82.0m outstanding shares with a market cap of $7.4 million.