WINNIPEG, Manitoba, July 22, 2021 (GLOBE NEWSWIRE) -- Kane Biotech Inc. announces plans to expand its wound care and surgical portfolio with an antimicrobial hydrogel based on its best-in-class coactiv+™ technology.
Kane has already demonstrated efficacy of its patented coactiv+TM technology in both clinical studies to support various veterinary products and in large-scale consumer trials in support of the recently launched DermaKBTM line of scalp care products. Use of the coactiv+TM 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 US market for wound care hydrogels to be approximately US$200M.
“This is a major step forward in exploiting Kane’s biofilm research and expertise,” commented Marc Edwards, Kane’s President & CEO. “This important development for Kane is in line with our strategy of rapidly bringing to market products to treat biofilm-aggravated infections based on our own intellectual property platforms. Our coactiv+TM technology provides highly effective efficacy and is formulated from ingredients that are Generally Regarded as Safe (GRAS). We are committed to getting our coactiv+TM technology in the hands of wound care professionals and their patients as quickly as possible”.
Dr. Gregory Schultz, Emeritus Professor Obstetrics and Gynecology and prior Director of the Institute for Wound Research, University of Florida added: “Laboratory tests show that coactiv+™ effectively inhibits formation of bacterial biofilms and reduces the bioburden in preformed biofilms. The active ingredients in this innovative and patented formulation are FDA approved and GRAS, thus minimizing issues of cytotoxicity and skin irritation. Coactiv+™ could be incorporated into multiple product applications providing clinicians with important tools throughout the wound healing process in the fight against biofilm formation and bioburden proliferation.”
Watch Kane’s latest 2021 business update video series 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 (54 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+™, coactive+®, 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”.
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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 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.
