WINNIPEG, MANITOBA--(Marketwire - Oct. 25, 2012) - Kane Biotech Inc. (KNE.V), a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms is pleased to announce that the Company has signed a non-exclusive licensing agreement with Avmor Ltd for the manufacturing, distribution and sales of the Company's KBI Antibacterial Hard Surface Disinfectant (KBI) for the Canadian market. Avmor is Canada's leading manufacturer of professional cleaning solutions for the janitorial, sanitation and foodservice markets. Details of the agreement are not disclosed.
The agreement provides Avmor, with the rights to manufacture, distribute and sell KBI with an associated period of market exclusivity for the Canadian marketplace. The Companies will work closely together on technical, marketing and additional development initiatives to advance new formulations and applications.
KBI has received the Therapeutic Products Directorate of Health Canada approval with the issuance of a Drug Identification Number or DIN (02374463) for the Canadian household domestic use market. The Company has also submitted its supplemental DIN application to Health Canada for label expansion to include the additional sites of use such as hospital, food processing, medical instruments, barn and institutional and industrial facilities.
The Canadian hard surface disinfectant market is estimated at $130 million per year and is driven by the recent outbreaks of infectious diseases caused by bacterial and viral pathogens. KBI is effective against antibiotic-resistant bacterial pathogens such as Methicillin-resistant S. aureus (MRSA, "superbug"), Pseudomonas aeruginosa, Vancomycin-Resistant Enterococci (VRE), Klebsiella pneumoniae and Acinetobacter baumannii. It is also very effective against dangerous E. coli O157, Listeria and Salmonella that caused recent outbreaks of food-borne diseases due to contamination in food processing facilities. Unlike the other commercial disinfectants, KBI has both antimicrobial and antibiofilm activity that not only kills the free-living bacteria but also eradicates biofilm-embedded bacteria, which can be up to 1000 times resistant to antimicrobials.
"This agreement with Kane Biotech allows Avmor to deliver our customers with the most innovative new technology on the market," stated Paul Goldin, Chief Sustainability Officer and Director of Marketing and Technical Services of Avmor. "Kane's expertise and unique biofilm solutions allow us to provide a product with a simple two pronged attack that first breaks down the biofilm then kill the bacteria once hiding in the biofilm."
"We are very pleased to be working with Avmor to commercialize KBI. Avmor is a leading manufacturer, has a well established market position and strength across the Canadian marketplace," stated Gord Froehlich, President and CEO of Kane Biotech. "Working with Avmor opens the door to a very exciting market for our disinfectant product bringing viable solutions to the sanitation industry."
About Avmor Ltd.
Headquartered in Laval, Quebec, Avmor is Canada's leading manufacturer of professional cleaning solutions aimed at the Janitorial, Sanitation and Foodservice markets. Avmor holds a Establishment License, which is a prerequisite to be able to manufacture hand soaps that include antiseptic claims and a DIN (Drug Identification number) or NPN (Natural Product Number) provided by Health Canada. Avmor offers a full range of hand care products, Avmor's complete line of cleaning products includes Cleaners/Degreasers, Floor Care, Washroom Care, Food Service Care, Hand Care, Disinfectants and others. Some of Avmor's signature brands are AV-mixx Dilution Control System, Biomor Biological Cleaning Solutions, Quick Stuff Food Service Cleaning System, Synergy Floor Care and EcoPure, its environmentally responsible sanitation program which features over 50 certified EcoLogo products. For over 60 years, Avmor has remained at the industry forefront, defining product performance standards and striving for the safest and most cost-effective cleaning systems for professional use. Avmor Ltd. is a privately held company.
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the development and commercialization of products to prevent and remove biofilms. Biofilms are a major cause of a number of serious medical problems including chronic infections and medical device related infections. They develop on surfaces such as catheters, prosthetic implants, teeth, lungs and the urogenital tract. Biofilms are pervasive, costly to deal with and are involved in approximately 80% of all human bacterial infections. The healing of chronic wounds alone costs the United States health care system $20 billion per year.
Kane Biotech uses patent protected technologies based on molecular mechanisms of biofilm formation/dispersal and methods for finding compounds that inhibit or disrupt biofilms. The Company has evidence that these technologies have potential to significantly improve the ability to prevent and/or destroy biofilms in several medical and industrial applications.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
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. Important factors that could cause actual results to differ materially from these expectations include, among other things: Kane's early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Kane's filings with Canadian securities regulatory authorities, as well as Kane's ability to anticipate and manage the risks associated with the foregoing. Kane cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Kane's forward-looking statements to make decisions with respect to Kane, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Kane cannot provide assurance that actual results will be consistent with these forward-looking statements. Kane undertakes no obligation to update or revise any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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