WINNIPEG, MANITOBA--(Marketwired - Nov. 6, 2013) - Kane Biotech Inc. (TSX VENTURE:KNE), a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms is pleased to announce it has received Notification Number "NN.TZMT" from the Interim Notification Program for Low Risk Veterinary Health Products (LRVHP) for a new StrixNB oral care product in Canada. With the issuance of this notification number, the Company has cleared the final requirements for StrixNB Oral Care Spray to enter the companion animal market in Canada.
Health Canada in cooperation with the Canadian Animal Health Institute has developed an interim notification program for low-risk veterinary health products used in cats, dogs, and horses. The oral spray is the second product in the Company's companion animal oral care portfolio and is complementary to currently sold StrixNB Oral Care Water Additive. The new StrixNB application can be sprayed directly on the teeth and tongue of the animal or can be applied to treats and dental chews to assist in dental and oral hygiene. The Company has also appointed a cGMP manufacturer for this new product. The pet oral care market in the US is estimated at $450 million per year.
In addition, over the summer the Company has developed a number of new products with initial focus on the animal health sector. These products are progressing through the development stages and include a StrixNB Oral Care Powder application and two new topical dermatological formulations (under the brand name DispersinB®). The new dermatological formulations developed include antibiofilm-antimicrobial (non-antibiotic) otic drops for chronic ear infections and an antibiofilm-antimicrobial (non-antibiotic) topical spray for atopic dermatitis-associated infections. Regulatory packages for the above products have been submitted to Health Canada's LRVHP program for review.
"We are very pleased to obtain LRVHP clearance for our second StrixNB oral care product as we continue to further develop an innovative portfolio of oral care products for pet owners," stated Gord Froehlich, President and CEO of Kane Biotech. "Effectiveness against biofilms continues to limit many oral and topical dermatological products currently on the market presenting exciting opportunities for our StrixNB & DispersinB portfolio of products."
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.
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.
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.
StrixNB™, DispersinB® and Aledex® are registered trademarks of Kane Biotech Inc. All Rights Reserved 2013