WINNIPEG, Manitoba, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) today announced that it has been selected to receive a potential award of up to approximately $3.4 million from an unnamed government agency related to the continuing clinical development of the Company’s DispersinB® to treat biofilm mediated antimicrobial resistance in non-healing chronic wounds. This award opportunity is subject to a number of terms and conditions that have yet to be agreed upon with the funding agency. Further information will be provided before the end of the first quarter of 2020.
“This is yet another incredible opportunity for Kane to significantly accelerate it’s business plan. Although an agreement has not yet been signed, the selection of our proposal for award is an important step in the process and we intend to work diligently and expeditiously with the government agency in finalizing the terms and conditions associated with this award,” stated Marc Edwards, CEO of Kane Biotech.
“This achievement is a significant endorsement of DispersinB® as a potential wound healing agent and of the outstanding work being done by the Kane team as it continues its pursuit of the optimal regulatory and product development path for the commercialization of this technology,” stated Philip Renaud, Chairman of the Board of Kane Biotech.
About Kane Biotech Inc.
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 (56 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®, bluestem™, AloSera™, coactive+™ and Kane® are trademarks of Kane Biotech Inc. The Company is listed on the TSX Venture Exchange under the symbol "KNE."
For more information, please visit www.kanebiotech.com, or contact:
Chief Executive Officer
Kane Biotech Inc.
+1 (514) 910-6991
Chief Financial Officer
Kane Biotech Inc.
+1 (204) 298-2200
+1 (646) 274-3580