Kane Biotech Announces Change in US Distribution Partner for revyve™ Antimicrobial Wound Gel
Kane Biotech announces that BioStem Technologies has signed a Letter of Intent to acquire exclusive US distribution rights for revyve™ Antimicrobial Wound Gel from current distributor ProgenaCare Global. The acquisition aligns with BioStem's strategy to expand its wound care portfolio and leverage its commercial infrastructure. BioStem aims to finalize definitive agreements within 60 days, subject to regulatory approvals and Board consent. Kane Biotech's CEO views this as an opportunity to significantly expand market penetration of revyve™ in the US market while completing commercial-scale manufacturing of both gel and spray products.
Kane Biotech annuncia che BioStem Technologies ha firmato una Lettera di Intenti per acquisire i diritti di distribuzione esclusiva negli Stati Uniti per il revyve™ Antimicrobial Wound Gel dal distributore attuale ProgenaCare Global. L'acquisizione è in linea con la strategia di BioStem di ampliare il proprio portafoglio di prodotti per la cura delle ferite e sfruttare la propria infrastruttura commerciale. BioStem mira a finalizzare gli accordi definitivi entro 60 giorni, subordinati alle approvazioni regolatorie e al consenso del Consiglio. Il CEO di Kane Biotech considera questa un'opportunità per espandere significativamente la penetrazione di mercato di revyve™ nel mercato statunitense, mentre si completa la produzione su scala commerciale sia dei gel che dei prodotti spray.
Kane Biotech anuncia que BioStem Technologies ha firmado una Carta de Intención para adquirir los derechos de distribución exclusiva en Estados Unidos para el revyve™ Antimicrobial Wound Gel del distribuidor actual ProgenaCare Global. La adquisición se alinea con la estrategia de BioStem de expandir su cartera de cuidado de heridas y aprovechar su infraestructura comercial. BioStem tiene como objetivo finalizar los acuerdos definitivos en un plazo de 60 días, sujeto a aprobaciones regulatorias y al consentimiento de la Junta. El CEO de Kane Biotech ve esto como una oportunidad para expandir significativamente la penetración de mercado de revyve™ en el mercado estadounidense, mientras se completa la fabricación a escala comercial de tanto el gel como de los productos en spray.
Kane Biotech는 BioStem Technologies가 현재 유통업체인 ProgenaCare Global로부터 revyve™ Antimicrobial Wound Gel의 미국 독점 유통권을 인수하기 위한 의향서를 체결했음을 발표했습니다. 이번 인수는 BioStem의 상처 치료 포트폴리오를 확장하고 상업적 인프라를 활용하려는 전략과 일치합니다. BioStem은 규제 승인의 구속을 받으며 이사회 동의 조건으로 60일 이내에 최종 계약을 체결할 계획입니다. Kane Biotech의 CEO는 이것을 미국 시장에서 revyve™의 시장 침투를 크게 확장할 수 있는 기회로 보고 있으며, 젤 및 스프레이 제품의 상업 규모 제조를 완료하는 것을 목표로 하고 있습니다.
Kane Biotech annonce que BioStem Technologies a signé une lettre d'intention pour acquérir les droits de distribution exclusifs aux États-Unis pour le revyve™ Antimicrobial Wound Gel auprès du distributeur actuel ProgenaCare Global. Cette acquisition s'aligne sur la stratégie de BioStem visant à élargir son portefeuille de soins des plaies et à tirer parti de son infrastructure commerciale. BioStem vise à finaliser des accords définitifs dans un délai de 60 jours, sous réserve des approbations réglementaires et du consentement du conseil d'administration. Le PDG de Kane Biotech considère cela comme une opportunité d'élargir considérablement la pénétration du marché de revyve™ sur le marché américain tout en finalisant la fabrication à l'échelle commerciale des produits en gel et en spray.
Kane Biotech gibt bekannt, dass BioStem Technologies eine Absichtserklärung unterzeichnet hat, um die exklusiven Vertriebsrechte für revyve™ Antimicrobial Wound Gel vom aktuellen Distributor ProgenaCare Global in den USA zu erwerben. Die Akquisition steht im Einklang mit der Strategie von BioStem, das Produktportfolio für Wundpflege zu erweitern und ihre kommerzielle Infrastruktur zu nutzen. BioStem strebt an, innerhalb von 60 Tagen endgültige Vereinbarungen abzuschließen, vorbehaltlich der behördlichen Genehmigungen und der Zustimmung des Vorstands. Der CEO von Kane Biotech sieht hierin eine Gelegenheit, die Marktpenetration von revyve™ in den USA erheblich zu erweitern, während die kommerzielle Herstellung von Gel- und Sprayprodukten abgeschlossen wird.
- Potential expansion of revyve™ market penetration through BioStem's established wound care distribution network
- Strategic alignment with a distributor focused on wound care sector growth
- Planned commercial-scale manufacturing expansion for both gel and spray products
- Distribution agreement still subject to due diligence and regulatory approvals
- Transition period between distributors may impact short-term sales
BioStem Technologies Signs Letter of Intent to Acquire Exclusive US Distribution Rights for revyve™ from ProgenaCare Global
WINNIPEG, Manitoba, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company”, “Kane Biotech” or “Kane”) announces today that BioStem Technologies Inc. (“BioStem”), has recently signed a Letter of Intent to acquire commercial stage products and development technologies from the Company’s current U.S. distributor, ProgenaCare Global LLC (“ProgenaCare”), including exclusive US distribution rights for Kane’s revyveTM Antimicrobial Wound Gel.
BioStem made the announcement on November 20, 2024. The company indicated that the acquisition of revyveTM Antimicrobial Wound Gel reflects BioStem’s continued commitment to building a diverse portfolio of complementary wound care products that enable BioStem to leverage its commercial infrastructure.
“With revyveTM, we could address wounds early in the treatment continuum, greatly broadening the patient population BioStem supports and offering multiple opportunities for channel expansion,” stated Jason Matuszewski, CEO of BioStem in BioStem’s press release. The ProgenaCare acquisition “represents a significant opportunity for us as part of our portfolio expansion initiatives. The products align perfectly with our goal to provide wound-care solutions across the entire continuum of care.”
“This is a great opportunity to significantly expand market penetration of the revyveTM product line in the U.S. given BioStem’s impressive track of growth within the wound care sector,” said Marc Edwards, President & CEO. “We are excited to work with the BioStem team to significantly and quickly ramp up sales of the revyveTM product line in the US while in the interim we complete commercial-scale manufacturing of both the revyveTM Antimicrobial Wound Gel and revyveTM Antimicrobial Wound Gel Spray.”
BioStem expects to finalize definitive agreements within 60 days following customary due diligence. The transaction is subject to regulatory approvals and Board consent. BioStem and ProgenaCare will work together to integrate revyveTM into BioStem’s portfolio.
About BioStem Technologies
BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established per current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). Our portfolio of quality brands includes AmnioWrap 2™, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida.
About ProgenaCare
ProgenaCare is a purpose-driven medical device company leveraging cutting-edge advances in biomaterials and medical device technologies to provide effective, affordable advanced wound care solutions to patients across the socioeconomic spectrum and around the world.
About Kane Biotech
Kane Biotech Inc. is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. Kane has a portfolio of biotechnologies, intellectual property (66 patents and patents pending as well as trade secrets and trademarks) and products developed by Kane's own biofilm research expertise and acquired from leading research institutions. DispersinB®, coactiv+™, coactiv+®, DermaKB™, DermaKB Biofilm™, and revyve™ are trademarks of Kane Biotech Inc. Kane is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information:
| Marc Edwards | Ray Dupuis | ||||
| Chief Executive Officer | Chief Financial Officer | ||||
| Kane Biotech Inc | Kane Biotech Inc | ||||
| medwards@kanebiotech.com | rdupuis@kanebiotech.com | ||||
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 Kane’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 Kane 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 Kane with applicable securities regulatory authorities, available at www.sedarplus.ca. Kane cautions that the foregoing list of factors that may affect future results is not exhaustive.
FAQ
What is the new US distribution partner for Kane Biotech's revyve™ product (KNBIF)?
When will BioStem finalize the distribution agreement for Kane Biotech's revyve™ (KNBIF)?
What products are included in the Kane Biotech (KNBIF) and BioStem distribution agreement?
