Kane Biotech Announces First Distribution Agreement for its coactiv+™ Antimicrobial Hydrogel
Kane Biotech has signed a distribution agreement with Salud Pharma to launch its coactiv+™ Antimicrobial Hydrogel and DermaKB™ scalp care products in Colombia, Panama, and Costa Rica. The coactiv+™ product will be marketed through wound care centers and pharmacies after receiving FDA 510(k) approval. The DermaKB™ line addresses biofilm-related scalp conditions. This partnership aims to improve patient care in the region, responding to a significant need for advanced wound care solutions, given that over 80% of chronic wounds involve biofilm formation.
- Signed a distribution agreement with Salud Pharma for coactiv+™ and DermaKB™ products.
- Potential for significant market expansion in Colombia, Panama, and Costa Rica.
- Coactiv+™ technology is expected to address high biofilm production issues in wounds.
- Dependence on receiving FDA 510(k) approval before launch.
- Financial reliance on equity and financing due to lack of significant revenues.
Salud Pharma to launch product in Colombia, Panama, and Costa Rica
WINNIPEG, Manitoba, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE OTCQB:KNBIF) (the “Company” or “Kane Biotech”) announces today that it has recently signed a distribution agreement with Salud Pharma S.A. (“Salud Pharma”) for its coactiv+™ Antimicrobial Hydrogel wound care and DermaKB™ scalp care products.
Once Kane obtains 510(k) approval from the FDA, Salud Pharma through its distribution partners will register and commercialize Kane’s coactiv+™ Antimicrobial wound gel throughout Colombia, Panama, and Costa Rica via wound care centers and pharmacies and will also import and distribute Kane’s DermaKB™ (www.dermaKB.com) line of scalp detoxifier and shampoos.
“This is a significant milestone for Kane as we secure partners globally to bring our technologies to the wound care and surgical markets,” said Marc Edwards, President and Chief Executive Officer. “The response from potential partners for our coactiv+™ Antimicrobial wound gel has been extremely positive. There is a real need in the US and around the world for premium products such as ours that are accessible to patients. We’ve had an opportunity to review Salud Pharma’s track record with other products in the category and they were the clear choice for us.”
The coactiv+™ Antimicrobial Hydrogel is a combination of Kane’s patented coactiv+™ antibiofilm technology and PHMB in a thermo-reversible gel. The combination of these three components provides for a moist environment best suited for wound healing, with superior anti-microbial activity in an easy-to-use thermo-reversible gelling system that is optimized for sensitive wounds. When the coactiv+™ Antimicrobial Wound Gel is cooled below 16° C/60° F, it transforms into a liquid state, allowing it to be poured onto a sensitive wound, such as a burn. Once applied, the product will gel within seconds, providing a thick clear coating. It can then be easily rinsed off with cold water. The Company aims to make the wound gel accessible to patients, taking into consideration current reimbursement levels under the surgical dressing policy in the U.S.
DermaKB™ Biofilm Products are a line of scalp care products with Kane’s patented coactiv+™ technology that include scalp detoxifier, shampoo, and shampoo bar designed to break down biofilm. Recent research has indicated that the persistence of biofilms may be linked with aggravating the symptoms associated with common scalp conditions, such as dandruff and seborrheic dermatitis. DermaKB™ ingredients are designated GRAS (Generally Recognized As Safe) by the FDA and suitable for daily use.
"We are pleased to partner with Kane Biotech through this agreement. One of our main objectives is to continue adding value in the wound care and dermatological pathologies markets, guiding us in that direction," said Nicolás Ribon, General Manager, Salud Pharma S.A., Panama. "A significant percentage of wounds and dermatological pathologies in Latin America are associated with high biofilm production. In this sense, we will positively affect the quality of life of patients and caregivers through our distribution."
Chronic wounds present a significant financial burden to the U.S. healthcare system. The treatment of chronic wounds is a major challenge for health care providers, with a high failure rate leading to amputation, sepsis, and death. One of the major reasons for this failure is the formation of bacterial biofilms, which are present in over
About SALUD PHARMA
Salud Pharma S.A. is a pharmaceutical company that offers its customers high quality standards products through solid strategic partnerships in North and Latin America, where it has specialized and reliable distributors.
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 (80 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+™, coactiv+®, 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”.
| For more information: | ||||
| Marc Edwards | Ray Dupuis | Nicole Sendey | ||
| Chief Executive Officer | Chief Financial Officer | Investor Relations/PR | ||
| Kane Biotech Inc | Kane Biotech Inc | Kane Biotech Inc | ||
| medwards@kanebiotech.com | rdupuis@kanebiotech.com | nsendey@kanebiotech.com | ||
Notes to Editor/References:
1. Kresser, C. (2019, October 10). Biofilm: What it is and how to treat it. Kresser Institute. https://kresserinstitute.com/biofilm-what-it-is-and-how-to-treat-it/
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 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.
FAQ
What products is Kane Biotech launching with Salud Pharma in 2023?
Which countries will Kane Biotech's products be available in?
What is the significance of the 510(k) approval for Kane Biotech?
What is the main purpose of the coactiv+™ Antimicrobial Hydrogel?
How does the DermaKB™ product line help with scalp conditions?
