Kane Biotech Announces Positive Efficacy Results in STEM Pet Oral Care Clinical Trial
Kane Biotech Inc. (OTCQB: KNBIF) announced that preliminary analysis of efficacy trials for STEM Animal Health's pet oral care additive has successfully met its primary endpoint. This achievement opens the door for two milestone payments from STEM's licensing partners, contingent on positive clinical efficacy data. STEM's products utilize Kane’s patented Coactiv+™ technology aimed at combating plaque and tartar biofilm in pets. The collaboration between Kane and Animalcare Group focuses on advancing biofilm-related treatments in animals.
- Preliminary efficacy trials for STEM's pet oral care product met the primary endpoint, indicating successful results.
- Potential for two milestone payments from licensing partners due to positive clinical efficacy data.
- The company continues to rely on equity financing and lacks significant revenues to date.
- Risks include early-stage development challenges, market acceptance issues, and dependence on key personnel.
WINNIPEG, Manitoba, March 10, 2021 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company” or “Kane”), announced today that preliminary analysis of data from efficacy trials for STEM Animal Health Inc.’s (“STEM”) pet oral care water additive have met the primary endpoint.
As previously disclosed, two milestone payments to STEM from STEM’s licensing partners are dependent on positive clinical efficacy data and certification from an industry leading body.
STEM’s pet oral care products are scientifically formulated with Kane’s patented Coactiv+™ technology to safely break down plaque and tartar biofilm and freshen breath.
About STEM Animal Health
In September 2020, Kane formed STEM, a joint venture with Animalcare Group plc (“Animalcare”) dedicated to treating biofilm-related ailments in animals. STEM has a global license over Kane’s existing range of animal health oral care products and in collaboration with Animalcare focuses on the research and development of novel animal treatments based on biofilm targeting technology. Animalcare has a one-third plus one share equity interest in STEM with the balance owned by Kane.
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 (52 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+™, coactive+®, 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, please visit www.kanebiotech.com, or contact
| Marc Edwards | Ray Dupuis | Graham Farrell |
| Chief Executive Officer | Chief Financial Officer | Investor Relations |
| Kane Biotech Inc | Kane Biotech Inc | Harbor Access LLC |
| medwards@kanebiotech.com | rdupuis@kanebiotech.com | Graham.Farrell@HarborAccessllc.com |
| +1 (514) 910-6991 | +1 (204) 298-2200 | +1 (416) 842 9003 |
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
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.
COVID-19 Pandemic
Since December 31, 2019, the COVID-19 outbreak of the novel strain of coronavirus, SARS- CoV-2, has resulted in a widespread health crisis that has affected economies and financial markets around the world resulting in an economic downturn. The effects of this pandemic on the Company may include decreased customer demand, interruptions to supply chains, manufacturing activities and research and development programs and increased government regulations or interventions. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the length and severity of these developments nor the impact of these developments on the financial results and condition of the Company in future periods.
Source: Kane Biotech Inc
FAQ
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