Kane Biotech Provides Update on Exclusive License and Distribution Agreement with Dechra Veterinary Products
April 30 2019 - 6:55AM
Kane Biotech Inc. (TSX-V:KNE), (the “Corporation” or “Kane
Biotech”), a biotechnology company engaged in the research,
development and commercialization of technologies and products that
prevent and remove microbial biofilms, today provides an update on
its Exclusive License and Distribution Agreement with Dechra
Veterinary Products LLC (“Dechra”), a wholly-owned subsidiary of
Dechra Pharmaceuticals PLC (LSE:DPH). Kane Biotech receives an
ongoing royalty from Dechra on net sales of its Vetradent Products
in North America under the terms of this 10-year Agreement,
previously announced in March 2017,
Royalty revenues from Dechra have steadily increased in early
2019 and Kane expects the growth to continue as the Vetradent line
recently received broader approval when it was added to the
formulary of major American veterinary groups. In addition, Dechra
is currently planning to continue expansion of the Vetradent line
to include three new products. It will be adding a rawhide chew as
well as toothpaste over the summer, in addition to the bulk powder
water additive added in December 2018.
Marc Edwards, CEO of Kane Biotech, stated, “The first quarter of
2019 was a record quarter for Vetradent sales. We are delighted by
Dechra’s efforts to secure increased adoption by major veterinary
groups, as well as a product line expansion. I am confident that
Kane will continue to reap the benefits of this progress through
growing royalty revenue, which is anticipated to continue to
steadily increase as Dechra introduces new products. To support
this sales growth, we will implement a number of initiatives,
including new clinical trials and a renewed commitment to a
Veterinary Oral Health Council (VOHC) study, over the next 18
months.”
Mike Eldred, President of North American Operations at Dechra
Veterinary Products, commented, “We are very encouraged by the
recent transformation that Kane Biotech has undergone and are
excited about the Company’s new products. Kane’s contribution to
the expansion of the Vetradent line allows Dechra to offer one of
the most comprehensive oral care lines currently available in the
veterinary channel, providing customers with adaptable and
easy-to-use solutions for their pets.”
About Dechra Dechra is an international
veterinary pharmaceutical company with expertise in the
development, manufacture, sales and marketing of high-quality
products for veterinarians worldwide. As part of the License and
Distribution Agreement, Kane Biotech has agreed to exclusively
license its StrixNB™ and DispersinB® oral care and dermatology
products to Dechra for commercialization in the North American
veterinary market.
About Kane BiotechKane Biotech is a
biotechnology company engaged in the research, development and
commercialization of technologies and products that prevent and
remove microbial biofilms. The Corporation has a portfolio of
biotechnologies, intellectual property (66 patents and patents
pending, trade secrets and trademarks) and products developed by
the Corporation’s own biofilm research expertise and acquired from
leading research institutions. StrixNB(TM), DispersinB(R),
Aledex(R), bluestem(TM), AloSera(TM), coactiv+(TM) and Kane(R) are
trademarks of Kane Biotech Inc. The Corporation is listed on the
TSX Venture Exchange under the symbol "KNE".
For more information, please visit www.kanebiotech.com
or contact:Marc EdwardsChief Executive OfficerKane Biotech
Inc.
+1 (514)
910-6991
medwards@kanebiotech.com
Grant HumphreyVice President, Sales and Business DevelopmentKane
Biotech Inc.+1 (204)
914-5089
ghumphrey@kanebiotech.com
Joe Green US. Investor Relations Edison Inc. +1 (646)
653-7030
jgreen@edisongroup.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 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.
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