Kane Biotech Receives Funding for Research and Development
October 08 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, is pleased to announce that
they have been awarded a non-repayable contribution of up to CAD
$340,680 from the National Research Council of Canada Industrial
Research Assistance program (NRC IRAP). The contribution covers the
period from October 7, 2019 to May 31, 2021.
Kane intends to use this funding to support research and
development in order to enhance its quality assurance, quality
control, and supply chain capabilities to support its rapidly
growing animal health sales and commercialization efforts. As a
result of this support, the company will be well-positioned to
fulfill regulatory requirements associated with its first human
health product, a DispersinB Hydrogel, which is in late-stage
development.
“This contribution will allow us to keep pace with our rapidly
growing animal health sales and supports our commitment to the
continual improvement of our products,” stated Marc Edwards, Chief
Executive Officer of Kane Biotech. “We are focused on building out
our portfolio of animal health products and partnering with some of
the big names in the space, and this funding will serve as a
catalyst for our continued growth and geographic expansion. The
next few months will be pivotal for Kane as we invest heavily in
commercialization efforts and continued R&D. We’ve brought on
several very strong hires, increased the reach and volume of our
animal health/oral care product sales, and furthered the
development of our DispersinB hydrogel for wound care. I appreciate
the support from NRC IRAP and look forward to sharing our progress
in the coming months.”
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 Corporation has a
portfolio of biotechnologies, intellectual property (56 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".
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For more information, please visit
www.kanebiotech.com, or contact: |
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Marc
Edwards |
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Chief Executive Officer |
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Kane Biotech Inc. |
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+1 (514) 910-6991 |
medwards@kanebiotech.com |
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Ray Dupuis |
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Chief Financial Officer |
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Kane Biotech Inc. |
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+1 (204) 298-2200 |
rdupuis@kanebiotech.com |
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Joe Green |
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US. Investor Relations |
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Edison Inc. |
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+1 (646) 653-7030 |
jgreen@edisongroup.com |
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Laine Yonker |
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US. Investor Relations |
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Edison Inc. |
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+1 (646) 653-7035 |
lyonker@edisongroup.com |
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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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