Kane Biotech and Dechra Veterinary Products Expand Exclusive License and Distribution Agreement to Include South America
October 16 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 and Dechra Veterinary
Products LLC (“Dechra”) a wholly-owned subsidiary of Dechra
Pharmaceuticals PLC (LSE: DPH) today announced the expansion of
their 10-year Exclusive License and Distribution Agreement to
include South America. The Agreement was originally announced in
March 2017.
Kane Biotech will receive an upfront payment upon the first
commercial sale of Vetradent in Brazil, as well as an ongoing
royalty on net Vetradent sales in South America, Terms of the
Agreement are confidential between the parties and further
financial details are not disclosed.
“Dechra has proven to be a strong partner over the past two
years and continue to be integral to getting our technology
commercialized in the global veterinary market,” stated Marc
Edwards, Chief Executive Officer of Kane Biotech. “Product
sales have accelerated quickly throughout 2019, and we anticipate
continued royalty revenue growth as we expand our product line and
enter South America. Geographic expansion is a key facet of our
long-term strategy, and we are excited to enter this new market
with Dechra.”
About Dechra
Dechra is an international global 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 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".
For more information, please visit
www.kanebiotech.com or contact: |
Marc
Edwards |
|
Chief Executive Officer |
|
Kane Biotech Inc. |
|
+1 (514) 910-6991 |
medwards@kanebiotech.com |
|
|
Joe Green |
|
U.S. Investor Relations |
|
Edison Inc. |
|
+1 (646) 653-7030 |
jgreen@edisongroup.com |
|
|
Laine Yonker |
|
U.S. Investor Relations |
|
Edison Inc. |
|
+1 (646) 653 7035 |
lyonker@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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