Kane Biotech Announces Fulfilment of First Major Animal Oral Care Product Order from China
December 17 2019 - 4:15PM
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 announced that it has
fulfilled its first major order, for $125,000 in bluestemTM Pet
Oral Care products, to its exclusive Chinese distribution partner,
Eetoys Pet Products Limited (“Eetoys”).
In July 2019, Kane Biotech announced the signing
of an exclusive distribution agreement with Eetoys, pursuant to
which Eetoys will distribute Kane Biotech’s bluestemTM Oral Care
products to more than 2,000 retailers across major markets in
China. In the third quarter of 2019, Kane Biotech fulfilled a test
order from Eetoys, successfully shipping the product overseas and
clearing customs.
“This shipment, which represents our second
largest global order to-date, is a major milestone for Kane
Biotech, particularly with the recent relaunch of our animal health
business,” stated Marc Edwards, CEO of Kane Biotech. “We believe
this shipment marks the beginning of significant global sales
growth of Kane’s specialty pet product line, supported by our
partnership with Eetoys in the fast-growing Chinese market as well
as our ongoing strategy to increase North American sales via online
and major retailer channels.”
“This summer, we received strong interest in
Kane Biotech’s Oral Care products at one of China’s largest pet
shows, China Pet Fair Asia 2019,” said James Chen, President of
Eetoys. “Given this early positive response from our customers, we
are looking forward to continuing to work with Kane Biotech to
offer a variety of specialty pet products to retailers across
China.”
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.
StrixNBTM, DispersinB®, Aledex®, bluestemTM, AloSeraTM, coactiv+TM
and Kane® 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 |
|
|
Ray
Dupuis |
|
Chief
Financial Officer |
|
Kane
Biotech Inc. |
|
+1 (204)
298-2200 |
rdupuis@kanebiotech.com |
|
|
Stephen
Kilmer |
|
Investor
Relations |
|
+1 (646)
274-3580 |
skilmer@kanebiotech.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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