Kane Biotech Receives $397,500 From Warrant Exercise
04 Febrero 2014 - 7:00AM
Marketwired
Kane Biotech Receives $397,500 From Warrant Exercise
WINNIPEG, MANITOBA--(Marketwired - Feb 4, 2014) - Kane Biotech
Inc. (TSX-VENTURE:KNE), a biotechnology company engaged in the
development and commercialization of products that prevent and
remove microbial biofilms, is pleased to announce it has received a
total of $397,500 from the exercising of 2,650,000 warrants at $.15
per share from warrant holders. The warrants were issued on
December 14, 2012 as part of a previously announced financing.
The warrants exercised included 1,400,000 warrants exercised by
insiders of the company. The remaining warrants issued in
conjunction with the financing have expired.
The Company is currently focusing its resources and capital in
the companion animal market. The primary objective is to assess the
company's StrixNB™ oral care products in regional markets to
confirm communications, market strategy and tactics and to evaluate
new formulations to enhance the product portfolio. StrixNB
concentrate drinking water additive and oral care spray are
currently approved by Health Canada's Low Risk Veterinary Heath
Products program. In addition the company is developing a
toothpaste and powder formulation.
Kane Biotech also continues to develop the DispersinB®
dermatological product portfolio and has previously announced that
it has received Health Canada's Low Risk Veterinary Health Products
program approval for the company's first dermal care product
DispersinB topical spray. Additional products in development
include antibiofilm-antimicrobial (non-antibiotic) products for
acute and chronic ear infections and shampoo for animal health
care, and also a human skin care product for dermal infections such
atopic dermatitis, eczema and psoriasis associated infections.
The Company also recently signed an agreement with a global
healthcare company who has been assessing Kane Biotech's
antibiofilm-antimicrobial technologies. The global healthcare
company holds an option to obtain an exclusive, worldwide license
to develop, commercialize and market certain oral and wound care
technologies in the global animal health market.
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the
development and commercialization of products to prevent and remove
biofilms. Biofilms are a major cause of a number of serious medical
problems including chronic infections and medical device related
infections. They develop on surfaces such as catheters, prosthetic
implants, teeth, lungs and the urogenital tract. Biofilms are
pervasive, costly to deal with and are involved in approximately
80% of all human bacterial infections. The healing of chronic
wounds alone costs the United States health care system $20 billion
per year.
Kane Biotech uses patent protected technologies based on
molecular mechanisms of biofilm formation/dispersal and methods for
finding compounds that inhibit or disrupt biofilms. The Company has
evidence that these technologies have potential to significantly
improve the ability to prevent and/or destroy biofilms in several
medical and industrial applications.
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
Certain statements contained in this press release
constitute forward-looking information within the meaning of
applicable Canadian provincial securities legislation
(collectively, "forward-looking statements"). These forward-looking
statements relate to, among other things, our objectives, goals,
targets, strategies, intentions, plans, beliefs, estimates and
outlook, including, without limitation, our anticipated future
operating results, and can, in some cases, be identified by the use
of words such as "believe," "anticipate," "expect," "intend,"
"plan," "will," "may" and other similar expressions. In addition,
any statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements.
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.
Important factors that could cause actual results to differ
materially from these expectations include, among other things:
Kane's early stage of development, lack of product revenues and
history of operating losses, uncertainties related to clinical
trials and product development, rapid technological change,
uncertainties related to forecasts, competition, potential product
liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters,
management of growth, partnerships for development and
commercialization of technology, effects of insurers' willingness
to pay for products, system failures, dependence on key personnel,
foreign currency risk, risks related to regulatory matters and
risks related to intellectual property and other risks detailed
from time to time in Kane's filings with Canadian securities
regulatory authorities, as well as Kane's ability to anticipate and
manage the risks associated with the foregoing. Kane cautions that
the foregoing list of important factors that may affect future
results is not exhaustive. When relying on Kane's forward-looking
statements to make decisions with respect to Kane, investors and
others should carefully consider the foregoing factors and other
uncertainties and potential events.
These risks and uncertainties should be considered carefully
and prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what management
believes to be reasonable assumptions, Kane cannot provide
assurance that actual results will be consistent with these
forward-looking statements. Kane undertakes no obligation to update
or revise any forward-looking statement.
StrixNB™, DispersinB® and Aledex® are registered trademarks
of Kane Biotech Inc. All Rights Reserved 2014
Kane Biotech Inc.Gord FroehlichPresident &
CEO204-477-7592204-474-7552ir@kanebiotech.comwww.kanebiotech.com
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