2012-11-20 14:36:36 -
WINNIPEG, MANITOBA -- (Marketwire) -- 11/20/12 -- 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 Notification Number "NN.W33A" from the Low Risk Veterinary Health Products (LRVHPs) program for the marketing of StrixNB in Canada. With the issuance of a notification number, the Company has cleared the final requirements and moves closer to market launch of StrixNB for the pet market in Canada.
North American Compendiums, in cooperation with Health Canada and the Canadian Animal Health Institute, has developed a notification program for low-risk veterinary health products used in cats, dogs, and horses. This program is an interim measure intended to assess the effectiveness of a streamlined approach to oversee LRVHPs with a view to informing the development of a new veterinary drugs regulatory framework.
"We are very pleased to obtain the LRVHP notification number and this combined with the excellent results from our veterinary clinic testing clears the path to launching our first product into the marketplace "stated Mr. Gord Froehlich, President and CEO of Kane Biotech. "We are in the process of assigning product manufacturing and distribution for the commercialization of StrixNB".
StrixNB is a patent pending unique oral care product that has synergistic antimicrobial and antibiofilm activity against bacteria associated with dental plaque, periodontal disease and halitosis (bad breath). This product inhibits plaque (biofilm) formation and also kills bacteria embedded in preformed dental plaque.
About Pet Oral Care
The pet oral care market in the US is estimated at $450 million per year. Dental disease is the number one oral disease in dogs and cats and about 95% of all dogs and cats will have dental disease. Bacteria in the mouth cavity form plaque and as the plaque builds up, the bacteria cause infection of the gum known as "gingivitis". As time passes, plaque hardens due to calcification to form "tarter", which holds the infection to the tooth surface and helps push bacteria and debris under the gum line. Periodontitis is an infection of the tooth root, which ultimately results in infected teeth. When periodontal infection starts, these bacteria get into the pet's circulation system eventually leading to heart, liver, kidney, bone and joint disease.
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.
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.
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.
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