Kane Biotech Receives Approval from Health Canada for Hard SurfaceDisinfectant (ccnm)WINNIPEG, MANITOBA--(Marketwire - Oct. 12, 2011) - KaneBiotech Inc. (TSX VENTURE:KNE), a biotechnology company engaged in thedevelopment and commercialization of products that prevent and remove microbialbiofilms is pleased to announce that The Therapeutic Products Directorate ofHealth Canada has issued a Drug Identification Number (DIN) for KBIAntibacterial Disinfectant. The DIN provides approval to manufacture and marketKBI Antibacterial Disinfectant for the Canadian household domestic use market.
The Canadian household hard surface disinfectant market is estimated at $100million per year and has been driven by the recent outbreaks of infectiousdiseases caused by bacterial and viral pathogens throughout the world. The UShousehold disinfectant market is estimated at $1.5 Billion.
KBI Antimicrobial Disinfectant has a unique mode of action by breaking downthe polysaccharide matrix (biofilm) and thus making the exposed bacteria moresusceptible to the antimicrobial killing. KBI Antimicrobial Disinfectant hasbroad-spectrum antimicrobial activity against common pathogens such as bacteria,fungi and viruses. These pathogens include MRSA superbug, E. coliO157:H7, Klebsiella pneumoniae, Pseudomonas aeruginosa,Vancomycin-resistant Enterococci, Clostridium difficile,Acinetobacter spp.Salmonella spp., Candida albicans, Influenza A, H1N1,Hepatitis B and SARS virus.
All regulatory studies were completed following the Drug Submission guidelinerequirements of Health Canada for hard surface disinfectants.
"We are excited to have received Health Canada approval for our KBIAntibacterial Disinfectant for hard surface applications in the domestic marketand we are very appreciative of Therapeutic Products Directorate for theirthorough and timely review", stated Gord Froehlich, President and CEO of KaneBiotech. "This approval opens the door to a new market opportunity, and we lookforward to commercializing our first product and providing progress updates aswe move forward".
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the development andcommercialization of products to prevent and remove biofilms. Biofilms are amajor cause of a number of serious medical problems including chronic infectionsand medical device related infections. They develop on surfaces such ascatheters, prosthetic implants, teeth, lungs and the urogenital tract. Biofilmsare pervasive, costly to deal with and are involved in approximately 80% of allhuman bacterial infections. The healing of chronic wounds alone costs the UnitedStates health care system $20 Billion per year.
Kane Biotech uses patent protected technologies based on molecular mechanismsof biofilm formation/dispersal and methods for finding compounds that inhibit ordisrupt biofilms. The Company has evidence that these technologies havepotential to significantly improve the ability to prevent and/or destroybiofilms in several medical and industrial applications.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constituteforward-looking information within the meaning of applicable Canadian provincialsecurities legislation (collectively, "forward-looking statements"). Theseforward-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, andcan, in some cases, be identified by the use of words such as "believe,""anticipate," "expect," "intend," "plan," "will," "may" and other similarexpressions. In addition, any statements that refer to expectations, projectionsor other characterizations of future events or circumstances are forward-lookingstatements.
These statements reflect management's current beliefs and are based oninformation currently available to management. Certain material factors orassumptions are applied in making forward-looking statements, and actual resultsmay differ materially from those expressed or implied in such statements.Important factors that could cause actual results to differ materially fromthese expectations include, among other things: Kane's early stage ofdevelopment, lack of product revenues and history of operating losses,uncertainties related to clinical trials and product development, rapidtechnological change, uncertainties related to forecasts, competition, potentialproduct liability, additional financing requirements and access to capital,unproven markets, supply of raw materials, income tax matters, management ofgrowth, 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 regulatorymatters and risks related to intellectual property and other risks detailed fromtime 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 theforegoing. Kane cautions that the foregoing list of important factors that mayaffect future results is not exhaustive. When relying on Kane's forward-lookingstatements to make decisions with respect to Kane, investors and others shouldcarefully consider the foregoing factors and other uncertainties and potentialevents.
These risks and uncertainties should be considered carefully andprospective investors should not place undue reliance on the forward-lookingstatements. Although the forward-looking statements contained in this pressrelease are based upon what management believes to be reasonable assumptions,Kane cannot provide assurance that actual results will be consistent with theseforward-looking statements. Kane undertakes no obligation to update or reviseany forward-looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kam ThindalKane Biotech Inc.604-566-9236 office604-488-9875 mobilekam@puread.ca
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