Highlights: - Supplemental application and data submitted to expand label claims - Expanded claims to include Hospital, Food Processing, Institutional/Industrial sites - Global annual disinfectant market estimated to reach $2.9 Billion by 2017
WINNIPEG, MANITOBA--(Marketwire - Dec. 15, 2011) - 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 submitted a supplemental application and data on KBI Antibacterial Hard Surface Disinfectant to the Therapeutic Products Directorate of Health Canada for an amendment to already issued Drug Identification Number (DIN). The requested amendment is to expand the label claims to include additional sites of use such as Hospital, Food Processing, Medical Instruments, Institutional/Industrial and Barn.
This submission follows the Therapeutic Products Directorate issuance of DIN: 02374463 for KBI Antibacterial Disinfectant for the Canadian domestic market, which was previously announced.
"The submitted data package for Health Canada review includes the required supporting data on the efficacy of KBI Antibacterial Disinfectant against bacterial pathogens found in health care, food processing and institutional/industrial facilities" stated Gord Froehlich, President and CEO of Kane Biotech. "KBI Antimicrobial Disinfectant has a unique mode of action by breaking down the polysaccharide matrix (biofilm) thus making the exposed bacteria more susceptible to the antimicrobial killing in a global disinfectant market estimated to reach $2.9 Billion a year by 2017"
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.
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