Kane Biotech Inc.
TSX VENTURE : KNE

Kane Biotech Inc.

May 06, 2011 08:00 ET

Kane Biotech Announces Changes to the Board of Directors

WINNIPEG, MANITOBA--(Marketwire - May 6, 2011) - Kane Biotech Inc. (TSX VENTURE:KNE), a biotechnology company developing and commercializing products that prevent and disperse microbial biofilms, announces today the appointment of Dr. Essam Hamza to the Board of Directors and the resignation of Mr. Peter de Visser from the Company's Board of Directors.

Dr. Hamza was previously appointed as an adviser to Kane Biotech Inc.'s Board of Directors on November 2, 2010. Dr. Hamza is Chief Executive Officer and co-founder of Hamza Thindal Capital Corp., a capital markets consulting company. In addition he has been a family physician for the past 11 years in British Columbia and Alberta, Canada. He is a graduate from the University of Alberta with a medical degree and an honours degree in biochemistry. Dr Hamza has been a very successful investor in the Canadian market for the past 20 years and has helped emerging companies raise money over the past five years.

"On behalf of the Board, I am pleased to welcome Essam as a director and we look forward to his knowledge of the capital markets and extensive network in the investment community," stated Dr. Albert Friesen, Chairman of Kane Biotech Inc.

"The board joins me in saying thank you to Peter, for his tireless efforts in helping to build Kane Biotech into an organization that has recently been named by Fast Company as one of the top 10 most innovative companies in the biotech industry in its annual list of the worlds most innovative companies and is poised for continued significant growth. I and the entire Kane team appreciate Peter's outstanding contributions to the Board of Directors," added Dr. Friesen.

About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the development of products to prevent and disperse biofilms. Biofilms develop when bacteria and other microorganisms form a protective matrix that acts as a shield against attack. When in a biofilm, bacteria become highly resistant to antibiotics, biocides, disinfectants, high temperatures and host immune responses. This resiliency contributes to human health problems such as recurrent urinary tract infections, medical device associated infections and tooth decay.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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