Kane Biotech Inc.

Kane Biotech Inc.

June 29, 2011 12:17 ET

Kane Biotech Announces New Board Members

WINNIPEG, MANITOBA--(Marketwire - June 29, 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 that the following individuals have been elected to the board of directors; Philip Renaud (Chairman), Dr. Geoffrey Grant, Dr. Essam Hamza and Richard Cherney.

Mr. Philip Renaud is Managing Director of Church Advisors, a European investment advisory firm involved in private financings. A graduate of Franklin College of Switzerland with a Bachelor of Arts in international financial management, Mr. Renaud has been instrumental in securing many private equity financings and has an extensive European and North American network. Prior to his involvement with Church Advisors, Mr. Renaud was a founding partner of Change Capital Partners, a 300 million Euro private equity fund. He is also a director of a number of publicly traded companies including Yorbeau Resources Inc., Diagnos Inc. (currently Chairman) and Dia Bras Exploration Inc. (currently Chairman).

Dr. Geoffrey Grant is former Director of the Arlington Technology Incubator (ATI) at the University of Texas. Prior to joining ATI, Dr. Grant spent five years as senior manager, research and technology, University of North Texas Health Science Center, Fort Worth, where he led and managed all aspects of technology commercialization.

Dr. Essam Hamza is Chief Executive Officer and co-founder of Hamza Thindal Capital Corp., a capital markets advisory firm. In addition Dr. Hamza 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 helped emerging companies raise capital and build awareness over the past five years.

Mr. Richard Cherney is a co-managing partner of Davies Ward Phillips & Vineberg LLP and a member of the Corporate Finance & Securities, Life Science and Mergers & Acquisition practices. He has a varied practice, representing private and public companies, including many operating in the life science field. Mr. Cherney has been a key advisor to many of Canada's leading life science companies and regularly advises them on key points in their development. As well, he represents a number of national investment dealers in connection with financings of many of Canada's multinational corporations.

"The board, management and staff would also like to say thank you to Dr. Albert Friesen and Dr. George Zhanel, for their valuable contribution over the years in helping to build Kane Biotech into an organization that has been recognized as one of the world's top 10 most innovative companies in the biotech industry by FAST COMPANY magazine," stated Gord Froehlich, President and CEO of Kane Biotech. We wish both Dr. Friesen and Dr. Zhanel all the best in their future endeavors."

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Kane Biotech Inc.
    Kam Thindal
    604-566-9236 office
    604-488-9875 mobile