Kane Biotech Inc.
TSX VENTURE : KNE

Kane Biotech Inc.

August 30, 2011 08:00 ET

Kane Biotech Files New Patent on Bone Tissue Regeneration Invention

WINNIPEG, MANITOBA--(Marketwire - Aug. 30, 2011) -

Highlights:

  • Invention and patenting of a new bone tissue regenerating technology
  • Global annual market for bone tissue regeneration is over $32 billion per year
  • Invention has potential to be used in combination with existing bone tissue regenerating products

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 the invention and patenting of a new bone tissue regenerating fusion peptide based on the Company's competence stimulating peptide (CSP) oral care technology.

This new patent covers the invention of a unique combination product using the Company's CSP technology to help grow bone cells by enhancing bone cell binding and bone tissue regeneration.

The invention can be used for: (i) osteogenic cell binding for repairing the dental bone defects such as those caused by bone loss resulting from moderate to severe periodontitis, (ii) filling tooth extraction sites or sinus elevation grafting, (iii) treatment of fractures, (iv) using as a filler in bone, (v) prevention of decrease in the bone substance related to osteoporosis, and (vi) prevention of fractures associated with osteoporosis and rheumatoid arthritis.

The global market for bone tissue regeneration is over $32 billion a year. This includes dental bone grafts, osteoporosis, osteoarthritis and rheumatoid arthritis. The dental bone graft global market alone is estimated at $266 million per year.

"This exciting new invention gives us the opportunity to discuss our technology platforms in a new global market as we continue to focus our near term resources and attention on DispersinB®," stated Mr. Gord Froehlich, President and Chief Executive Officer of Kane Biotech.

"In addition to antimicrobial activity against dental cavity and periodontal diseases associated bacteria, we are excited to learn our CSP-based technology has potential to be used in combination with bone tissue regenerating products for the treatment of diseases and defects related to bone loss and bone regeneration," added Mr. Froehlich.

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 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 cost 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.

The TSX Venture Exchange nor its Regulation Services Provider (as the 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
    kam@puread.ca