Kane Biotech Inc.

Kane Biotech Inc.

February 01, 2011 08:00 ET

Kane Biotech Sells First Set of DispersinB® ELISA Kits to MIT, University of Toronto and University of Washington

WINNIPEG, MANITOBA--(Marketwire - Feb. 1, 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 the Company has successfully developed the DispersinB enzyme-linked immunosorbent assay (ELISA) kit. MIT (Massachusetts Institute of Technology), the University of Toronto and the University of Washington are the first to have purchased and received kits. This kit will be used for detection and quantification of minute quantities of DispersinB.

"Since DispersinB is active in nano or micro grams the DispersinB monoclonal antibody (MAb) based specific ELISA kit will be very useful in studying the release kinetics of DispersinB enzyme in wound care products and medical device coatings that release trace amounts of enzyme," stated Dr. Sri Madhyastha, Vice President, Research and Chief Scientific Officer of Kane Biotech.

Dr. Hammond's group at MIT will be using the DispersinB ELISA kit for studying the release kinetics of DispersinB used in combination with an antimicrobial peptide in their Layer-By-Layer technology based wound healing film. Dr. Nitz at the University of Toronto will be using the kit for measuring nanograms of DispersinB to be used in developing a rapid, sensitive and specific assay for DispersinB enzyme activity. Dr. Bryers lab at the University of Washington will be using the ELISA kit to study the release kinetics of DispersinB in polymer beads developed for delivering antimicrobial agents.

"This ELISA kit is a valuable tool that is now available to research organizations all over the world who are using DispersinB as a research tool and studying DispersinB for wound care and medical device applications," stated Gord Froehlich, President and CEO of Kane Biotech.

About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial 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 medical device and wound 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) accepts responsibility for the adequacy or accuracy of this release.

Contact Information