Welcome to our dedicated page for Kane Biotech news (Ticker: KNBIF), a resource for investors and traders seeking the latest updates and insights on Kane Biotech stock.
Kane Biotech Inc. (KNBIF) is a leader in biofilm-disrupting technologies for advanced wound and scalp care. This page aggregates all official company announcements, providing stakeholders with timely updates on regulatory progress, product developments, and strategic initiatives.
Investors and industry professionals will find comprehensive coverage of FDA clearances, manufacturing partnerships, and global licensing agreements. Our curated news stream includes earnings reports, clinical advancements, and distribution expansions, ensuring you never miss critical developments affecting KNBIF's market position.
Key focus areas include updates about antimicrobial wound care solutions, scalp health innovations, and quality certifications like ISO 13485:2016. Bookmark this page for direct access to primary-source information about Kane Biotech's progress in combating biofilm-related health challenges worldwide.
Kane Biotech reported its Q4 and full-year 2024 financial results, announcing a strategic shift and leadership change. Q4 revenue reached $125,859, up from $57,788 in Q4 2023, while full-year 2024 revenue increased to $2.08M compared to $148,980 in 2023.
The company is narrowing its focus to four key wound care products under its coactiv+™ biofilm technology:
- revyve™ Antimicrobial Wound Gel (FDA and Health Canada approved)
- revyve™ Antimicrobial Wound Gel Spray (FDA approved)
- coactiv+™ Antimicrobial Surgical Hydrogel (2026 approval target)
- revyve™ Antimicrobial Wound Rinse (2026 approval target)
In leadership changes, Marc Edwards departed as CEO, replaced by interim CEO Dr. Robert Huizinga. The company secured $2.2M in funding through insider investments: $1.2M via private placement at $0.10 per share and a $1M unsecured loan. Cost reduction initiatives have been implemented, including reduced focus on DispersinB® development.
Kane Biotech (KNBIF) has received Internal Review Board (IRB) approval from the University of Miami Health System to begin a clinical study of their DispersinB® Acne Cleanser for treating mild to moderate Acne Vulgaris.
The study, titled 'Split-face efficacy and tolerability of DispersinB® Acne Cleanser in the treatment of mild to moderate Acne Vulgaris,' will be conducted at the University of Miami Miller School of Medicine. The trial is scheduled to commence by mid-2025 and will involve up to 24 subjects.
The research will take place at the Dr. Phillip Frost Department of Dermatology and Cutaneous Surgery, which is recognized as a global leader in skin condition treatments.
Kane Biotech (KNBIF) has secured a three-year distribution agreement with Best Buy Medical Canada for its revyve™ Antimicrobial Wound Gel product line. This strategic partnership follows Health Canada's approval of revyve™ in November 2024, marking a significant expansion in the Canadian healthcare market.
The company has been actively promoting the product's integration into Canadian healthcare systems through strategic partnerships, educational initiatives, and healthcare professional engagement. The distribution agreement aims to enhance accessibility of wound care solutions across hospitals, clinics, and long-term care facilities throughout Canada.
Kane Biotech's President & CEO Marc Edwards highlighted the partnership's dual benefit of improving access to innovative wound care solutions while capitalizing on significant financial opportunities in the Canadian wound care market.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) announced a webinar scheduled for January 23rd, 2025, where CEO Marc Edwards and Executive Chairman Dr. Robert Huizinga will discuss the company's 2025 outlook. The presentation will build on key 2024 achievements, including: the scale-up manufacturing of revyve™ Antimicrobial Wound Gel Spray, securing new US distribution partnerships, obtaining Health Canada Approval, and agreeing to acquire FB Dermatology to expand presence in EU, Australia, and New Zealand.
Notable 2024 milestones also included participation in NRC-IRAP projects, distribution agreements in UAE and Qatar, FDA approval for increased dosage allowance, ISO 13485:2016 MDSAP certification, and the $12.5M USD sale of STEM Animal Health to Dechra Veterinary Products. Additionally, Kane announced a six-month marketing service agreement with Outside The Box Capital for $100,000 to enhance their market visibility.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) has completed the first closing of its non-brokered private placement offering, issuing 12,750,000 shares at $0.10 per share, raising gross proceeds of $1,275,000. Insiders, including management and board members, acquired 3,700,000 shares ($370,000) of the offering.
The company paid finder's fees consisting of $32,100 cash and 321,000 broker warrants, exercisable at $0.15 per share for 18 months. The TSX Venture Exchange has extended the offering completion deadline to February 17, 2025. The proceeds will be used for working capital and general corporate purposes. All securities issued have a four-month and one-day hold period in Canada.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) announces a non-brokered private placement offering of up to 30,000,000 common shares at $0.10 per share, aiming to raise up to $3,000,000. The proceeds will be used for working capital and general corporate purposes. CEO Marc Edwards states this financing will help accelerate key commercial programs and scale operations, with the goal of achieving EBITDA positivity by end of 2025. The offering is subject to TSX Venture Exchange approval and includes potential finder's fees for introducing subscribers.
Kane Biotech reports significant Q3 2024 financial results, marking its first commercial sale of revyve™ Wound Gel. Total revenue reached $1,282,698, up from $27,003 in Q3 2023, with product sales of $597,677 and product services revenue of $685,021. Gross profit increased to $558,754, while net loss decreased 45% to $(678,636). The company secured multiple distribution agreements, received Health Canada approval for revyve™ Antimicrobial Wound Gel, and announced plans to acquire FB Dermatology. Additionally, Kane received MDSAP certification and was awarded NRC IRAP funding totaling $275,000 for research and development projects.
Kane Biotech announces that BioStem Technologies has signed a Letter of Intent to acquire exclusive US distribution rights for revyve™ Antimicrobial Wound Gel from current distributor ProgenaCare Global. The acquisition aligns with BioStem's strategy to expand its wound care portfolio and leverage its commercial infrastructure. BioStem aims to finalize definitive agreements within 60 days, subject to regulatory approvals and Board consent. Kane Biotech's CEO views this as an opportunity to significantly expand market penetration of revyve™ in the US market while completing commercial-scale manufacturing of both gel and spray products.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) has announced it will release its third quarter 2024 financial results after market close on November 28, 2024. The company will hold a conference call to discuss the results and business developments on December 3, 2024 at 4:30 p.m. ET. Participants are required to register for the call in advance, with recommended joining time being 10 minutes before the event. A webcast will be available on Kane Biotech's website in the Investor section.
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