Kane Biotech Inc. reports developments tied to its antimicrobial wound care business, including commercialization of the revyve product line in the United States and Canada. The company is developing and marketing wound care treatments that target biofilms and wound bacteria, with revyve Antimicrobial Wound Gel, revyve Antimicrobial Wound Gel Spray, and revyve Antimicrobial Skin and Wound Cleanser holding U.S. FDA 510(k) clearance; the gel and gel spray are also approved by Health Canada.
Recurring news includes financial results, distribution and sales-agent agreements, regulatory and quality-system updates, and scientific publications or conference presentations involving chronic wound and burn care research. Company updates also discuss operating expenses, continuing operations, and the discontinued animal health contract manufacturing activities that have affected recent results.
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.
Kane Biotech has received Health Canada approval for its revyve™ Antimicrobial Wound Gel as a Class 2 Medical Device. This regulatory milestone enables the company to immediately begin marketing and selling the product in the Canadian market. The approval represents a significant step in Kane Biotech's strategic execution plan.
Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) has released a video featuring President & CEO Marc Edwards and Executive Chair Dr. Robert Huizinga discussing the recently announced FB Dermatology S.R.L. acquisition. The video presentation covers FB Dermatology's technology, product portfolio, market presence, and regulatory approvals, along with potential synergies between the two companies. This follows the initial acquisition announcement made on November 12, 2024.
Kane Biotech (KNBIF) has entered into a binding term sheet to acquire FB Dermatology, an Italian company with operations in Italy and Australia. The acquisition includes FB's FLETECH technology portfolio, featuring products like LumiHeal®, Kleresca®, and Lumixa® for wound care and dermatology applications. The purchase price includes $200,000 in cash at closing, 6 million Kane shares, 6 million warrants at $0.25, and potential future payments of $920,000 and $1,380,000 at 18 and 36 months respectively. The transaction is expected to close by January 31, 2025, expanding Kane's global commercial reach and strengthening its wound care portfolio.
Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) has announced its participation in a multinational corporate collaboration project. The company is receiving advisory services and up to $75,000 in funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) for this initiative.
The project aims to develop a Proof-of-Concept for Kane's DispersinB® Wound Gel. Kane will collaborate with one of the world's largest wound care companies over a six-month period. This collaboration is expected to accelerate the development of the DispersinB® Wound Gel technology.
In addition to this project, Kane Biotech recently secured advisory services and up to $200,000 in research and development funding from NRC IRAP to support the development of three additional products based on the company's revyve™ Antimicrobial Wound Gel technology.
Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) has announced its participation in several upcoming wound care conferences to showcase its revyve™ Antimicrobial Wound Gel and revyve™ Antimicrobial Wound Gel Spray products. The company will attend:
- Symposium on Advanced Wound Care (SAWC) in Las Vegas, Nevada (October 2-5, 2024)
- Wounds Canada National Hybrid Conference in London, Ontario (October 17-19, 2024)
- Canadian Burn Conference in Niagara-on-the-Lake, Ontario (October 18-20, 2024)
- Gulf Diabetic Foot Conference in Kuwait City, Kuwait (November 15-16, 2024)
At these events, Kane Biotech will present research on the antibiofilm properties of its products and have booth presence to demonstrate the scientific benefits of the revyve™ product line to wound care practitioners.