Kane Biotech Receives New Funding from CanExport SMEs Program

- Funds to Support U.S. Launch of Kane Biotech’s Anti-Biofilm Shampoo -

WINNIPEG, Manitoba, June 24, 2020 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (the “Company” or “Kane Biotech”) today announced that it has been approved for up to $54,750 in funding from the Government of Canada’s CanExport SMEs program. Kane will use this funding to support the marketing costs associated with the U.S. launch of its Human Health anti-biofilm shampoo as well as to support international growth of its Animal Health business.

CanExport SMEs is a program delivered by the Trade Commissioner Service (TCS) of Global Affairs Canada in partnership with the National Research Council’s Industrial Research Assistance Program (NRC-IRAP). It provides direct financial assistance to small and medium-sized businesses registered in Canada in order to help them develop new export opportunities and markets.

“Having reported overwhelmingly positive results from our shampoo consumer product test last month, we are grateful to receive this funding, which will support the product’s launch in the U.S. later this year,” said Marc Edwards, President and Chief Executive Officer of Kane Biotech. “As we prepare to execute our U.S. launch strategy, we are looking forward to making our shampoo available to Canadians, via online direct-to-consumer sales, this summer.”

Kane Biotech’s shampoo was developed based on research indicating that the persistence of microbial biofilm may be linked with aggravating the symptoms associated with atopic dermatitis, seborrheic dermatitis (also known as eczema) and dandruff. The shampoo consists of coactiv+^TM, a patented anti-biofilm formulation, and contains ingredients approved as safe for human use.

About Kane Biotech Inc.

Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. The Company has a portfolio of biotechnologies, intellectual property (51 patents and patents pending, trade secrets and trademarks) and products developed by the Company's own biofilm research expertise and acquired from leading research institutions. StrixNB, DispersinB, Aledex, bluestem, silkstem, coactiv+ and Kane are trademarks of Kane Biotech Inc. The Company is listed on the TSX Venture Exchange under the symbol "KNE."