349% Year-over-Year Growth in October YTD Sales
WINNIPEG, Manitoba, Nov. 09, 2018 (GLOBE NEWSWIRE) — Kane Biotech Inc. (TSX-V:KNE, OTCQB:KNBIF), (the “Corporation” or “Kane Biotech”), today announced that it has experienced significant year-over-year growth in online sales of its bluestem™ brand of oral care products on Amazon. Combined sales on Amazon.com and Amazon.ca for October 2018 were $13,341 compared to $2,757 in October 2017, representing a 384% increase. For the year to date (YTD), Kane Biotech recorded $82,245 through October 2018 compared to $18,299 for the same period in 2017, representing a 349% increase. All amounts referenced herein are in Canadian dollars.
Marc Edwards, Kane Biotech’s Chief Executive Officer, stated, “We’re very proud to announce this exciting news illustrating the value and benefits our customers are realizing through our impactful product line. Not only can we demonstrate proven efficacy and safety through independent, third party clinical trials, but we’ll soon have the most comprehensive lineup of oral care products in the market, providing customers a truly optimal oral hygiene program for their pets. The fact that all of our products have also been notified under Health Canada’s Notification Program for Veterinary Health Products (VHP), a key regulatory acknowledgement of their safety profile, just adds to that customer confidence.”
Ray Dupuis, Chief Financial Officer, added, “We expect sales to continue holding strength through the Christmas period as we have made some strategic marketing investments on the Amazon platform for the holiday season. Furthermore, we expect sales from Amazon to accelerate in the new year as we expand our bluestem™ oral care line through new product launches, capturing more of the market share. We look forward to making additional announcements on our upcoming products in late November enabling us to serve customers with the most complete lineup of pet oral care products in the market.”
Further detail on Kane Biotech’s quarterly sales will be made publicly-available in the next quarterly financial results announcement.
About bluestem™
bluestem is the only pet oral care line of products that contain coactiv+ technology – scientifically developed to break down biofilm where harmful bacteria multiply. bluestem has been proven to help reduce tartar without brushing by up to 25.4%. According to the American Veterinary Dental Society, 80% of all dogs and cats will suffer from dental problems by the age of 3. bluestem oral care products contain 100% food-grade ingredients that are approved by Health Canada’s VHP program, as well as follow AAFCO guidelines. bluestem’s food-grade ingredients are alcohol-free, xylitol-free, chlorhexidine-free, and sugar-free.
In a Good Clinical Practice Efficacy study, sixty dogs had their teeth cleaned and their calculus measured. Half of the dogs were given bluestem™-treated water and the other half were given regular water. After 84 consecutive days of using bluestem™-treated water, the calculus score for the treated dogs was 25.4% lower than the control group. In a controlled Good Scientific Practice (GSP) study, the safety of the bluestem™ water additive was tested over 30 days with some dogs receiving 5 times the recommended dose. After 30 days, the test revealed no evidence of adverse effects related to the consumption of the water additive.
About Kane Biotech
Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms.
The Corporation has a portfolio of biotechnologies, intellectual property (75 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB®, Aledex®, bluestem™, AloSera™, coactiv+™ and Kane® are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol “KNE” and on the OTCQB Venture Market under the symbol “KNBIF”.
For more information, please visit www.kanebiotech.com or contact:
Ray Dupuis
Chief Financial Officer
Kane Biotech Inc.
+1 (204) 298-2200 ir@kanebiotech.com
Tirth Patel
Vice President – Investor Relations
Edison Advisors
+1 (646) 653-7035 tpatel@edisongroup.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities law. 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. These risks and uncertainties include, but are not limited to, risks relating to the Company’s: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its common shares, volatility of the market price of its common shares and public company costs. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at www.sedar.com. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.
These risks and uncertainties should be considered carefully undue reliance should not be placed 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, the Company cannot provide assurance that actual results will be consistent with these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement.