WINNIPEG, Manitoba, May 15, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company”, “Kane” or “Kane Biotech”) announces its intent to commercialize the patented assay which is to be named the Schultz Biofilm Wound Map in honour of the late Dr. Greg Schultz, former Professor Emeritus at the University of Florida and Chief Science Officer of Kane.

The Schultz Biofilm Wound Map is the first and only in vitro detection kit for biofilms in the wound bed, which shows their relative location taken from an imprint of the wound bed. Dr Schultz was the first inventor of a patented biofilm wound map for assessing and mapping microbes and microbial biofilms in wounds.

On April 12, 2024, staff and associates of Kane were shocked and saddened to be informed of Greg’s sudden passing. Greg was a world-renowned expert on wound care and biofilms. Greg joined Kane in 2022 and in his short time with the Company, helped establish Kane Biotech as “THE Biofilm Company”. Greg helped lead the way in advancing the development and commercialization of Kane’s coactiv+™ and DispersinB^® technologies as part of his ongoing search for the solution to the biofilm problem in healthcare. He was instrumental in the development of Kane’s revyve™ Antimicrobial Wound Gel for the treatment of chronic, non-healing wounds. Greg’s work has also laid the foundation for future solutions to biofilms in wounds and his contributions will be realized for decades to come.

“Greg was not just a revered colleague but a very dear and respected friend. After working closely together for over two years, Greg could still captivate us all with his unprecedented enthusiasm and breadth of knowledge. He was a brilliant, kind, and generous man who has touched so many lives. It was an honour and a privilege to work with Greg and to get to know him personally,” expressed Marc Edwards, President and CEO of Kane Biotech. “Greg’s contributions to the global wound care community and Kane Biotech are immense and will not be forgotten,” said Mr. Edwards. “The Schultz Biofilm Wound Map is an important tool in the identification and location of microbial biofilms in chronic wounds and is a fitting tribute to his legacy.”

About Kane Biotech

Kane Biotech Inc. is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. Kane has a portfolio of biotechnologies, intellectual property (67 patents and patents pending, trade secrets and trademarks) and products developed by Kane's own biofilm research expertise and acquired from leading research institutions. StrixNB™, DispersinB^®, Aledex™, coactiv+™, coactiv+^®, DermaKB™, DermaKB Biofilm™, and revyve™ are trademarks of Kane Biotech Inc. Kane is listed on the TSX Venture Exchange under the symbol "KNE" and on the OTCQB Venture Market under the symbol “KNBIF”.

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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 Kane’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 Kane 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 Kane with applicable securities regulatory authorities, available at www.sedarplus.ca. Kane cautions that the foregoing list of factors that may affect future results is not exhaustive.