Kane aims to disrupt global wound care hydrogel market with its first FDA cleared medical device and announces new partnerships and licensing agreements
Kane Biotech has announced several partnerships and licensing agreements in both wound care and animal health in 2023. The recent announcement of 510(k) clearance by the FDA for Kane’s coactiv+ Antimicrobial Wound Gel is the latest achievement by the company this year. It builds on agreements with ProgenaCare Global LLP (“ProgenaCare”) (United States) and Salud Pharma S.A. (Panama, Columbia and Costa Rica), which Kane anticipates future global distribution agreements.
Chronic wounds present a significant financial burden to the U.S. healthcare system. Studies of Medicare data estimate the cost to treat these wounds at between $28 billion and $96 billion. The treatment of chronic wounds is a major challenge for health care providers, with a high failure rate leading to amputation, sepsis, and death. One of the major reasons for this failure is the formation of bacterial biofilms, which are present in over 80% of chronic wounds. Biofilm formation can make bacteria up to 1,000 times more resistant to antibiotics, antimicrobial agents, disinfectants, and the host immune system. coactiv+ Antimicrobial Hydrogel will significantly increase the ability of healthcare clinicians to effectively treat chronic wounds and burns.
Recent Corporate Developments:
On May 25, 2023, the Company announced that it had received 510(k) clearance of its coactiv+ Antimicrobial Wound Gel from the FDA for the management of ulcers (including diabetic foot and leg ulcers and pressure ulcers), 1st and 2nd degree burns, partial & full thickness wounds, large surface area wounds and surgical incisions for adult populations.
On April 20, 2023 the Company announced that it had signed a distribution agreement with ProgenaCare for its coactiv+ Antimicrobial Wound Gel in the United States wound care market. ProgenaCare will have exclusive distribution rights in the United States wound care market for Kane’s coactiv+ Antimicrobial Wound Gel and Kane will receive a $500,000 USD upfront payment from ProgenaCare with 510(k) clearance from the FDA.
On April 18, 2023, the Company announced that it had signed a licensing agreement with Skout’s Honor for its patented coactiv+ technology in pet oral care applications. Skout’s Honor has been granted a ten-year license for the non-exclusive use of Kane’s coactiv+ technology under their own brand in North America while STEM will continue to commercialize its bluestem line of pet oral care products. STEM will receive a $500,000 USD licensing fee from Skout’s Honor to be paid over the course of the agreement as well as an ongoing royalty on all Skout’s Honor’s sales of products that use the coactiv+ technology.
On Jan 4, 2023, the Company announced that it had signed a distribution agreement with Salud Pharma for its coactiv+ Antimicrobial Wound Gel wound care and DermaKB scalp care products. Salud Pharma, through its distribution partners, will register and commercialize Kane’s coactiv+ Antimicrobial wound gel throughout Colombia, Panama, and Costa Rica via wound care centers and pharmacies and will also import and distribute Kane’s DermaKB (www.dermaKB.com) line of scalp detoxifier and shampoos.
To date, 2023 has seen Kane achieve three important milestones in the commercialization of its technologies. First, the licensing of Kane’s clinically proven pet dental care line to Skout’s Honor will accelerate expansion into the U.S. pet retail market. Skout’s Honor has built an enviable network of retailers across North America and their new dental line is expected to reach the shelves of the majority of US retailers, both big and small, by the end of this year.
Distribution agreements for Kane’s coactiv+ Antimicrobial Wound Gel were signed earlier this year with ProgenaCare in the United States bringing Kane’s effective, differentiated, and accessible product to the annual USD $200 million U.S. wound gel market and with Salud Pharma S.A covering Colombia, Panama and Costa Rica representing our first global distribution agreement in wound care.
The FDA clearance opens the door to additional markets throughout the world, while enabling Kane to use this first product clearance as a predicate product for additional 510(k) devices.
About coactiv+ Antimicrobial Wound Gel
coactiv+ Antimicrobial Wound Gel is indicated for management of ulcers (including diabetic foot and leg ulcers and pressure ulcers), 1st and 2nd degree burns, partial & full thickness wounds, large surface area wounds and surgical incisions for adult populations. It is also indicated for management of minor skin scrapes, minor cuts, minor lacerations, minor burns (1st degree burns) and abrasions for adult populations.
coactiv+ Antimicrobial Wound Gel is a white, odorless hydrogel that provides a moist wound environment conducive to wound healing. coactiv+ Antimicrobial Wound Gel can facilitate debridement through a moist wound environment. More info: coactivplus.com
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 Company has a portfolio of biotechnologies, intellectual property (80 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, bluestem®, silkstem, goldstem, coactiv+, coactiv+®, DermaKB and DermaKB Biofilm are trademarks of Kane Biotech Inc. The Company is listed on the TSX Venture Exchange under the symbol “KNE” and on the OTCQB Venture Market under the symbol “KNBIF”. More info: kanebiotech.com