World News: 13:30 GMT Friday 9th November 2018. [Kane Biotech Inc. via Globe Newswire via SPi World News]
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.
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.
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”.
Tirth PatelVice President - Investor Relations Edison Advisors+1 (646) 653-7035 firstname.lastname@example.org
Globe Newswire: 13:30 GMT Friday 9th November 2018
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