WINNIPEG, Manitoba --(Marketwired – May 11, 2015) - Kane Biotech Inc. (TSX-V:KNE), a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms today announced Gord Froehlich will retire as Chief Executive Officer. The Board has appointed Mark Ahrens-Townsend as President and CEO to replace Froehlich, effective May 11, 2015.
Philip Renaud, Board Chairman states "Mark brings executive expertise in the areas of strategy, planning, business development and corporate growth. The Board felt Mark's experience and proven leadership capabilities were the right fit for Kane Biotech to commercialize its extensive inventory of intellectual property in biofilms. We welcome Mark and look forward to working with him and the entire Kane Biotech management team."
Philip added, "We sincerely thank Gord for his service, hard work and significant contributions given to Kane Biotech over the years. We appreciate Gord's leadership and the many important strategic initiatives he has driven for the Company."
In announcing his retirement Gord Froehlich stated, "It has been a privilege to work with a very dedicated and experienced team at Kane Biotech. It has also been a pleasure to work with the Directors of our Board who are engaged in the business and have offered me great support and guidance. I look forward to relaxing and seeing Kane Biotech's business grow and I am confident that Mark and the team at Kane will continue to move our Company forward."
Mark Ahrens-Townsend commented on his appointment, "I am honored and excited about the opportunity to lead Kane Biotech through its next phase. The Company has a strong history of technical innovations in biofilms that have significant opportunities in a variety of products, applications and industries. I look forward to working with Kane Biotech's talented and dedicated employees and Board to help build profitable growth producing value for shareholders, customers, and employees alike."
About Kane Biotech Inc.
Kane Biotech is a biotechnology company engaged in the development and commercialization of products that prevent and remove biofilms. Biofilms develop when bacteria and other microorganisms form a protective matrix that acts as a shield against attack. When in a biofilm, bacteria become highly resistant to antibiotics, biocides, disinfectants, high temperatures and host immune responses. This resiliency contributes to human health problems such as recurrent urinary tract infections, medical device associated infections and tooth decay.
Kane Biotech uses patent protected technologies based on molecular mechanisms of biofilm formation/dispersal and methods for finding compounds that inhibit or disrupt biofilms. The Company has evidence that these technologies have potential to significantly improve the ability to prevent and/or destroy biofilms in several medical and industrial applications.
For more information, please contact:
Mark Ahrens-Townsend, President & CEO
Kane Biotech Inc.
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Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
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. Important factors that could cause actual results to differ materially from these expectations include, among other things: Kane's early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Kane's filings with Canadian securities regulatory authorities, as well as Kane's ability to anticipate and manage the risks associated with the foregoing. Kane cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Kane's forward-looking statements to make decisions with respect to Kane, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance 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, Kane cannot provide assurance that actual results will be consistent with these forward-looking statements. Kane undertakes no obligation to update or revise any forward-looking statement.
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