- Kane Biotech (KNE) gets FDA clearance for its coactiv+™ antimicrobial wound gel
- The company hopes to disrupt global wound care hydrogel market
- The wound gel is an odorless hydrogel that gives a moist environment for wounds to heal promptly and properly
- The company sees this new ointment as an extreme positive given the stress that is placed on our health care system when it comes to wound care
- Kane Biotech (KNE) is up more than 4.50 per cent, trading at C$0.12 at 11:18 am EST
Kane Biotech (TSXV:KNE) receives 510(k) clearance of its coactiv+™ antimicrobial wound gel from the U.S. Food and Drug Administration for the management of ulcers, first and second degree burns, and more.
It can also be used for the management of minor skin scrapes, cuts, minor lacerations, minor burns and abrasions.
The wound gel is an odorless hydrogel that gives a moist environment for wounds to heal promptly and properly. coactiv+ Antimicrobial Wound Gel can facilitate debridement through a moist wound environment.
“This clearance also opens the door for a large number of global markets. Building on our previously announced agreements with ProgenaCare Global LLP and Salud Pharma S.A., we anticipate future global distribution agreements,” said Marc Edwards, President and Chief Executive Officer.
This latest news has put the company in line to receive a payment from ProgenaCare for $500,000, which it should receive by the end of the month.
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 company sees this new ointment as an extreme positive given the stress that is placed on our health care system when it comes to wound care.
A high failure rate of wound care can lead 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 per cent of chronic wounds.
coactiv+ Antimicrobial Hydrogel is able to increase the ability of healthcare clinicians to effectively treat chronic wounds and burns.
Kane Biotech is a biotechnology company working towards research, deveolopment and commercialization of technologies and products preventing and removing microbial biofilms.
Kane Biotech (KNE) is up more than 4.50 per cent, trading at C$0.12 at 11:18 am EST.
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