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Be the first with the news that moves the market- Kane Biotech (TSXV:KNE) has received an award of C$3.67 million from the US Department of Defense for its DispersinB wound treatment product
- The funding was provided under the department’s Medical Technology Enterprise Consortium Research Project Award
- The proceeds will allow the company to continue the clinical development of DispersinB to treat bio-oil mediated antimicrobial resistance in the healing of chronic wounds
- Treating chronic wounds is a major challenge for health care providers, with a high failure rate leading to amputation, sepsis and death
- Kane Biotech (KNE) is currently up 15.63 per cent smf id trading at 18 cents per share at 3:40pm EDT
Kane Biotech (TSXV:KNE) has received an award of C$3.67 million from the US Department of Defense for its DispersinB wound treatment product.
The funding was provided under the department’s Medical Technology Enterprise Consortium Research Project Award.
The award was created to assists organisations in accelerating the development of medical solutions to prevent and treat injuries among military personnel.
As such, the company will be able to bolster the clinical development of DispersinB to treat biofilm-mediated antimicrobial resistance in non-healing chronic wounds.
Marc Edwards, President and CEO of Kane Biotech, said the receipt of the award is a significant step for the company.
“We are thrilled to receive this MTEC Award, which we believe is a testament and preliminary validation to both the DispersinB technology as well as the dire need for a non-healing chronic wound treatment.
“This award is transformative for our human health business and will support our work to identify the product’s optimal development and regulatory approval path,” he added.
The treatment of chronic wounds presents a significant challenge for the US healthcare system, both practically and financially. According to a 2018 study of Medicare data, the cost of treating chronic wounds during the year was estimated to be between $40 billion and $47 billion.
Failure to successfully treat these wounds can results in amputation, sepsis and even death. This is largely due to the formation of bacterial biofilms, which are present in approximately 60 per cent of chronic wounds.
The biofilms can make bacteria up to 1,000 times more resistant to antibiotics, antimicrobial agents and disinfectants.
As such, anti-biofilm technologies like DispersinB have a significant potential to increase the ability of healthcare providers to effectively treat wound infections.
Kane Biotech (KNE) is up 15.63 per cent and is trading at 18 cents per share at 3:40pm EDT.
