Media Coverage

Kane Biotech adds CFO with exit plan experience

Sep 29, 2017 - Animal Pharm
By Joseph Harvey
Animal Pharm
September 29, 2017

Canadian biofilm removal specialist Kane Biotech has appointed a new chief financial officer with experience of building companies up for acquisition.

Ray Dupuis has joined the Winnipeg, Manitoba-based business, which is building a commercial platform for its technologies across animal health, human health and the industrial sector. Mr Dupuis will lend the firm over 25 years of financial leadership experience across a wide range of industries.

His background features 15 years at Cangene, a former Canadian biotechnology company. Like Kane Biotech, Cangene was also established in Winnipeg and similarly listed on the Toronto Stock Exchange. During his time at Cangene, where he served as senior director of finance, the company grew from $12 million in annual revenues to almost $240m of sales per year. The firm was purchased in 2014.

Most recently, Mr Dupuis was the chief financial officer at Seccuris – an information technology security company acquired by Hitachi in 2015.

Kelly de Groot had been serving as Kane Biotech's interim chief financial officer after Audrey Goertzen left the role.

The company specializes in technologies designed to prevent and remove microbial biofilms. When bacteria are contained in a biofilm, they become highly resistant to antibiotics, biocides, disinfectants, high temperatures and host immune responses. This contributes to numerous animal health problems such as wound care infections, recurrent urinary tract infections, tooth decay and food-borne bacterial infections.

Kane's StrixNB line of products, which includes water additives, an oral spray and a toothpaste, are designed to fight plaque and tartar in dogs and cats. The products were commercialized in 2014 and are available exclusively in veterinary clinics. Earlier this year, Dechra Pharmaceuticals secured exclusive North American rights to Kane Biotech's StrixNB and DispersinB products.

DispersinB is a dermatological formulation to protect the coat and skin of dogs and horses against atopic dermatitis. The product is effective on methicillin-resistant Staphylococcus pseudintermedius and Malassezia pachydermatis growth, as well as biofilm formation.

The firm will be hoping greater market penetration, through deals such as the one with Dechra, will help spirit life back into its ailing share price. Kane shares on the Toronto Stock Exchange have failed to trade higher than Can$1 each since 2008.

Reprinted with permission of Animal Pharm News







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