Kane Biotech Inc. (OTCMKTS:KNBIF) has formally signed on collaboration agreements with Dr. James Doub, MD, Assistant Professor of Medicine, University of Maryland School of Medicine’s Institute of Human Virology, and the University of Texas Medical Branch (UTMB).
Market Reaction
On Friday, KNBIF stock moved down 3.50% to $0.0965 with 28.9k shares, compared to its average volume of 7.99K shares. The stock moved within a range of $0.0965 – 0.1024 after opening trade at $0.0988.
Kane Biotech Announces New Collaboration Agreements for Prosthetic Joint Infection, expanding its DispersinB® applications
The purpose of these agreements is to study the usage of DispersinB with Prosthetic Joint Infection (PJI) patients. The group is working to secure funding from the National Institutes of Health (NIH) for pre-clinical work to be done by Josh Wenke, a Professor in the Department of Orthopedic Surgery and Rehabilitation at UTMB.
Prosthetic Joint Infections is one of the extreme complications associated with joint replacement surgery. It is estimated that around 1% to 2% of all prostheses will become infected over the life of the implant. Treating these infections involves an exorbitant financial burden. Moreover, patients have significant morbidity and mortality as a direct result of the current medical and surgical management to treat these infections.
The collaboration couldn’t have come at a better time. It is of the utmost importance to develop suitable strategies for managing musculoskeletal infections and finding cures for the debilitating morbidity associated with PJI. Marc Edwards, CEO of Kane Biotech, is hopeful that the results will be promising and benefit patients worldwide.
Key Quote
“These collaborations are of utmost importance given our shared strategies for managing complex musculoskeletal infections and finding cures for the debilitating morbidity associated with PJI. We are highly optimistic of advancing this field scientifically and clinically for the benefit of patients across the globe” said Marc Edwards, CEO of Kane Biotech.
Traders Review
KNBIF stock is trading below the 20-Day and 50-Day Moving averages of $0.1160 and $0.1201 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1339.
