- Kane Biotech Inc.’s (KNE) joint venture has been awarded the Veterinary Oral Health Council (VOHC) seal of acceptance
- This brings approximately $1.3 million in milestone payments from licensing partners
- The joint venture’s (STEM) pet oral care products use Kane’s coactiv+™ technology
- STEM has a global license over Kane’s existing range of animal health oral care products
- Kane Biotech Inc. (KNE) is down 8.00 per cent and is trading at $0.115 per share as of 2 p.m. ET
Kane Biotech (KNE) joint venture, STEM Animal Health has received the Veterinary Oral Health Council (VOHC) seal of acceptance.
STEM Animal Health received the seal of acceptance for its pet oral care water additive.
VOHC acceptance triggers approximately $1.3 million in milestone payments from STEM’s licensing partners. The certification is also expected to significantly increase royalty revenues from both licensing agreements as it generates minimum royalty payments.
STEM’s pet oral care products have been developed using Kane’s coactiv+™ technology, which inhibits tartar formation and kills bacteria embedded in preformed dental plaque.
Kevin Cole, CEO of STEM, commented,
“VOHC acceptance is expected to be a major catalyst for STEM’s growth… The global pet oral care market is a multi-billion-dollar market that is underdeveloped and with VOHC’s acceptance of our water additive, we look forward to continuing to work with our licensing partners to help improve the quality of our pets’ oral care, and to accelerate STEM’s growth.”
In September 2020, Kane formed STEM as a joint venture with Animalcare Group Plc. STEM is dedicated to treating biofilm-related ailments in animals.
STEM has a global license over Kane’s existing range of animal health oral care products and in collaboration with Animalcare focuses on the research and development of novel animal treatments based on biofilm targeting technology. Kane has a two-thirds interest in STEM with the balance owned by Animalcare.
Kane Biotech Inc. (KNE) is down 8.00 per cent and is trading at $0.115 per share as of 2 p.m. ET.