11:06 AM EDT, 06/25/2024 (MT Newswires) -- Kane Biotech ( KNBIF ) on Tuesday said it entered into a worldwide license agreement with Montreal-based I-MED Pharma for the DispersinB technology.

Kane, which specializes in treatments for microbial biofilms. said the agreement is the first for its DispersinB product.

Biofilm is a contributor to Meibomian gland dysfunction and dry eye blepharitis syndrome. The DispersinB enzyme will be used to enhance I-MED's line of eye care products. The license agreement is for five years and includes minimum annual royalties, which will start in 2025, the company said.

"This agreement is significant for Kane as it represents the first commercial agreement for DispersinB," chief executive Marc Edwards said in a release.

Kane shares were last seen down $0.01 to $0.135 on the TSX Venture Exchange.

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