12:30 PM EDT, 06/27/2024 (MT Newswires) -- Kane Biotech ( KNBIF ) said Thursday it made its first commercial-scale sale of revyve antimicrobial wound gel product to ProgenaCare Global.

Kane said it has now completely fulfilled its obligation related to the US$500,000 initial manufacturing scale up fee that it received upon signing an exclusive distribution agreement for the US wound-care market in May 2023, after receiving U.S. Food and Drug Administration clearance for the gel.

Kane said it has been working with Halo Pharma on the technology transfer and manufacturing scale-up phases of product commercialization. The two companies signed a four-year commercial manufacturing services agreement with Halo Pharma to manufacture revyve.

"There has been a significant buildup of interest and demand for revyve amongst ProgenaCare's customers as well as Kane's existing and potential distributor network globally," chief executive Marc Edwards said.

Kane's shares were last seen up $0.01 to $0.15 on the TSX Venture Exchange.

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