SIOUX FALLS, South Dakota, May 8, 2017 /PRNewswire/ --
Kasten, Inc. (OTC Pink: KAST) announces that the past few weeks have been a very exciting time for Kasten/DAKOTA Life Sciences. The merger brought the DAKOTA experience in the life sciences sector, proprietary technologies, and multiple ready-for-market pharmaceutical products. This includes DAKOTA's prescription development pipeline that is quite advanced in several product areas.
The Kasten team brings considerable relationships and experience in product sales and marketing, as well as a capital markets capability to direct our future growth. The merger resulted in a capital restructuring that retired 107 million existing Kasten common shares. After giving effect to the merger with Dakota, Kasten has approximately 62 million shares outstanding.
We expect that our first consumer launch will be in the area of Over-The-Counter (OTC) medication for fungal infections of toenails. Our patent and trademark ownership related to the proprietary compound known as the Thin-Nail® antifungal cream enables a dramatic improvement to toenail treatments. ThinNail OTC is designed to rapidly kill fungal infections in the toenail through its proprietary penetration of the nail to effectively deliver drug where it is most needed.
The inventor of the ThinNail® medication we use for the toenail fungal infections, Dr. Lorri Riley, is a well-respected podiatrist with an active medical and research podiatry practice. She has worked closely with our Company since we acquired her intellectual property several years ago.
The Company continues its progress on a prescription version of the ThinNail product. This patented Rx product is designed to be radically effective compared to other prescription products. Our technology enables us to kill the more serious cases of toenail fungal infection (known by its medical term as "onychomycosis") and to do so in about half the time, with less cost and less drug exposure to the consumer than existing products.
Another 2017 product release is expected to be in the topical antimicrobial (antibiotic) space. The continuing global challenges posed by resistant bacteria requires a sophisticated medical response. Our Company addresses this critical need with a proprietary drug delivery system that we refer to as Site Specific Penetration Technology ("SSPT™"). This delivery system enables certain legacy antibiotics to perform as if they were newly developed, and to be highly effective against resistant infections.
The SSPT drug delivery system will also be used in our prescription antibiotic that is advancing through development. Following FDA approval, our prescription antibiotic with our unique SSPT delivery system will address the large population of people with diabetic foot ulcers.
This year should see an exciting launch of products, as well as a likely site selection for future operations. Our goals are to deliver superb results to the consumers of our products as a pre-requisite to enhancing shareholder value. Thank you for your ongoing support. Steven J. Keough, President.
About Kasten, Inc.
Kasten, Inc. (OTC Pink: KAST) is a biopharmaceutical company focused on the acquisition, development, and commercialization of pharmaceuticals designed to prevent and treat serious conditions arising both in hospital and community settings. We are principally focused on delivering solutions to those people who cannot afford to miss a day of work, but who are burdened by high risk of morbidity and healthcare costs.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Kasten, Inc. undertakes no obligation to update such statements.
Kasten Inc./DAKOTA Life Sciences
SOURCE Kasten Inc.