News and Announcements
Medikane FY16 Update: $500,000 Raised, Share Price Increased 22%, Appointing Distributors in India, Thailand, Sri Lanka, and Oman
- Published August 03, 2016 4:29PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
MediKane raised $500,000 recently which increased the share price by 22%.
Ex Hardie Exec VP Peter Baker joined the Board and Michael Goldman ex Diabetes Australia joined as Senior VP USA posted in New York.
The business is appointing distributors in India, Thailand, Sri Lanka, and Oman.
MediKane’s diabetes treatment NutriKane D appeared in the health segment on channel 7 News late 2015 and a constipation product, NutriKane + was just launched.
A clinical trial is being undertaken at Royal Melbourne Hospital to demonstrate that NutriKane D (diabetes product) lowers blood glucose levels. Results will be published in mid-2017.
ABOUT MEDIKANE
MediKane sells natural medical products for specific health conditions. Clinical trials performed by the Royal Melbourne Hospital demonstrated the efficacy of the product for treatment of gut health and recent trials by diabetes organisations have demonstrated its ability to modulate blood glucose levels. The product branded NutriKane, is registered as a food not a pharmaceutical. The sales launch was in November using five channels including hospitals, diabetes organisations and distributors direct to Health Care Professionals.
Gross Margins vary from 45 to 70 % depending on channel.
MediKane is raising funds for further market penetration and for trials to extend the product evidence base. The business will be cash positive within 6 months, or sooner with investor funds.
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