Sept 28 (Reuters) - Kane Biotech Inc KNE.V :
* KANE BIOTECH AND ANIMALCARE TO FORM ANIMAL HEALTH COMPANY TO TARGET BIOFILM-RELATED AILMENTS
* KANE BIOTECH INC - ENTERED INTO AGREEMENT WIT ANIMALCARE GROUP PLC UNDER WHICH PARTIES WILL FORM STEM ANIMAL HEALTH INC.
* KANE BIOTECH - UNDER AGREEMENT ANIMALCARE TO INVEST $3 MILLION IN INSTALLMENTS OVER 48 MONTHS TO BUY A ONE-THIRD PLUS ONE SHARE EQUITY INTEREST IN STEM
* KANE BIOTECH INC - ANIMALCARE WILL HAVE LICENSING RIGHTS OVER FUTURE STEM PRODUCTS IN EUROPE AND ASIA
* KANE BIOTECH INC - ANIMALCARE WILL HAVE OPTION, FOR PERIOD OF 6 YRS, TO ACQUIRE ADDITIONAL ONE-SIXTH STAKE IN SUBSIDIARY FOR $4 MILLION, PAYABLE TO CO