Quick-Med Technologies, Inc. (OTCBB:QMDT) announced today that it has
amended its Patent and Technology License Agreement with Derma Sciences,
Inc. (NASDAQ:DSCI) to grant Derma Sciences rights to use NIMBUS®
technology in an expanded range of wound dressings formats marketed by
Derma Sciences under its BIOGUARD™ trademark. The amendment also adjusts
minimum royalties, provides terms for Derma Sciences entering into a
private-label contract, and extends the term of the License for an
additional three years subject to Derma Sciences meeting certain
milestones and performance requirements.
"Quick-Med is excited to enter into this amended license agreement with
Derma Sciences. Derma Sciences has successfully demonstrated its ability
to quickly commercialize our proprietary NIMBUS technology and the
expanded grant of rights provides Derma with important additional
products,” noted J. Ladd Greeno, Quick-Med’s CEO. "We are very pleased
that a wider range of dressings with NIMBUS technology will soon be
distributed by Derma Sciences.”
Quick-Med expects NIMBUS to become an important technology in the $14
billion global wound care market as wound care companies and health care
professionals look for more effective and efficient ways to prevent
infections and avoid cross-contamination. The aging population will
continue to drive significant growth in the wound care market while
continuing attention on reducing hospital infection rates will
accelerate the push for cost-effective antimicrobial dressings.
NIMBUS is the first non-leaching antimicrobial available in a wound
dressing. It received U.S. Food and Drug Administration clearance in
February, 2009 and Derma Sciences introduced its BIOGUARD dressings in
June 2009. BIOGUARD dressings are the first wound care products to
feature Quick-Med’s novel, FDA-cleared NIMBUS technology. The dressings
serve as a barrier to infection, kill germs absorbed into the dressing,
and do not interfere with tissue healing. The NIMBUS active agent
maintains effectiveness even in the presence of large amounts of
proteinaceous exudates.
The Company believes that being the only non-leaching antimicrobial
dressing is an important distinction; other antimicrobial dressings rely
on the release of chemicals to the wound bed that can impede the wound
healing process. By design, NIMBUS poses no risk of bacteria developing
resistance. NIMBUS technology is protected by nine U.S. patents and
patents pending and 24 foreign counterparts.
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company that is
developing innovative technologies for the healthcare and consumer
markets. Quick-Med is developing NIMBUS applications in several other
advanced wound dressing formats including adhesives, foams, hydrogels,
films, and hydrocolloids. For more information, see: www.quickmedtech.com.
© 2010 Quick-Med Technologies, Inc. All rights reserved. NIMBUS®
is a registered trademark of Quick-Med Technologies, Inc. BIOGUARD™
is a trademark of Derma Sciences, Inc.
Forward-looking statements (statements which are not historical
facts) in this release are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. For this
purpose, any statements contained in this release that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limiting the generality of the foregoing, words such
as "may", "will", "to", "expect", "plan", "believe", "anticipate",
"intend", "could", "would", "estimate", and/or "continue" or the
negative or other variations thereof or comparable terminology are
intended to identify forward-looking statements involve risks and
uncertainties, including those risks that are discussed in the Company's
filings with the Securities and Exchange Commission ("SEC"), which may
be accessed at the SEC's Edgar System at www.sec.gov.
