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17.11.2009 00:25

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Quick-Med Technologies Receives First Royalties for its NIMBUS® Wound Dressings

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Quick-Med Technologies, Inc. (OTCBB:QMDT) announced today that the Company has begun to receive royalty payments for its novel NIMBUS® non-leaching antimicrobial technology. The royalty payment is from Quick-Med licensee Derma Sciences, Inc. (OTCBB:DSCI) for initial sales of its BIOGUARD™ dressings.

The Company believes that BIOGUARD sales are off to a strong start. Royalties earned from late June to September 30, 2009 totaled more than $79,000 representing initial BIOGUARD sales of nearly $400,000. Quick-Med’s financial statements for the period ended September 30, 2009 reported only about $4,500 of the royalties as $75,000 was credited against the advance royalty fees the Company had previously received in accordance with the terms of the license agreement. There are no further credits against future royalty fees; all future royalties are to be reported as revenues.

The Company’s financial statements for the quarter ended September 30, 2009 also reflect modest revenues from BASF for sales of our MultiStat® compound as well as revenues from Avery Dennison for work under a Joint Development Agreement to develop medical grade NIMBUS adhesives.

MultiStat revenues were significantly lower than the same quarter last year. The Company believes that this may reflect prior experience that sales of the compound to cosmetics companies by BASF, the Company’s manufacturing and distribution partner, can fluctuate considerably by quarter and are susceptible to the inventory management practices of the retail sector. End sales of cosmetics products that contain MultiStat are ongoing, based on a continued presence of these products in retail outlets that is similar to that in prior years. Quick-Med’s Form 10-Q, filed on November 16, 2009, is available at www.sec.gov.

About BIOGUARD Wound Dressings

BIOGUARD dressings, which were introduced in June by Derma Sciences, 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.

NIMBUS is unique in that it is the only non-leaching antimicrobial wound dressing, which the Company believes 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 its design, NIMBUS poses minimal risk of bacteria developing resistance.

Quick-Med’s NIMBUS barrier gauze wound dressing received market clearance on February 25, 2009 from the U.S. Food and Drug Administration via FDA’s De Novo review process, a special clearance program for low-risk medical devices that are found to be "not substantially equivalent” to any predicate device. Derma Sciences reported first commercial sales in late June. NIMBUS technology is protected by nine Quick-Med 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.

© 2009 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® and MultiStat® are registered trademarks 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.

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