Quick-Med Technologies Expands NIMBUS® License for Derma Sciences' BIOGUARD™ Wound Dressings
Provides Broader Platform for Advancing Novel NIMBUS
Technology
in the Fast Growing Antimicrobial Wound Dressing Market
Gainesville, Florida - February 16, 2010 - 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.
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