Message #1 From:
NewsBot Date: March 26, 2007 01:17:00 PM
QMDT News Quick-Med Technologies' Lead Molecule Ilomastat Selected for Evaluation in Sulfur Mustard Gas Grant from NIH
GAINESVILLE, Fla.--(BUSINESS WIRE)--Quick-Med Technologies, Inc. (OTCBB:QMDT) ("Quick-Med Technologies" or the "Company") announced today that its compound, Ilomastat, has been selected as the lead drug for development of a post injury agent for sulfur mustard gas exposure in a recently funded grant from the National Institutes of Health (“NIH”). Presently, there is no known treatment for a vesicant chemical attack, such as sulfur mustard gas.
The University of Florida (“UF”) received about $2.6 million of an $18 million grant recently funded by the NIH to complete two parts of the project, a joint effort between UF and the Lovelace Biomedical and Environmental Research Institute (“Lovelace”). One UF project will be to analyze data collected at Lovelace to find the drug that best blocks skin, lung and eye damage from sulfur mustard exposure. The most promising drug at this point is ilomastat, a molecule developed in a joint effort between Quick-Med Technologies and UF. Used extensively in World War I, and documented in 11 subsequent conflicts, most recently by Iraq against its own citizens and against Iran, mustard gas rarely kills, but it can cause serious blistering and damage to the skin, lungs and eyes.
“Sulfur mustard is evaluated by the CIA as the most likely chemical agent to be used by terrorists,” said Gregory Schultz, Ph.D., Vice President of Clinical Research for Quick-Med Technologies, and a Director of the UF Institute for Wound Research in the College of Medicine, and one of three UF researchers involved in the project. “Sulfur mustard gas is simple and inexpensive to synthesize and easy to weaponize.”
Ilomastat was shown to block the effects of sulfur mustard exposure in rabbit eyes and in human skin explants, according to past studies the Company conducted with researchers at other Universities and government laboratories. For this project, the researchers will put ilomastat and other drugs through more rigorous testing. These tests will all be done in a Lovelace lab equipped to safely study dangerous chemical warfare agents like sulfur mustard gas. Quick-Med Technologies will provide ilomastat for the studies, and the Company will have access to the results of the experiments, which if carried to the final level of testing, will include testing ilomastat in several animal models that will be conducted under good laboratory procedure (GLP) standards. Since it is not possible (unethical) to conduct clinical trials of treatment of sulfur mustard injures in humans, the FDA will require safety and efficacy studies in two relevant animal models conducted under GLP standards to approve a drug for treatment of sulfur mustard injuries. The GLP tests conducted at Lovelace could provide substantial support to Quick-Med Technologies’ development of ilomastat for sulfur mustard injuries, and for other types of civilian eye injuries such as acid or base injuries to the cornea.
The Company has a Cooperative Research and Development Agreement (“CRADA”) with the United States Army Medical Research and Materiel Command, for the development of a post-injury treatment to the eyes and skin for mustard gas exposure. This CRADA was originally signed on November 15, 2000, and it has been extended to June 30, 2011.
About Ilomastat
Ilomastat is an important compound that should be effective in treating many types of injuries to eye and skin including chronic skin wounds. It is a highly successful member of a class of compounds called Matrix Metalloproteinase Inhibitors (MMPI) that modern research has shown to play key roles in skin cell biology. The Company has an exclusive license on all topical uses of Ilomastat.
About Quick-Med Technologies
Quick-Med Technologies, Inc. is a life sciences company focused on developing broad-based technologies within the healthcare and consumer markets. The Company's two core products under development are the (1) NIMBUSTM, a technology employing advanced polymers that can be used in a wide range of applications from advanced wound care to industrial and consumer products; and (2) MultiStatTM family of advanced patented methods and compounds, shown to be effective in key skin care therapy applications for cosmetic, military, and medical markets. Quick-Med Technologies, Inc. is listed under the symbol "QMDT" on the OTC Bulletin Board.
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 is 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. The Ilomastat selection for evaluation in the sulfur mustard gas grant from the NIH should not be construed by any means as an indication of the present or future value of the Company or its common stock. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Unless otherwise required by applicable law, the Company does not undertake, and it specifically disclaims any obligation, to update any forward looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
