QMDT News Quick-Med Technologies, Inc. Licenses NIMBUS Antimicrobial Technology to Derma Sciences, Inc. for Use in Wound Care Products
GAINESVILLE, Fla.--(BUSINESS WIRE)--Quick-Med Technologies, Inc. (OTCBB:QMDT) (“QMT” or the “Company”) is pleased to announce that it has entered into a multi-year patent and technology license agreement with Derma Sciences, Inc. (OTCBB:DSCI), a manufacturer and supplier of wound and skin care products. The agreement licenses QMT’s NIMBUS™ antimicrobial technology (“NIMBUS”, or the “NIMBUS technology”) to Derma Sciences on an exclusive basis for use in specific wound care products, including conforming gauze, gauze sponges, gauze bandage rolls, gauze packing strips, oil emulsion acetate and Unna Boot dressings.
“QMT is a pioneer in wound care antimicrobial innovations, and we are pleased to enter into this exclusive license agreement,” said Edward J. Quilty, Chairman, President & CEO of Derma Sciences. “This license agreement with QMT represents further momentum in our business strategy of using free cash flow from our base business to fund the marketing and sales of novel, higher-margin products. The NIMBUS technology is a perfect fit for our growing infection control portfolio of products. We expect NIMBUS to offer significant benefits over competitive technologies, and to be a great new weapon for clinicians to use to help fight hospital-acquired infections, a growing concern worldwide. The products we develop with this technology will help us achieve our goal of advancing wound care by bringing new technologies to the market and empowering clinicians,” added Mr. Quilty.
“We are confident that the wound dressings we plan to develop incorporating NIMBUS technology will represent a significant improvement over current technologies, which would give clinicians more topical antimicrobial options for post-operative and chronic wound indications,” said Barry Wolfenson, Vice President of Marketing and Business Development of Derma Sciences. “In addition, our development studies to date have shown that it maintains its properties even in the presence of blood, which would offer an advantage over currently available technologies. As such, we look at this as a potential platform technology that we could roll-out to several products, increasing our relationship with QMT as time goes on,” concluded Mr. Wolfenson.
“We are delighted to be working with Derma Sciences, and to support their development and marketing efforts with our NIMBUS technology,” said David Lerner, Founder & President of Quick-Med Technologies. “Derma Sciences is bringing new innovative products and approaches to the industry, and we look forward to working with them to expand our market opportunity within the wound care arena, a $7.2 billion global market1,” added Mr. Lerner.
Under the terms of the agreement, QMT will receive royalty payments of twenty (20) percent of the net revenue Derma Sciences receives from sales of the licensed products. In addition, the Company will receive an upfront license signing fee of $50,000 and quarterly advance royalty payments of $25,000 for the next nine (9) months from the effective date of the license agreement. This agreement is exclusive for the U.S. and Canada wholesale markets.
The agreement also grants Derma Sciences a non-exclusive license with ten (10) percent royalty payments to develop and market the licensed products in the wound care industry to or on behalf of the U.S. government and in the wholesale markets of all countries outside of the U.S. and Canada, subject to certain limitations and the Company’s termination right as set forth in the license agreement.
There are no material relationships between QMT or its affiliates and any of the parties to the license agreement, other than with respect to the license agreement. Additional information can be found in the Company’s current report on Form 8-K/A filed with the Securities and Exchange Commission.
About NIMBUS™
The Company’s patented technology, NIMBUS (Novel Instrinsically Microbonded Utility Substrate), employs a family of advanced antimicrobial polymers that destroy bacteria at the cellular level, thereby eliminating the risk of developing drug resistance. Unlike any other microbicide on the market today, the NIMBUS technology works by creating a permanent bond with a multitude of substrates (without leaching) and is less than 10% the cost of silver-based antimicrobials. Studies conducted by the Company, as well as by independent laboratories, demonstrate that NIMBUS is highly effective, including against methicillin-resistant Staphylococcus aureus (“MRSA”) and vancomycin-resistant Enterococcus (“VRE”), two of the most significant antibiotic-resistant organisms responsible for hospital infections2.
Source:
1. Espicom Report – 2007 Global Market for Advanced Wound Care Products.
2. Quick-Med Technologies, Inc. and the University of Florida collaborate to develop the next generation of NIMBUS™ antimicrobial technology (Press Release: September 13, 2005)
About Derma Sciences, Inc.
Derma Sciences, Inc. provides a full range of skin care, wound management and specialty securement devices that are used primarily in the professional markets, specifically hospitals, nursing homes and home care settings. For more additional information, visit Derma Sciences’ website: http://www.dermasciences.com. For Details, Contact: Edward J. Quilty, President & CEO at 609-514-4744 or email at equilty@dermasciences.com.
About Quick-Med Technologies, Inc.
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) NIMBUS™, 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) MultiStat™ 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 signing of an exclusive license agreement with Derma Sciences, Inc. 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.
