GAINESVILLE, Fla., Aug. 13, 2010 (GLOBE NEWSWIRE) -- Quick-Med Technologies, Inc. (OTCBB:QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has signed a development agreement with Biosara Corporation, a medical device company targeting wound dressings for major medical and healthcare providers, along with the multi-billion dollar organized sports athlete markets.
Under the terms of the agreement, Quick-Med will develop a unique antimicrobial wound dressing designed specifically for the organized sports segment of the institutional wound care market. Quick-Med received an initial payment upon entering into the agreement and will receive additional payments to fully fund the project for the six months that the development is expected to take. Biosara also has the option to license exclusive right to use the NIMBUS technology in professional wound care market in return for specified royalty fees.
"We are excited to begin this collaboration to develop innovative wound care products with Biosara," said J. Ladd Greeno, Quick-Med's CEO. "Our cutting-edge, non-leaching antimicrobial technology is a huge draw for partners like Biosara. This is another significant milestone for our NIMBUS wound care technology and further validates its superior performance and unparalleled safety."
"We are pleased to be working with Quick-Med on development of a new antimicrobial wound dressing," said Ted Pappas, President and CEO of Biosara. "Our market research shows there's a large demand for the Active Armor™ product line that's being developed. Our extensive relationships in the global medical community and the professional sports arena have consistently expressed the need for next generation antimicrobials and other innovative solutions leading to lower infection rates, lower wound care costs, and less pain."
Quick-Med's patented technology, NIMBUS®, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS® received de Novo FDA clearance in 2009 and has been commercialized in traditional wound care applications. Additional applications under development include advanced wound dressings, medical adhesives, and catheters.
About Biosara Corporation
Biosara provides revolutionary new medical products that combine innovative functional need along with a keen sense of product design in the medical device, sports, and general consumer arenas. The Biosara product line is extremely creative in nature and includes radical deviations on long standing medically standard products. The core philosophy of Biosara is different. Products must be a new species.
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. In addition to NIMBUS®, the Company is also developing Stay Fresh™, a textile technology platform that provides exceptional, highly durable, antimicrobial protection for consumer, industrial and military uses; NimbuDerm™; a novel skin-sanitizer technology that provides comfortable, ongoing protection for 6 or more hours; and MultiStat®, a family of patented compounds that have been shown to have significant benefit in promoting the maintenance, healing and repair of skin and eye tissue. For more information, see: www.quickmedtech.com.
© 2010 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® and MultiStat® are registered trademarks and Stay Fresh™ and NimbuDerm™ are trademarks of Quick-Med Technologies, Inc. Active Armor™ is a trademark of Biosara Corporation.
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.
CONTACT: Quick-Med Technologies J. Ladd Greeno, CEO (888) 835.2211 Ext 102 email@example.com The Ruth Group Media Eric Reiss (646) 536-7032 firstname.lastname@example.org Investors Ashleigh Barreto (646) 536-7028 email@example.com
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