GAINESVILLE, Fla., July 28, 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 Patent and Technology License Agreement with Viridis BioPharma Pvt. Ltd. Under terms of the agreement, Viridis will manufacture, market and sell gauze wound dressings in India that incorporate Quick-Med's proprietary NIMBUS® antimicrobial technology.
"Our license agreement with Viridis BioPharma is an important part of our growth strategy to expand the application of our NIMBUS technology into additional applications as well as significant, global markets. The introduction of NIMBUS in India is a milestone for Quick-Med, and reflects the quality and safety of our technology," said J. Ladd Greeno, Quick-Med's CEO. "India's large population, increasing investments in health care and fast growing wound care business offers a major market for our technology."
Dr. Dilip Mehta, CEO of Viridis BioPharma, says, "This low cost Advanced Wound Care product addresses unmet need of the population in this vital health care area."
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. By reducing the number of times a wound must be redressed, bandages with NIMBUS technology will subsequently diminish the opportunities for infection and cross-contamination. Fewer redressings will also help decrease labor costs for wound care patients.
About NIMBUS®
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. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by ten U.S. patents and patents pending and 24 foreign counterparts. Additional applications under development include advanced wound dressings, medical adhesives, and catheters.
About Viridis BioPharma Pvt. Ltd
Through strategic associations with international pharmaceutical and biopharma companies, Viridis BioPharma Pvt. Ltd. commercializes products with therapeutic efficacy and growth potential in the Indian subcontinent and delivers a range of clinically-proven products to enable people to live better and more active lives. Viridis currently manufactures and markets a number of medical devices for companies, manufactured under license for B. Braun, American BioTech Labs, and Bhabha Atomic Research Center (BARC). For more information, see: www.viridisbiopharma.com
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company focused on developing proprietary, broad-based technologies for infection prevention and control in the consumer and healthcare markets. Quick-Med commercialized its NIMBUS technology in traditional wound care products in 2009 and 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.
© 2010 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® is a registered trademark of Quick-Med Technologies, 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.