GAINESVILLE, Fla., May 20, 2011 (GLOBE NEWSWIRE) -- Quick-Med Technologies, Inc. (OTCQB:QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has entered into a new multi-year exclusive worldwide Manufacturing and Distribution Agreement with BASF Corporation to continue to manufacture and distribute Quick-Med's proprietary MultiStat® anti-aging technology for use in cosmetics. BASF Corporation is a unit of BASF Group, the world's leading chemical company. BASF Beauty Care Solutions is a world leading biotechnology and delivery system provider to the beauty care sector.
MultiStat is Quick-Med's proprietary family of compounds – generally called Matrix Metalloproteinase Inhibitors – that represent a new frontier in anti-aging skin care. MMP Inhibitors have been proven effective in broad-based applications, including improving the appearance of fine lines and wrinkles associated with natural aging or sun-induced premature aging and damage. The agreement with BASF covers Ilomastat, a Quick-Med advanced and patented compound that has been shown to significantly benefit the appearance and maintenance of skin in more than 250 research studies and academic papers.
"We are very pleased to have a new agreement in place with BASF, the premier supplier to the cosmetics industry," said J. Ladd Greeno, CEO of Quick-Med Technologies. "BASF Beauty Care Solutions is at the forefront of cosmetic ingredients research and its new Noctafix ingredient can leverage MultiStat's exciting anti-aging potential."
Noctafix provides visible benefits. In a consumer perception study with 49 female panelists including both smokers and non-smokers, results showed that skin appears noticeably healthier after 4, 8 and 12 weeks application of Noctafix.
The new agreement supersedes previous agreements between the two companies and provides a basis of collaboration through December 31, 2014.
About BASF Beauty Care Solutions
BASF Beauty Care Solutions is a world leading biotechnology and delivery system provider to the beauty care sector. Mainly focusing on the skin care market, BASF Beauty Care Solutions offers skin care active ingredients with substantiated performance benefits and smart delivery systems for all the segments of face and body beauty industry. Aging skin biology, encapsulation, skin engineering, face architecture, deep wrinkles correction, targeted delivery of active ingredients or long-lasting delivery are some of Beauty Care Solutions core competencies.
About BASF
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €63.9 billion in 2010 and had approximately 109,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available at www.basf.com
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company that is developing innovative technologies for the consumer and healthcare markets. In addition to MultiStat, the Company is developing advanced antimicrobial technologies for infection prevention and control. Its NIMBUS® technology is the first FDA-cleared, non-leaching antimicrobial available in a wound dressing. Its NimbuDerm™ technology is being developed as a persistent hand sanitizer and its new Stay Fresh® technology provides highly durable antimicrobial protection for apparel and other textile applications. For more information, see: www.quickmedtech.com/" target="_top" rel="nofollow">www.quickmedtech.com.
© 2011 Quick-Med Technologies, Inc. All rights reserved. MultiStat®, NIMBUS® and Stay Fresh® are registered trademarks and NimbuDerm™ is a trademark of Quick-Med Technologies, Inc. Noctafix™ is a trademark of BASF.
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