Quick-Med Technologies, Biosara sign development agreement

Aug 13 2010

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."