Quick-Med Technologies awarded $244,000 QTDP grant to advance antimicrobial technology for wound care

Nov 4 2010

Quick-Med Technologies, Inc. (OTCBB:QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today it has been awarded by the U.S government under Qualifying Therapeutic Discovery Project (QTDP) to advance the development of the company's NIMBUS® technology for wound dressings and wound drains. The QTDP grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services (HHS) to have reasonable potential to result in a new therapy, reduce health care costs, or significantly advance the goal of curing cancer. A grant payment of approximately $244,000 has been authorized by the U.S. Department of the Treasury for payment in November 2010.

"We are very appreciative of the recognition and support provided by this award for our innovative NIMBUS technology," said J. Ladd Greeno, CEO of Quick-Med Technologies. "NIMBUS offers highly effective, non-toxic, long-lasting, non-leaching and affordable antimicrobial protection can make an important contribution to eliminating healthcare associated infections and reducing healthcare costs in wound dressings."

The QTDP grant program provides support for innovative projects that are determined by HHS to have reasonable potential to result in new therapies to treat areas of unmet medical need, treat chronic or acute diseases and conditions, or reduce the long-term growth of health care costs in the United States. Quick-Med Technologies submitted a grant application for NIMBUS, a leading-edge antimicrobial technology developed for wound care, medical device and adhesive applications, and received the award based on its responsiveness to the QTDP threshold criteria.