Quick-Med and Foster Enter Into Joint Development Agreement
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Companies to Pursue Development of NIMBUS® Antimicrobial Technology to Catheters
to Combat Infections
GAINESVILLE, Fla.--(Business Wire)--
Quick-Med Technologies, Inc. (OTCBB:QMDT) announced today that it has entered
into a joint development agreement with Foster Corporation, a member of
PolyMedex Discovery Group, to collaborate in applying Quick-Med`s proprietary
NIMBUS® technology to thermoplastics for catheters and other medical product
applications.
Catheter-associated urinary tract infection is the most common nosocomial
(hospital) infection. Each year, urinary catheters are inserted in more than 5
million patients in U.S. acute-care hospitals and extended-care facilities and
more than 1 million of those patients acquire a catheter-associated urinary
tract infection. When infection occurs, the potential medical and economic
consequences can be tremendous, including increased mortality and significant
additional heath care costs.
"We are excited to team with Foster Corporation to incorporate our NIMBUS
technology in catheters," said J. Ladd Greeno, CEO of Quick-Med Technologies.
"Foster is a respected leader developing advanced biomedical materials to meet
the requirements of medical device manufacturers. This collaboration will
leverage NIMBUS technology to a next generation of antimicrobial catheters to
address growing infection concerns."
"Our partnership with Quick-Med will enable us to bring innovative,
next-generation antimicrobial technology to meet the needs of both existing and
potential customers," said Dan Lazas, Foster`s Corporate Vice President,
Marketing & Sales. "NIMBUS technology will continue Foster`s tradition of
industry firsts by bringing much needed, uniquely effective and affordable,
innovative antimicrobial protection to thermoplastic applications for the
medical devices market."
What makes NIMBUS different from other antimicrobial technology are its
permanent bond and its ability to be effective even in the presence of large
amounts of serum and body fluids. The active agent is permanently bonded to the
substrate, keeping the biocide from depletion, while killing microbes (such as
MRSA, VRE, and many others) that are present on the device. Being bound to the
substrate keeps the antimicrobial at full strength; test results show that even
in 90% serum, NIMBUS continues to kill microbes outperforming other
antimicrobials.
When the development is complete and FDA clearance received, management believes
NIMBUS will bring safe, highly effective, and extraordinarily affordable
antimicrobial protection to the $12 billion global catheter market which is
projected to continue rapid growth for the next several years primarily due to
the aging population.
About NIMBUS®
NIMBUS is a next-generation wound care technology that is non-toxic,
long-lasting and not blocked by organics such as blood, urine and perspiration.
According to Gregory Schultz, Professor, Institute for Wound Research at the
University of Florida and Past President of the Wound Healing Society, "NIMBUS
poses no danger of bacteria developing resistance, or of releasing toxic
material. It is a novel technology: bonded and effective even in high
concentrations of body fluids."
About Foster Corporation.
For nearly 20 years, Foster Corporation has been at the forefront of developing
and manufacturing state-of-the-art material solutions based on extremely precise
polymer technologies, with a special focus on serving the medical,
pharmaceutical delivery, and bio-technology sectors worldwide. In February 2009,
Foster Corporation and Putnam Plastics Group merged to form PolyMedex Discovery
Group. For more information, see: www.fostercorporation.com.
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. For more
information, see: www.quickmedtech.com.
© 2009 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.Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. Unless otherwise required
by applicable law, the Company does not undertake, and it specifically disclaims
any obligation, to update any forward looking statements to reflect occurrences,
developments, unanticipated events or circumstances after the date of such
statement.
Quick-Med Technologies, Inc., Gainesville, Fla.
J. Ladd Greeno, CEO, 888-835-2211, Ext. 102
lgreeno@quickmedtech.com
Copyright Business Wire 2009
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