Quick-Med’s patented technology, Nimbus, is an antimicrobial technology that has been custom designed for wound care and other medical applications.
Under the terms of the agreement, Quick-Med will develop antimicrobial wound dressing designed 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.
Quick-Med CEO Ladd Greeno said, “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.”
Biosara president and CEO Ted Pappas said, “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.”
