$QMDT..What do you think about our relationship with this GIANT?>>>> Avery Dennison Medical Solutions and Quick-Med Technologies Successfully Develop New, High-Performance Antimicrobial Adhesive
Avery Dennison Medical Solutions Expands Technology Platform; Licenses NIMBUS(R) From Quick-Med
CHICAGO and GAINESVILLE, Fla., April 12, 2011 (GLOBE NEWSWIRE) -- Avery Dennison Medical Solutions, a division of Avery Dennison Corporation (NYSE:AVY) and a global leader in pressure-sensitive adhesive technologies for medical applications, in partnership with Quick-Med Technologies, Inc. (OTCQB:QMDT), a life sciences company that develops innovative technologies for healthcare and consumer markets, today announced the completion of a license agreement for Quick-Med's NIMBUS® technology. The announcement comes after Avery Dennison Medical Solutions' successful development of a new antimicrobial adhesive featuring NIMBUS technology that can be incorporated into a variety of medical device applications, including surgical, wound care and vascular access products. The antimicrobial adhesive can be effective across multiple organisms even in the presence of large amounts of serum and body fluids.
"We are advancing our antimicrobial technology platform to provide innovative solutions that answer the needs of medical device providers and patients worldwide," said Howard Kelly, Vice President and General Manager, Avery Dennison Medical Solutions. "The success of our partnership with Quick-Med is a key component of our progress in this segment. We look forward to expanding our antimicrobial offerings and accelerating our growth now that the license agreement is in place."
Under a joint development agreement initiated in April 2009, the two companies worked in close collaboration to incorporate Quick-Med's proprietary NIMBUS antimicrobial technology into Avery Dennison Medical Solutions' adhesive technologies for medical device applications. NIMBUS is non-toxic, non-leaching and non-depleting, and is designed to eliminate the risk of bacterial resistance issues.
"Successful development of the antimicrobial adhesive and completion of the license agreement with Avery Dennison Medical Solutions, an industry leader and innovator, further validates the potential of Quick-Med's technologies for a range of applications," said J. Ladd Greeno, CEO of Quick-Med Technologies. "This valuable partnership will continue to leverage the combination of Avery Dennison Medical Solutions' inventive adhesive technologies with our highly effective, non-toxic, long-lasting, non-leaching and affordable antimicrobial protection, for the multi-billion dollar global medical adhesives market."
About Avery Dennison
Avery Dennison (NYSE:AVY) helps make brands more inspiring and the world more intelligent. For more than 75 years the company has been a global leader in pressure-sensitive technology and materials, retail branding and information solutions, and organization and identification products for offices and consumers. A FORTUNE 500 company with sales of $6.5 billion in 2010, Avery Dennison is based in Pasadena, California and has employees in over 60 countries. For more information, visit www.averydennison.com.
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc is a life sciences company that is developing proprietary, broad-based technologies for infection prevention and control in the consumer and healthcare markets. Quick-Med commercialized its NIMBUS technology in traditional wound care products in 2009 and is developing NIMBUS applications in several other medical device areas including adhesives, foams, hydrogels, films, hydrocolloids, and catheters. Additionally, its new Stay Fresh® technology provides highly durable antimicrobial protection for apparel and other textile applications and its NimbuDerm™ technology is being developed as a persistent hand sanitizer. For more information, see: www.quickmedtech.com.
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