Derma Sciences and Quick-Med Technologies announce the signing of an agreement whereby Quick-Med Technologies has granted Derma Sciences an exclusive global license to intellectual property related to the novel NIMBUS® antimicrobial technology, which is available in BIOGUARD® dressings. Under the terms of the agreement, Derma Sciences will make a $1.3M upfront payment to Quick-Med Technologies and future milestone payments based on sales of products incorporating the licensed technology. In addition, the royalty paid by Derma Sciences to Quick-Med Technologies on such products will be lowered from 20% currently, to a sliding scale starting at 8.5% and declining as sales milestones are achieved.
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