Derma Sciences has acquired exclusive rights of Quick-Med Technologies' intellectual property related to the Nimbus antimicrobial technology, available in Bioguard dressings.
The FDA cleared Nimbus is a non-toxic, long-lasting non-leaching antimicrobial technology designed for infection prevention.
As per the agreement, Derma Sciences will make $1.3m upfront payment to Quick-Med Technologies and based on sales of products incorporating the licensed technology, will make future milestone payments.
Derma Sciences chief executive officer Edward Quilty said the exclusive global license strengthens the company's ownership of proprietary advanced wound care products, and will positively impact its Bioguard gross margin through a significantly lowered royalty rate.
"With regard to the expanded opportunity afforded to us through the global nature of our new license, given the prevalence of gauze used around the world, we believe the demand outside of the U.S. will be very strong for these predominantly gauze-based, highly effective, yet inexpensive antimicrobial dressings," Quilty added.
"In addition, this new long-term agreement will allow us to use our recently expanded sales force in the U.S. to increase revenues, and to accelerate plans for product launch in Europe and the rest of the world."