Quick-Med Technologies, Inc. Awarded $1 Million Congressional Appropriation
Funds directed to Company's R&D program for developing a Mustard Gas post injury drug
Gainesville, Florida - April 24, 2007 - Quick-Med Technologies, Inc. (OTC Bulletin Board: QMDT) ("Quick-Med Technologies" or the "Company") is pleased to announce that it has been awarded a $1 million military contract for research on the "Development of Ilomastat for Treatment of Sulfur Mustard Injuries to Eye and Skin". The award is provided under the Department of Defense ("DoD") Appropriation Act for Fiscal 2006 passed by Congress, and signed by the President.
Sulfur Mustard, also known as Mustard Gas, is a blistering agent that has been characterized as a primary threat by defense analysts. There is no antidote currently available, the only existing treatment being to wash exposed areas with bleach to neutralize any remaining active agent.1 This research will build on the Company's existing research program that has shown very promising results for the development of a post-injury therapy.
"This funding will advance a very promising drug, Ilomastat, to provide a critical treatment for Mustard Gas injuries in the eye and skin," said Dr. Gregory S. Schultz, Vice President of Laboratory & Clinical Research for Quick-Med Technologies. "This research would also be relevant for chemical burns victims." added Dr. Bernd Liesenfeld of Quick-Med Technologies, the project's principal investigator.
"The DoD financial support is critical in our continued efforts with the Army's Medical Community to leverage the successful research done on Ilomastat with our partners. It will move us closer to providing a real treatment for this Chemical Agent threat." said Major General George E. Friel (Ret.), Vice President for Quick-Med Technologies.
On March 26, 2007, Quick-Med Technologies also announced that Ilomastat had been selected as the lead drug for development of a post injury agent for Mustard Gas exposure in a recently funded grant of $18 million from the National Institutes of Health to the Lovelace Institute and the University of Florida at Gainesville.
The Company has a Cooperative Research and Development Agreement ("CRADA") with the USAMRMC, for the development of a post-injury treatment to the eyes and skin for Mustard Gas exposure.
In a separate development, the Company has also been awarded Phase I and Phase II U.S. Army SBIR (Small Business Innovative Research) grants totaling $840,000 for the development of a specialized wound dressing to be used on wounds from Mustard Gas exposure.
Source: 1) AFOA Briefing Book on Chemical Weapons.
About Ilomastat
Ilomastat is an important compound that should be effective in treating
many types of injuries to eye and skin including chronic skin wounds. It
is a highly successful member of a class of compounds called Matrix
Metalloproteinase Inhibitors (MMPI) that modern research has shown to play
key roles in skin cell biology. The Company has an exclusive license on
all topical uses of Ilomastat.
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