Quick-Med Technologies Awarded Qualifying Therapeutic Discovery Project Grant

GAINESVILLE, Fla., Nov. 3, 2010 (GLOBE NEWSWIRE) -- Quick-Med Technologies, Inc. (OTCBB:QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today it has been awarded by the U.S government under Qualifying Therapeutic Discovery Project (QTDP) to advance the development of the company's NIMBUS® technology for wound dressings and wound drains. The QTDP grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services (HHS) to have reasonable potential to result in a new therapy, reduce health care costs, or significantly advance the goal of curing cancer. A grant payment of approximately $244,000 has been authorized by the U.S. Department of the Treasury for payment in November 2010.