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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
&nbsp;July 12, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Derma Sciences, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: center">Pennsylvania</TD>
    <TD STYLE="width: 33%; text-align: center">1-31070</TD>
    <TD STYLE="width: 33%; text-align: center">23-2328753</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="text-align: center">(Commission</TD>
    <TD STYLE="text-align: center">(IRS employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">of incorporation)</TD>
    <TD STYLE="text-align: center">File Number)</TD>
    <TD STYLE="text-align: center">identification number)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">214 Carnegie Center, Suite 300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Princeton, NJ&nbsp;&nbsp;08540</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(609) 514-4744</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address including zip code and telephone</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">number, of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
( <I>see</I> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry
Into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 12, 2012, Derma Sciences, Inc. (the
&ldquo;Company&rdquo;) entered into a patent and technology license agreement (the &ldquo;Agreement&rdquo;) with Quick-Med Technologies,
Inc. (&ldquo;QMT&rdquo;) relating to QMT&rsquo;s proprietary anti-microbial technology (the &ldquo;Technology&rdquo;). The Company,
pursuant to the prior patent and technology license agreement with QMT, dated March 23, 2007 (the &ldquo;Prior Agreement&rdquo;)
and previously disclosed, has been utilizing the Technology in a series of wound care products, including conforming gauze, gauze
sponges, gauze bandage rolls, gauze packing strips, oil emulsion acetate and Unna boot dressings, and intends to continue to do
so under the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Agreement, QMT granted to the
Company an exclusive, royalty-bearing right and license to make, use and sell products incorporating the Technology worldwide,
except for India (the &ldquo;Territory&rdquo;). If the Company does not achieve the first commercial sale of a product incorporating
the Technology in Europe and in Asia and Central and South America by certain dates, QMT has the right to, as its sole remedy,
either terminate the Agreement or convert the exclusive license in the Territory to a non-exclusive license. Unless otherwise terminated
pursuant to the Agreement, the term of the Agreement extends from July 12, 2012 (the &ldquo;Effective Date&rdquo;) until, with
respect to each country in the Territory, the expiration of the last to expire of the Patent Rights (as defined in the Agreement)
in that country.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company agreed to pay to QMT an upfront
license fee of $1.3 million. In addition to the upfront license fee, royalties are payable to QMT based upon a sliding scale starting
at 8.5% the Company&rsquo;s net sales of products incorporating the Technology, less certain deductions (&ldquo;Net Sales&rdquo;)
and declining as Net Sales increase. The Agreement also requires the Company to make certain milestone payments to QMT based upon
the achievement of certain Net Sales levels for four consecutive calendar quarters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that, for a given calendar
year, the Company fails to meet a minimum Net Sales requirement under the Agreement, QMT has the right, as its sole remedy, to
either terminate the Agreement or convert the exclusive license in the Territory to a non-exclusive license, unless certain conditions
are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that QMT desires to sell the
Technology, Patent Rights and Improvements (as defined in the Agreement) or QMT receives a bona fide offer from an unaffiliated
third party to purchase the same during the term of the Agreement, the Company has the right of first negotiation or right of first
refusal, respectively, relating to any such sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Agreement supersedes the Prior Agreement in all
respects, which was terminated as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">DERMA SCIENCES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ John E. Yetter </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>John E. Yetter, CPA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Vice President and Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date:&nbsp;&nbsp;July 18, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v318931_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 14137}]
{"company-data": {"conformed-name": "DERMA SCIENCES, INC.", "cik": "0000892160", "assigned-sic": "3841", "irs-number": "232328753", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13070", "film-number": "12968424"}, "business-address": {"street1": "214 CARNEGIE CENTER, SUITE 300", "city": "PRINCETON", "state": "NJ", "zip": "08540", "phone": "6095144744"}, "mail-address": {"street1": "214 CARNEGIE CENTER, SUITE 300", "city": "PRINCETON", "state": "NJ", "zip": "08540"}, "former-company": {"former-conformed-name": "DERMA SCIENCES INC", "date-changed": "19940513"}}
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
 July 12, 2012
Derma Sciences, Inc.
(Exact name of registrant as specified in
its charter)
Pennsylvania
1-31070
23-2328753
(State or other jurisdiction
(Commission
(IRS employer
of incorporation)
File Number)
identification number)
214 Carnegie Center, Suite 300
Princeton, NJ  08540
(609) 514-4744
(Address including zip code and telephone
number, of principal executive offices)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(
see
General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01         Entry
Into a Material Definitive Agreement.
On July 12, 2012, Derma Sciences, Inc. (the
"Company") entered into a patent and technology license agreement (the "Agreement") with Quick-Med Technologies,
Inc. ("QMT") relating to QMT's proprietary anti-microbial technology (the "Technology"). The Company,
pursuant to the prior patent and technology license agreement with QMT, dated March 23, 2007 (the "Prior Agreement")
and previously disclosed, has been utilizing the Technology in a series of wound care products, including conforming gauze, gauze
sponges, gauze bandage rolls, gauze packing strips, oil emulsion acetate and Unna boot dressings, and intends to continue to do
so under the Agreement.
Under the Agreement, QMT granted to the
Company an exclusive, royalty-bearing right and license to make, use and sell products incorporating the Technology worldwide,
except for India (the "Territory"). If the Company does not achieve the first commercial sale of a product incorporating
the Technology in Europe and in Asia and Central and South America by certain dates, QMT has the right to, as its sole remedy,
either terminate the Agreement or convert the exclusive license in the Territory to a non-exclusive license. Unless otherwise terminated
pursuant to the Agreement, the term of the Agreement extends from July 12, 2012 (the "Effective Date") until, with
respect to each country in the Territory, the expiration of the last to expire of the Patent Rights (as defined in the Agreement)
in that country.
The Company agreed to pay to QMT an upfront
license fee of $1.3 million. In addition to the upfront license fee, royalties are payable to QMT based upon a sliding scale starting
at 8.5% the Company's net sales of products incorporating the Technology, less certain deductions ("Net Sales")
and declining as Net Sales increase. The Agreement also requires the Company to make certain milestone payments to QMT based upon
the achievement of certain Net Sales levels for four consecutive calendar quarters.
In the event that, for a given calendar
year, the Company fails to meet a minimum Net Sales requirement under the Agreement, QMT has the right, as its sole remedy, to
either terminate the Agreement or convert the exclusive license in the Territory to a non-exclusive license, unless certain conditions
are met.
In the event that QMT desires to sell the
Technology, Patent Rights and Improvements (as defined in the Agreement) or QMT receives a bona fide offer from an unaffiliated
third party to purchase the same during the term of the Agreement, the Company has the right of first negotiation or right of first
refusal, respectively, relating to any such sale.
The Agreement supersedes the Prior Agreement in all
respects, which was terminated as of the Effective Date.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
DERMA SCIENCES, INC.
By:
/s/ John E. Yetter
John E. Yetter, CPA
Vice President and Chief Financial Officer
Date:  July 18, 2012