The Company's first acne product enters the $2.8 billion worldwide market
LAS VEGAS, Jan. 30 /CNW/ -- Skinvisible, Inc. (OTC Bulletin Board: SKVI;
http://www.skinvisible.com), a research and development company focused on
formulating and enhancing patented dermatology products with their proprietary
polymer delivery system Invisicare(R), announced it has signed an exclusive
licensing agreement with Panalab Internacional S.A. ("Panalab"). The Agreement
is for the right to develop and commercialize Skinvisible's prescription
anti-acne products formulated with adapalene and Invisicare(R) in Argentina,
Brazil and Chile.
Under the terms of the agreement Panalab, a multi-national dermatology
company headquartered in Panama with subsidiaries and partners in most Latin
American countries, will be responsible for filing and obtaining marketing
approval in the countries they have licensed. While all terms of the
agreement were not disclosed, Skinvisible will receive a research and
development fee plus a licensing fee allocated as an upfront fee plus
milestone payments. In addition the Company will receive royalties based on
revenues generated by the sale of the products. According to the agreement,
Panalab will have the right to manufacture, distribute, market, sell and
promote the adapalene formulations in the specified territory.
"We are very pleased to sign this agreement with Panalab brought to us by
Riley-Nacht, LLC, one of our pharmaceutical consulting firms representing our
products and technology to international pharmaceutical and cosmeceutical
companies," said Mr. Terry Howlett, President / CEO of Skinvisible. "The acne
market is extremely large, with retinoids like adapalene making up the largest
portion with over 60% market share. We are entering the acne market with
adapalene, as it is the market leader, and we are confident that dermatology
companies will be interested in obtaining the rights to our Invisicare
formulations incorporating adapalene, especially with our ability to seek
patent protection for these products in the United States."
Skinvisible continually looks for active ingredients in dermatology
products where patents are expiring such as adapalene. Adapalene was approved
for the treatment of acne in 1996 by the U.S. Food and Drug Administration and
will come off patent in 2010 in the United States. For the countries where no
patent exists and for future U.S. distribution, Skinvisible has successfully
developed both a gel and cream adapalene based product made with Invisicare
and has applied for new patents. Adapalene is generic in many countries and
Skinvisible is seeking to license the new formulas in those countries.
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals, a wholly owned subsidiary of Skinvisible
Inc., is a research-and-development company whose primary business objective
is to license its proprietary formulations with Invisicare to pharmaceutical
and cosmeceutical companies as well as assisting companies in revitalizing or
enhancing their existing skin care products. Skinvisible receives a
combination of research and development fees, upfront license fees, and
ongoing royalties for the life of the patent. http://www.skinvisible.com
Invisicare is a patented polymer delivery system developed to hold active
ingredients topically on the skin for extended periods of time. Other key
benefits include its ability to gradually release active ingredients which
reduces skin irritation and increases efficacy, it is non-occlusive on the
skin and new patents can be issued for products formulated with Invisicare.
The Company has developed a portfolio of topical products using Invisicare for
the dermatology and cosmeceutical industries. http://www.invisicare.com
This press release contains 'forward looking' statements within the
meaning of Section 21A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and are subject to the
safe harbors created thereby. Such statements involve certain risks and
uncertainties associated with an emerging company. Actual results could differ
materially from those projected in the forward looking statements as a result
of risk factors discussed in Skinvisible, Inc. reports on file with the U.S.
Securities and Exchange Commission (including, but not limited to, a report on
Form 10K for the quarter ending October 31, 2007)
Terry Howlett, President/CEO
Skinvisible Pharmaceuticals, Inc.
For further information:
For further information: Terry Howlett, President|CEO, of Skinvisible
Pharmaceuticals, Inc., +1-702-433-7154, email@example.com Web Site: