LAS VEGAS, April 13, 2010 (GLOBE NEWSWIRE) -- Skinvisible, Inc. (OTCBB:SKVI) is pleased to announce it has entered into a research and development agreement with Women's Choice Pharmaceuticals LLC, a specialty pharmaceutical company based in Gilbert, Arizona. The agreement is to develop a prescription formulation using Skinvisible's technology Invisicare®, a patented polymer delivery system for topical dermatology and consumer goods products.
Under the terms of the agreement, Skinvisible received a fee for the development of the product. Upon the successful completion, Skinvisible and Women's Choice will enter into a license agreement which includes a license fee paid in milestones plus on-going royalties based on product sales. Development is expected to be completed in the second quarter in anticipation of a third quarter launch.
"We feel that Women's Choice will be an important licensee for us as we explore other product development opportunities with them that fit with their strategy and expertise in women's health as well as dermatology. We are especially pleased to be working with the principals as they have a proven track record in the prescription market," said Mr. Terry Howlett, President and CEO. "This also demonstrates that Skinvisible can help companies accelerate time-to-market with a patent-protected product that does not come with the high risk and cost associated with bringing new products to the market."
Women's Choice Pharmaceuticals is an innovative specialty pharmaceutical company whose primary focus is to provide high quality prescription products to healthcare providers in the United States. The company provides technology based prescription products to the women's health market place, with their primary product portfolio consisting of three patent protected products with market caps exceeding $500 million. Their nationwide sales force will deploy in May of 2010 and will target more than 30,000 OB/GYNS and selected other medical specialties. Their managed markets division will target PBM's, HMO, GPO, CMS and other managed care organizations ensuring their products are covered under drug benefit plans. (www.wcpharma.com )
Skinvisible is focused on licensing products made with its patented technology, Invisicare worldwide to pharmaceutical, consumer goods and medical companies. License agreements include, upfront licensing fees, on-going royalties, along with the sale of Invisicare.
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals is a research-and-development company that licenses its proprietary formulations made with Invisicare, its patented polymer delivery system that offers life-cycle management and unique enhancements for topically delivered products. Invisicare holds active ingredients on the skin for extended periods of time resisting both wash off and perspiration along with controlling the release of actives and reducing irritation. Skinvisible receives a combination of research and development fees, upfront license fees, and ongoing royalties for the life of the Invisicare patent. Skinvisible's value also lies in its ability to continually generate new IP on topical products formulated with Invisicare. www.skinvisible.com and www.invisicare.com .
Forward-Looking Statements: 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, 2009).