SKVI Subsidiary Inks License Agreement for US Distribution of Topical Cannabis Products
- Announces formation of new Canadian subsidiary Ovation Science Inc.
- Agreement forged with Lighthouse Strategies, LLC, regarding exclusive use of patented topical and transdermal formulations in select U.S. markets
- Licensing agreement recently made with Canopy Growth Corp. for exclusive rights in Canada
Research and development company Skinvisible Pharmaceuticals, Inc. (OTCQB: SKVI
) announced on November 16 that it has formed a new subsidiary, Ovation Science Inc., and that Ovation has inked a definitive license agreement with Lighthouse Strategies, LLC (http://nnw.fm/GJlS6
). The agreement, made through Ovation, stipulates that Lighthouse will have exclusive use of the company’s patented topical and transdermal formulations for select markets in the United States.
Via Lighthouse’s technology division and in collaboration with the San Diego-based Advocacy Research Center (ARC), Lighthouse plans to introduce Ovation’s topical and transdermal products formulated with its patented drug delivery system, Invisicare®. In doing this, Lighthouse intends to foster the development of safe, healthy and lifestyle-integrated treatments coupled with accurate time-released dosing.
Cannabiniers, an established technology and brand management company and Lighthouse subsidiary, will conduct the national distribution of products and brands. Cannabiniers is a pioneer in the cannabis industry, offering revolutionary, patented technologies. In distributing Ovation’s topical products in the U.S., Cannabiniers will leverage its branding prowess and its expertise in local, regional and national cannabis markets.
In working with Ovation, Cannabiniers further aims to normalize consumption and help integrate cannabis into the daily lives of patients and consumers—something Cannabiniers has done with its own brands.
Ovation Science Inc. has been founded in order to better serve the needs of licensees, as well as to focus on specific product development within the cannabis market. This subsidiary has been granted the exclusive global right to all products formulated using Skinvisible’s patented Invisicare® technology with cannabis and hemp seed oil.
In September 2017, Skinvisible also forged a licensing agreement with Canopy Growth Corp., the largest cannabis company in the world, for exclusive rights for Canada and the right of first refusal in other countries outside Canada and the U.S. where cannabis is legal. Ovation has been assigned this license agreement with Canopy.
Skinvisible’s game-changing Invisicare® platform is a patented polymer technology that enhances topical and transdermal drug delivery. When used in topical and transdermal cannabis products, this technology enables improved release and penetration of the product.
Skinvisible has developed over 40 product formulations using Invisicare both in the medical and skincare markets, in addition to being granted 14 patents. The company is focused on licensing its formulations and Invisicare to other companies in the pharmaceutical and cosmeceutical industries.
Like the blockchain and cryptocurrency market, the cannabis market is exploding throughout the world, and Skinvisible’s pioneering technology is poised to be a game-changer for various companies in this space.
For more information, visit the company’s website at www.Skinvisible.com