SKVI Maximizes Product Development Opportunities with Global Goals
- Targeting unmet medical needs with proprietary topical formulations
- License-based business model translates to worldwide opportunities
- Patented Invisicare™ technology offers enhanced drug delivery system
- Global skincare market projected to reach $135 billion by 2021
Research and development company Skinvisible Pharmaceuticals, Inc. (OTCQB: SKVI
), continues to add significant value to its core business model with several key movements involving a proposed merger, new licensing agreements and formation of a specialized subsidiary.
The Company’s November 27 announcement that it has entered into a non-binding term sheet regarding a proposed merger with Quoin Pharmaceuticals Ltd., pending customary closing conditions, melds industry veterans committed to developing products which address major societal issues with Skinvisible’s team of R&D scientists. Quoin’s two lead products are targeting crises such as the opioid epidemic and the military veteran suicide rate that result in the death of almost 120 people in the United States every day (http://nnw.fm/maKM8
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. The Company’s business model emphasizes four revenue streams that include fees for new product development, license fees, sales of branded products, and on-going royalty fees based on a licensee’s sales.
There’s plenty of room for Skinvisible’s proprietary technology within the skincare, dermatology and over-the-counter cosmeceutical markets, as evidenced by numerous reports from MarketResearch.com which state the global skincare market alone is projected to reach $135 billion by 2021 (http://nnw.fm/Lr1fL
In September, Skinvisible announced it had signed a licensing agreement with Canopy Growth Corporation, the world’s largest cannabis company. This was followed in November when Skinvisible reported it had formed a new subsidiary, Ovation Science Inc., for the purpose of better serving the needs of licensees, as well as to focus on specific product development within the cannabis market. In fact, Ovation Science has already reached a licensing agreement with Cannabiniers, a subsidiary of Lighthouse Strategies, LLC, to distribute Skinvisible’s patented cannabis products to select markets in the United States where medical cannabis products have been legalized (http://nnw.fm/3lPb0
). Invisicare’s game-changing technology enhances topical and transdermal drug delivery, enabling improved release and penetration of the product.
Another milestone was reached in June of this year when the Company first sold its hand sanitizer DermSafe product in China. Clinical studies show that frequent hand washing and sanitization is an effective way to help prevent the spread of flu viruses, including some of the more virulent forms now being seen around the world (http://nnw.fm/Feb9M
). Interestingly, DermSafe was used by the Canadian Olympic team during the games in Rio, addressing concerns stemming from poor water quality through the use of the hand sanitizer. The Canadian Olympic team will also be protected by DermSafe in February 2018 at the Winter Olympic Games in South Korea.
For more information, visit the company’s website at www.Skinvisible.com