April 13, 2010
Skinvisible Signs Development Agreement for Prescription Product for Women's Healthcare
Women's Choice Pharmaceuticals chooses Invisicare for new products
Las Vegas, NV- April 13, 2010 - Skinvisible, Inc. (SKVI:OTCBB) 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 whose primary business objective is to license its proprietary formulations with Invisicare to pharmaceutical and cosmeceutical companies as well as assisting companies in 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 Invisicare patent. Skinvisible's value also lies in its ability to continually generate new IP on dermatology and medical products formulated with Invisicare.
www.skinvisible.com www.invisicare.com
