Skinvisible Signs Global Licensing Agreement for Its Cannabis Products
Invisicare Enhances the Delivery of Topical Medical Marijuana in New Product Line
Las Vegas, NV - September 15th, 2016 - Skinvisible Pharmaceuticals, Inc., (OTCQB: SKVI), developers of patented Invisicare® polymer delivery systems, announces it has licensed the exclusive world rights to its topical and transdermal cannabis products formulated with Invisicare to CannaSkin, LLC, a cannabis product licensing company with international contacts in the medical marijuana industry.
CannaSkin has the exclusive license to manufacture, market and sub-license Skinvisible's new cannabis products. Their targets will initially include facilities in the 25 US jurisdictions currently approved for medical marijuana as well as Canada and Israel where there is a great demand for cannabis products supported by science.
Skinvisible will utilize its patented skin delivery system Invisicare to formulate and deliver high-quality topical cannabinoid products containing CBD and THC. CBD has proven to have many therapeutic effects and it does not produce the "high" associated with THC. Cannabinoids have been used to treat many skin conditions, from acne, eczema, psoriasis, skin cancer, to anti-aging, due to their anti-oxidant and anti-inflammatory properties. Skinvisible's Invisicare technology allows for the superior binding of these products to the skin, a controlled release of the cannabinoids both topically and transdermally, as well as providing patent protection.
"We are excited to enter into the emerging global cannabis market with CannaSkin, an extremely qualified partner in the cannabis industry, said Terry Howlett, President of Skinvisible. "Skinvisible will bring a new era of cannabis products; ones supported by science and patents. Our objective is to provide superior products with many options for medical marijuana consumers."
There is rapid growth in the number of legalized marijuana jurisdictions in the USA and internationally and with that, revenues growing at an exponential rate. According to AcrView Market Research, legal US cannabis sales are projected to increase by 25% in 2016 to $6.7 billion.