Skinvisible Licenses Invisicare Products for US, China and Europe
– – – Rhei Pharmaceuticals Receives Exclusivity for Three Skincare Formulations
Las Vegas, Nevada – July 13, 2010 – Skinvisible, Inc. (SKVI:OTCBB) and RHEI Pharmaceuticals, a Hong Kong based pharmaceutical company and a subsidiary of the Luxembourg-based Leeward Ventures SICAR SCA, announce the completion of an exclusive license agreement granting RHEI, the exclusive rights to three Skinvisible formulations developed using its patented Invisicare polymer delivery system.
The agreement specifies exclusivity for the products for the institutional / healthcare market and includes an adult incontinence cream, skin barrier cream and super moisturizer. The agreement specifies upfront license fees for the territories of Europe and China and milestone payments based on approvals and launch dates for the United States. In addition, Skinvisible will receive royalties on sales of the products. RHEI will be responsible for regulatory filings, manufacturing and commercialization of the products.
RHEI will leverage its affiliate BeoCare Group, a leading medical consumables manufacturer with facilities in the United States, Europe and China, to provide access to the institutional / healthcare markets through its established network of multi-national clients. Additionally, RHEI will also sell to its affiliate, Senior Assist NV, one of the largest assisted living providers in Belgium, with a chain of thirty-three seniors’ homes.
“We are excited about this important licensing agreement with RHEI as they are in a prime position to capture significant market share and revenue from these products,” said Terry Howlett, President and CEO of Skinvisible. “The annual institutional spending on incontinence products in the United States alone reaches $32+ million. RHEI is in an ideal position to penetrate this market with their regulatory and commercialization experience and established client list.”
“There is a growing need for more efficacious products to treat adult incontinence and skincare for the elderly,” said Peter Vanderbruggen, Managing Director, Leeward Ventures SICAR SCA and President, BeoCare Group. “Skinvisible brings us innovative products that can be leveraged by the three healthcare-related companies in our portfolio. We are pleased to collaborate with Skinvisible on the commercialization of these products, which represents a significant expansion of our current medical product lines.”
About Skinvisible Pharmaceuticals, Inc Skinvisible 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, license fees, and royalties for the life of the patent. Skinvisible’s value also lies in its ability to continually generate new IP on topical products formulated with Invisicare. www.skinvisible.com
About RHEI Pharmaceuticals Rhei Pharmaceuticals Ltd. (RHEI) is a global pharmaceutical business development firm, with special focus on bringing core medicines from the U.S., Europe and Japan into the fast-growing South-East Asian marketplace. They are experts in business development, regulatory approval and clinical development and have a management team that combines a Western approach to pharmaceuticals with a long experience in Europe, North America and South-East Asia. They use their development capabilities and network of preferred commercial partners to help other pharmaceutical companies introduce their products into specific niche markets, such as the European institutional health care market and the Chinese hospital market. RHEI is headquartered in Hong Kong and has operations in Belgium, the US and China. www.rheipharma.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 10Q for the quarter ending March 31, 2010).
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