LAS VEGAS, Sept. 22, 2011 (GLOBE NEWSWIRE) -- Skinvisible Pharmaceuticals, Inc. (OTCQB:SKVI) (OTCBB:SKVI) announced today that the European Patent Office (EPO) has issued a Notice of Intent to Grant European patent application number 02752847.0 pertaining to Skinvisible's drug delivery system, Invisicare, which is a drug delivery technology used in prescription, over-the-counter and cosmeceutical products. The comprehensive patent protects Invisicare in three main areas: its composition, its method of combining polymers to make the Invisicare complex and the skin / medical conditions Invisicare is used for. This patent provides protection with claims that were also patented in the other Invisicare international patents.
This patent approval is a significant milestone for Skinvisible as multi-national pharmaceutical and consumer goods companies seeking products for global distribution will now have protected products to license from Skinvisible on four continents, covering over twenty-two countries. Invisicare patent coverage now includes Europe, plus previously announced India, Australia, China, Japan, Hong Kong, Korea, Canada and the USA.
"We are excited about our international patent portfolio especially as it pertains to licensing our products globally, as well as the increase in value of our intellectual property and therefore our Company," said Mr. Terry Howlett, President and CEO of Skinvisible. "Patent protection provides Skinvisible and its licensees with a strong marketing advantage over other products using similar active ingredients. Additionally, Skinvisible continues to proactively build and strengthen its global intellectual property portfolio with twenty-eight patents pending, in addition to developing new Invisicare technologies for topical, transdermal and mucosal delivery." He added, "We expect to significantly reinforce our patent portfolio with new products in high-value disease areas, formulated with the next generation of Invisicare technologies."
Skinvisible formulates and licenses products in the areas of dermatology, women's health, pain management, surgical preparation, consumer health and others. In addition to these in-house developments, Skinvisible develops products for pharmaceutical companies seeking life cycle management for products coming off patent. Invisicare offers them a cost-effective new delivery vehicle and new patent protection thereby extending the sales life of their products.
Skinvisible is actively seeking partnering, licensing and co-development arrangements in both the United States and internationally.
About Invisicare
Invisicare is Skinvisible's patented polymer delivery system that offers life-cycle management and unique enhancements for topically delivered products. It is a combination of hydrophilic and hydrophobic polymers that hold active ingredients on the skin for extended periods of time resisting both wash off and perspiration. Invisicare can control the release of actives, reduce the amount of actives used and also reduce irritation. It is non-occlusive and allows for normal skin respiration while protecting against environmental irritants. www.invisicare.com
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 has thirty-six products developed and ready for licensing including prescription, over-the-counter and cosmetic formulations. 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
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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 10K for the quarter ending June 30, 2011).