Disclosure NewswireTMiCrowdNewswire - Sep 15, 2016
LAS VEGAS, NV – 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.
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals is a R&D 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 along with controlling the release of actives. Kintari Int. Inc., a wholly-owned subsidiary markets its cosmeceutical and OTC products.
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 period ending June 30, 2016).
Doreen McMorran, Skinvisible Inc.