LAS VEGAS, NV / ACCESSWIRE / February 13, 2020 / Skinvisible, Inc. ('Skinvisible') (OTCQB:SKVI), is pleased to announce that it has signed a Licensing Agreement with Ovation Science Inc. for the exclusive worldwide rights to its DermSafe® hand sanitizer made with chlorhexidine gluconate.
Skinvisible has signed this License Agreement with Ovation Science subject to the terms of the Agreement which includes three years of exclusivity for an on-going royalty and the option to pay a license fee after the first term. Skinvisible previously signed an exclusive licensing agreement with Ovation Science for the use of its Invisicare polymers for cannabis, hemp and hemp seed oil products. This new license agreement for DermSafe represents an additional agreement with its own terms and conditions.
'This is a great opportunity to have our DermSafe hand sanitizer made available through Ovation, specifically initially for China as this is a viable option for Skinvisible to generate immediate royalty revenue,' said Terry Howlett, President and CEO, Skinvisible. 'We look forward to having Ovation expand its distribution and seek opportunities in the global market.'
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals 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, allowing for the controlled release of actives. www.skinvisible.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 including with respect to the possible development of any such products, the acceptance of any such products in the market place, the size of any such markets, the ability of any product candidates to be approved by the U.S. Food and Drug Administration among others. 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 September 30, 2018). The Merger Agreement has been signed however the closing conditions need to be satisfied for the proposed Merger to close.
SOURCE: Skinvisible Inc
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