Skinvisible Awarded Comprehensive Invisicare Patent for Canada
Global Patent Protection for Invisicare Increases
LAS VEGAS, Nevada. February 22nd, 2011 - Skinvisible, Inc. (SKVI: OTCQB) announced that the Canadian Patent Office has issued a Notice of Allowance for the comprehensive technology patent for Skinvisible's Invisicare polymer delivery system. Invisicare is the core technology in Skinvisible's portfolio of products which consists of thirty-six formulated topical products including prescription, over-the-counter and cosmetic formulations. Invisicare enhances the delivery of topical products with water insoluble actives as well as certain cationic actives by controlling the release of these actives as well as binding the products to the skin for an extended duration.
The Canadian patent for Invisicare (Patent number 758/10701.492) includes a total of forty-eight claims. This patent protects Invisicare in three key areas: 'Topical Composition', 'Topical Composition Precursor', and 'Methods for Manufacturing and Using'. Internationally, this is the seventh comprehensive patent granted to Skinvisible for its Invisicare technology. This Canadian patent is equivalent to the Invisicare patents already granted in Australia, China, Hong Kong, India, Japan and Korea. Skinvisible also holds four United States patents which include one product patent and three patents relating to Invisicare.
Currently Skinvisible has twenty-eight patents pending including twelve in the United States and sixteen international applications covering six patents.
"Being granted the Invisicare patent in Canada fortifies Skinvisible's global intellectual property portfolio," said Mr. Terry Howlett, President and CEO of Skinvisible. "It is a key strategic priority for Skinvisible to obtain patent coverage for our Invisicare technology as well as the unique product benefits that we discover during our research and development process." He added, "For Skinvisible, our patents are intrinsic to the overall value of our products we offer for licensing. Invisicare provides a valuable, cost-effective way for pharmaceutical companies to implement a life cycle management strategy for their existing products by expanding their products' benefits and extending their exclusivity in the marketplace with a new patent."
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 irritation and can eliminate some costly manufacturing processes. 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 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
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 October 31, 2010).