LAS VEGAS, July 7, 2017 /Weed Wire/ — Skinvisible Pharmaceuticals, Inc., (OTCQB: SKVI), is a topical and transdermal product development company with a proprietary drug delivery system Invisicare® which improves how ingredients are delivered to and through the skin including the medicinal components of marijuana; specifically CBD (cannabidiol) and the psychoactive marijuana ingredient THC (tetrahydrocannabinol). As part of the Company’s overall growth strategy in this market, Skinvisible announces that by mutual consent, its license agreement with Cannaskin, LLC has been terminated, allowing Skinvisible to pursue without constraints its objective of licensing its cannabis products globally.
The US and worldwide market for both medicinal and recreational cannabis products is growing exponentially and with that the demand for effective topical and transdermal products. Skinvisible has completed development of its first hemp-derived CBD products and the launch of these products are imminent. The development of THC products will be facilitated by a licensee in Las Vegas, Nevada where both medical and recreational marijuana are now legal. Skinvisible is part of the ancillary cannabis market as Skinvisible does not sell or touch marijuana; it sells its proprietary Invisicare polymers coupled with proven product formulations and services to its licensees.
“Skinvisible has over fifteen years of scientific product development experience and all of our products are developed using stringent pharmaceutical standards,” said Terry Howlett, President of Skinvisible. “This expertise is unique in the cannabis industry and will result in consumers getting high quality products that stand out in the marketplace due to their effectiveness. He added, “We are excited about the results we are seeing already just with our hemp-derived CBD products. Our science shows that our CBD products release almost four times that of market leaders and our transdermal product had an 81% penetration rate. These results are significant and prove the difference between ordinary cannabis products and ones enhanced by Invisicare.”
Skinvisible’s cannabis business strategy includes continuing to actively pursue potential licensees in all 29 US states where medical marijuana is approved beginning with Nevada as well as Canada. These licensees will have the exclusive right to manufacture and distribute Skinvisible’s cannabis products within their territory. In the US this requires a licensee in every state where marijuana is approved as the products cannot cross state lines. In Canada the market is significantly different and requires only one licensee. The market in Canada is expanding rapidly, with recreational marijuana recently approved and an implementation date slated for 2018. Skinvisible is also seeking to expand its reach to Europe, Australia and Latin America in the near future.
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.
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 March 31, 2017).