LAS VEGAS, March 6 /PRNewswire-FirstCall/ -- On October 13, 2005, Skinvisible Pharmaceuticals, Inc., a wholly owned subsidiary of Skinvisible, Inc (Website: www.skinvisible.com) and EMD Chemicals Inc. (Website: www.emdchemicals.com), an affiliate of Merck KGaA, Darmstadt, Germany announced they had signed an exclusive worldwide sales, collaboration and distribution agreement for the personal care market involving Skinvisible's patented polymer-based topical delivery vehicle, Invisicare(R).
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Pursuant to Section 13 OR 15 (d) of the Securities Exchange Act of 1934 the company has filed a Form 8-K, Section 3 -- Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities
On October 7, 2005, we entered into a Master Sales, Collaboration and Distribution Agreement ("Agreement") with EMD Chemicals Inc. ("EMD"), a New York corporation. Under the terms of this Agreement, we granted EMD the exclusive right to distribute and sell our patented polymer delivery system, Invisicare(R), for the cosmetics and personal care markets in the entire world. Part of the consideration on the Agreement is that we would grant EMD options to purchase shares of our common stock. The terms for the issuance of options were established and we executed a stock option agreement on February 27, 2006 where we granted EMD the option to purchase 5,817,525 shares of common stock at the exercise price of $0.172 per share exercisable until December 31, 2006. Assuming that all of the options are exercised by EMD, the gross proceeds received from the options will equal $1,000,614. These options were issued pursuant to Section 4(2) of the Securities Act of 1933, as amended. EMD was given adequate information about us to make an informed investment decision. We did not engage in any general solicitation or advertising.
About EMD Chemicals Inc.;
EMD Chemicals Inc. represents the North American specialty chemical extension of Merck KGaA, Darmstadt, Germany. As an international company with 1,150 employees and revenues of more than $350 million, EMD Chemicals focuses on specialty chemicals for pharmaceutical, biotech, cosmetic, automotive, plastics and other industrial applications.
About Merck KGaA, Darmstadt, Germany;
Merck is a global pharmaceutical and chemical company with sales of EUR 5.9 billion in 2005, a history that began in 1668, and a future shaped by 28,600 employees in 54 countries. The former U.S. subsidiary, Merck & Co., has been completely independent of the Merck Group since 1917.
About Skinvisible Pharmaceuticals, Inc.;
Headquartered in Las Vegas, Nevada, Skinvisible Pharmaceuticals, Inc. is a research and development company that has formulated and patented innovative polymer delivery system technology and compositions for topical skin applications. Skinvisible's primary marketing and sales objective is to license its technology and sell its trademarked polymer delivery vehicles to established dermatological, cosmetic, skincare and pharmaceutical manufacturers.
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 that will be on file with the US Securities and Exchange Commission (including but not limited to the report on Form 10QSB for the quarter ending September 30, 2005).
Contacts:
Ronald Trahan, APR, President Terry Howlett, President/CEO
Ronald Trahan Associates Inc., Skinvisible, Inc., 702-433-7154
781-762-9782, x18
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http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comSkinvisible Pharmaceuticals, Inc.