LAS VEGAS, NV--(Marketwire - November 27, 2012) - Skinvisible Pharmaceuticals, Inc. (OTCQB: SKVI) (OTCBB: SKVI) today announced that it has been granted US Patent Number 8,299,122 for combining retinoic acid with its patented polymer delivery system, Invisicare®. The patent issued by the United States Patent and Trademark Office (USPTO) titled "Methods for Stabilizing Retinoids, Retinoid Containing Composition, and Methods of Using a Retinoid Containing Composition," will provide protection until April 14, 2029.
Retinoic acid (tretinoin) is a retinoid which is commonly used in prescription drugs to treat acne, psoriasis and skin cancer. Retinoids however degrade in the presence of light and oxygen. Skinvisible's invention stabilizes retinoic acid, enhancing the life and efficacy of compositions containing retinoic acid. Additionally this patent relates to a method for stabilizing a retinoid, and to a retinoid containing composition.
The granting of this retinoid patent further substantiates Skinvisible's findings that Invisicare provides major benefits to the topical formulations it develops. In addition to the stabilization of retinoic acid, Invisicare also controls the release of the active, providing a gradual release over time that can decrease irritation caused by the active ingredient. Since acne continues to be the largest prescription market in dermatology with estimated sales of US $2.3 billion worldwide, Skinvisible has developed three additional acne formulations: adapalene, clindamycin and salicylic acid, all of which are available for exclusive licensing.
"We are pleased to receive this patent which increases the depth of intellectual property protection, especially as it pertains to our high-value acne formulations," said Terry Howlett, President and CEO. "This patent provides potential licensees with a further layer of exclusivity and will assist Skinvisible as it actively seeks partnering, licensing and co-development arrangements globally to maximize the potential of this recently issued patent."
Skinvisible continues to proactively build and strengthen its global patent portfolio for Invisicare as well as its forty plus prescription, over-the-counter and cosmeceutical formulations it has developed. Skinvisible has received patent approval for Invisicare in the following major countries: U.S.(2), Canada, Europe(4), Australia, India, Japan, China, Hong Kong and S. Korea and three product specific patents covering its dermal barrier products, sunscreen formulations and now retinoids. The Company expects to be granted additional patents shortly including further expansion of its Invisicare technology patents as well as valuable targets for dermatology products.
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 resisting both wash off and perspiration along with controlling the release of actives and reducing irritation. Skinvisible receives a combination of license fees, and ongoing royalties for its licensed product formulations. Skinvisible's value also lies in its ability to continually generate new IP on topical products formulated with Invisicare. www.skinvisible.com and www.invisicare.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 10Q for the quarter ending September 30, 2012).