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Skinvisible Granted US Sunscreen Patent for UVA Absorber
Wednesday, March 07, 2012
Las Vegas, NV -- Skinvisible, Inc. (otcqb:SKVI), a developer of topical and transdermal formulations using its patented Invisicare technology, announced today that it has been granted a new patent from the United States Patent and Trademark Office for "Sunscreen Composition With Enhanced UVA Absorber Stability and Methods", Patent Number 8128913. This patent further strengthens the company's existing intellectual property assets. The patent provides protection for its sunscreen formulation in the United States until November 2029.
Skinvisible has developed three sunscreen formulations using avobenzone; SPF 15, 30 and 50. Although avobenzone is recognized as the best sun absorber in the US providing UVA protection, it is known to degrade in sunlight in less than two hours, resulting in less skin protection over time. Skinvisible's new formulation with avobenzone has eight hours of photostability, a unique advantage for everyone who uses sunscreens and works or plays outdoors. The essential benefits of Skinvisible's sunscreen formulations are derived from its patented Invisicare polymer delivery system. This patent adds a distinctive new category of Invisicare to Skinvisible's portfolio, one which adds the benefit of photostability to sunscreen formulations and other future developments.
While the SPF of a sunscreen only provides the level of UVB protection, a sunscreen with UVA protection protects the skin from ultraviolet rays that penetrate deeper, go through glass and clouds and can cause more severe skin damage, wrinkling and even skin cancer. The FDA has ruled that only sunscreens with a critical wavelength above 370 nm are allowed to claim they provide UVA protection. Skinvisible's avobenzone sunscreens surpass this criterion allowing Skinvisible's sunscreens to meet the new FDA's 2012 guidelines and therefore can be labeled as having "broad spectrum" UV protection.
"With global sales in suncare reaching $1.7 billion in 2010 and North America accounting for 21% of that market, the value of this patented asset is tremendous," stated Mr. Terry Howlett, President and CEO, Skinvisible. "This patent maximizes the earning potential of our sunscreen formulations giving them an increased value when licensed. Skinvisible persists in securing a licensing agreement for its sunscreen formulations with the objective of maximizing revenue generation and continuing our mission of creating value for our company and its shareholders."
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 an R&D company whose primary business objective is to license its proprietary formulations made with Invisicare to pharmaceutical, consumer goods and cosmeceutical companies around the world. Skinvisible receives a combination of R&D fees, license fees, and ongoing royalties for the life of the Invisicare patent. Skinvisible has been granted ten comprehensive patents and has twenty-nine patents pending. www.skinvisible.com
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 October 31, 2011).
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