November 16, 2004
Skinvisible Signs Option Letter for Rights With Dermal Defense for Remainder of World Territory Not Now Held for $1 Million for Its Patented Antimicrobial Hand Sanitizer
LAS VEGAS, Nov 16, 2004 /PRNewswire-FirstCall via COMTEX/ --
Skinvisible, Inc. (OTC Bulletin Board: SKVI) / (Website: www.skinvisible.com) announced today that Dermal Defense, Inc., www.dermaldefense.com has signed an "Option Letter" to acquire the exclusive marketing and distribution rights to its patented Antimicrobial Hand Sanitizer product for the remainder of the territory (the world) not acquired in the Letter of Intent of March 30, 2004, (http://www.skinvisible.com/news/releases/2004_03_30.htm) which is the USA, Canada, and Mexico.
The "Option Letter" gives Dermal Defense 90 days from November 13 to exercise the option. If Dermal Defense exercises the option and enters into a Sales & Marketing Agreement for the additional territory they will be required to pay a fee of $1 million for these rights. In addition Dermal Defense agrees to pay a royalty fee of 5% on product sales of the Antimicrobial Hand Sanitizer.
Mr. James Graves, President of Dermal Defense, Inc. states that, "Since we are building a brand name in Dermal Defense and as interest continues to come from other countries including Europe and Asia for the Hand Sanitizer it became apparent that we had to have the exclusive rights to this product for the entire world." Dermal Defense has been successful in introducing the product to law enforcement, fire, rescue and the US military. In addition the product is widely used in the Food Industry including hotels, casinos and restaurants in the fight to stop the spread of germs caused by cross contamination through hand to hand contact. In addition, Dermal Defense has commenced a new packaging design for retail product sales in Canada.
Independent studies indicate that the Dermal Defense formulation offers significant advantages over alcohol-based sanitizers marketed to kill bacteria and viruses on the hands. The Dermal Defense formulation offers continuous protection, long-term kill of up to 4 hours per application, undiminished by hand washing or perspiration. In comparison, the alcohol gels provide instant protection but offer no long-term persistence.
"This Option Letter, if exercised allows us the opportunity to stay focused on the research and development of new polymer technologies and formulations while providing a steady stream of revenue from product sales and royalties," says Mr. Terry Howlett, Skinvisible's President.
Headquartered in Las Vegas, Nevada, Skinvisible, Inc. is focused on the development of innovative topical polymer-based delivery systems and related technologies incorporating its patent-pending formula/process for combining hydrophilic and hydrophobic polymers into stable water emulsions. Skinvisible's primary marketing and sales objectives are to license its technologies and/or sell its delivery systems to provide enhanced product performance for established brand manufacturers and providers of prescription, over-the-counter, cosmetic, and skincare products. In addition Skinvisible formulates and manufactures products for private label customers.
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 10-QSB for the quarter ending September 30, 2004).
For further information, please contact T. Howlett of Skinvisible, Inc., +1-702-433-7154, or fax, +1-702-433-7192, terry@skinvisible.com; or Media, Tommi Hanley of Thompson Lloyd Communications, +1-250-860-9959, tommi.tlc@shaw.ca, for Skinvisible, Inc.
|
Press Release Index
New Press Release Alerts:
If you are interested in receiving corporate and new product development news from Skinvisible, simply enter your email address below.
|