Ovation Science Inc. acquired World Rights to DermSafe® Hand Sanitizer from Skinvisible, Inc..
February 12, 2020
Share
Ovation Science Inc. (CNSX:OVAT) acquired World Rights to DermSafe® Hand Sanitizer from Skinvisible, Inc. (OTCPK:SKVI) on February 3, 2020. Ovation Science Inc. agreed to pay to Skinvisible a single digit royalty interest on all net sales on the licensed products subject to adjustment in certain situations plus a license fee payable.
Ovation Science Inc. (CNSX:OVAT) completed the acquisition of World Rights to DermSafe® Hand Sanitizer from Skinvisible, Inc. (OTCPK:SKVI) on February 3, 2020. As of June 15, 2020, the license agreement was revised and it extends the License Agreement indefinitely. In addition to the extension, Ovation will also be transferred two Health Canada Drug Identification Numbers - 02310589 and 02355558, DermSafe trademark; DermSafe clinical data; and the right to patent DermSafe in countries where not currently patented.
Skinvisible, Inc., through its wholly owned subsidiary Skinvisible Pharmaceuticals Inc., is a pharmaceutical research and development (R&D) company. The Company is engaged in developing and patenting a polymer delivery system, Invisicare and formulated over forty topical skin products. The Company's product, Pivotal, is a patented polymer delivery system technology Invisicare. Invisicare is a patented polymer delivery system that enhances the delivery of active ingredients for topically applied skin care products. Its patented technology has a formula and process for combining active ingredients with a delivery system that extends the duration of time the product remains on the skin and active. Invisicare is specifically formulated to carry water-insoluble active and certain cationic active ingredients in water-based products without the use of alcohol, silicones, waxes, or other organic solvents.
SKINVISIBLE, INC. 
