This agreement gives Rhei the first option to license the exclusive rights for Skinvisible’s dermatology products for the territory of China, Hong Kong and Taiwan.
Specifically the agreement is for over-the-counter and prescription dermatology products formulated with Invisicare, a patented polymer delivery system that provides life cycle management for topical products, which have been approved in a reference country. Terms of the agreement were not disclosed.
As part of the agreement, Rhei will augment its existing product lines by seeking approval and then marketing and manufacturing Skinvisible’s Invisicare dermatology products in the approved territory.
Terry Howlett, president and CEO of Skinvisible, said: Skinvisible looks forward to this collaboration with Rhei as we continue to implement our strategy to pursue an accelerated expansion worldwide of licensees for our dermatology formulations enhanced with Invisicare.
We are confident that Rhei can leverage its regulatory expertise, marketing capabilities and distribution channels to successfully commercialize Skinvisible products in the Chinese market. Additionally, we continue to focus on expanding our revenue base by negotiating other international partnerships and licensing agreements.