The agreement includes licensing fees payable in milestones based on regulatory approval in Europe and China, anticipated to occur within twelve months or less. RHEI will pay Skinvisible a royalty on product sales and be responsible for seeking regulatory approval, manufacturing, and commercialization. Skinvisible retains rights to DermSafe for the retail/consumer markets within Europe and China. This agreement also provides Skinvisible with all data generated by RHEI to pursue regulatory approvals within the U.S. and internationally.
"These two new agreements with RHEI represent $1.5 million in licensing fees and on-going royalties on product sales for Skinvisible," stated Terry Howlett, President and CEO of Skinvisible. "This agreement provides another opportunity for RHEI to leverage its international affiliates with established client lists in Europe and China. It is an important step in accelerating the worldwide commercialization of Invisicare products, and represents the third DermSafe licensing agreement, with previous agreements covering Canada and South East Asia."
"There is a critical need for a safe and effective hand sanitizer made without alcohol for use in hospital and nursing homes," said Peter Vanderbruggen, Managing Director, Leeward Ventures SICAR SCA. "We have been very impressed with the clinical studies conducted on DermSafe on bacteria and viruses, including influenza A viruses, C difficile, and MRSA. We are excited to be working with Skinvisible to introduce this innovative product to our customer base, and to help protect healthcare professionals and their patients."
DermSafe is a unique, patented hand sanitizer, formulated with 4% chlorhexidine gluconate, an active ingredient used safely, internationally, as a pre-surgical scrub and in periodontal products. DermSafe is made without alcohol, and is proven to kill both bacteria and viruses for up to four hours, even with hand washing.