Skinvisible, Inc., a pharmaceutical research and development company, announced that the company has entered into an exclusive license agreement with Mayquest Pharmaceuticals Pte. This license agreement grants Skinvisible the exclusive rights for the product Dermsafe in Singapore, Malaysia, Thailand, Indonesia, and the Philippines. Dermsafe is a patented antimicrobial hand sanitizer lotion proven to kill the H1N1 swine flu virus.
Under the terms of this agreement, Mayquest is to pay an upfront license fee in milestones for the exclusive manufacturing and marketing right. Skinvisible will also receive on-going royalties derived from product sales.
Mr. Terry Howlett, President and CEO of Skinvisible, stated, “Mayquest is an excellent partner to bring DermSafe to both the retail and healthcare market in Southeast Asia”
Howlett added, “This agreement represents an important step in accelerating our worldwide approval and commercialization of DermSafe for the prevention of the spread of the swine flu and other viruses and bacteria. Mayquest
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