- Canopy Growth would license and exclusively sell certain Skinvisible Pharmaceutical topical products in Canada while having first rights to market those products in all countries except China and the U.S.
- Skinvisible to develop Invisicare® technology hemp-based products to be sold under license by Canopy Hemp Corporation in Canada
- Skinvisible’s Invisicare® technology cannabis-based topical products in the future, if and when THC- and CBD-infused products are legalized in Canada, are also in the agreement
Skinvisible Pharmaceuticals, Inc. (OTCQB: SKVI) and Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF) have announced a definitive agreement for Canopy to license and have exclusive marketing rights to Skinvisible’s topical treatments in Canada (http://dtn.fm/N25lZ). Canopy shall have the first right of refusal to do the same for all other countries, except for China and the United States.
The agreement concerns Skinvisible’s two distinct product lines made of Invisicare® technology. Skinvisible will create unique topical hemp-based products to be launched by Canopy Hemp Corporation in Canada. Further, it would call for potential cannabis-based topical products, using Invisicare® technology when and if regulations allow the sale of CBD- or THC-infused topical products in Canada.
Skinvisible Pharmaceuticals is a R&D company that licenses its proprietary formulations made with Invisicare® in topically-applied products. Those products are designed to hold active ingredients on the skin for extended time periods, allowing for controlled release of actives. Invisicare® is a technology with 14 international patents and is able to offer improved delivery of ingredients (CBD or THC). The company notes that demand for topically-delivered cannabis is growing.
Canopy Growth is a diversified cannabis company that offers curated cannabis in dried, oil, and capsule forms. The company, which has numerous greenhouses and other production facilities, has already entered numerous partnerships with leading firms for sales in Canada and abroad. Canopy Growth has interests and operations on four continents globally and sells cannabis products, conducts R&D and educates healthcare practitioners.
“This agreement will have an immediate impact on our hemp product lines as this proven technology can be applied to a hemp oil product in today’s regulatory environment,” said Mark Zekulin, president of Canopy Growth.
President Terry Howlett of Skinvisible added, “This agreement with Canopy Growth Corporation is a significant milestone for Skinvisible. Canopy Growth is the leader and innovator in the cannabis space with over half a million feet of GMP-certified cannabis cultivation, a robust hemp operation, multiple commercialized brands in Canada, and rapid international expansion and partnerships underway including Germany, Australia, Brazil, Chile, Denmark and Spain.”
For more information, visit the company’s website at www.CanopyGrowth.com
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