Skinvisible, Inc.

Skinvisible, Inc. is a U.S.-based pharmaceutical research and development company focused on its patented Invisicare® polymer delivery system and a portfolio of topical skin products. Through its wholly owned subsidiary, Skinvisible Pharmaceuticals Inc., it develops and out-licenses prescription, over-the-counter, and other topical or transdermal formulations to third-party manufacturers and marketers worldwide.

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— Skinvisible, Inc.
	%
Invisicare® delivery platform	0% Patented polymer-based skin delivery system used to formulate topical and transdermal products.
Licensed topical formulations	55% Prescription and OTC products developed with Invisicare and licensed to third parties.
Royalty income	25% Ongoing royalties from commercialized licensed products and sublicensing arrangements.
Co-development services	10% Early-stage formulation support for pharmaceutical clients before clinical development.
Life-cycle management solutions	10% Reformulation work for products coming off patent to extend product value.

Skinvisible sells primarily to pharmaceutical companies, consumer health companies, and other brand owners that need...

Pharmaceutical licenseesprimary
Buy patented topical or transdermal formulations for development and commercialization.
Consumer health and OTC brandsprimary
License skin-care and over-the-counter formulations for branded consumer products.
Development partnerssecondary
Use co-development support to optimize formulations before clinical testing.
Life-cycle management clientssecondary
Seek reformulations and line extensions for products facing patent expiry.

Skinvisible is headquartered in the United States, but its licensing model is global and its products are out-licensed...

•Headquartered in the United States
•Licensing and royalty model is global in scope
•Commercial partners operate across multiple international markets
•Regulatory approvals in the U.S. and Europe can trigger milestones
•Geographic exposure depends on licensee commercialization success

Skinvisible’s strategy is to monetize its patented Invisicare platform through out-licensing, royalties, and...

Commercialize existing Invisicare licensesshort-term

Upfront fees and royalties are the core monetization path for the platform.

Expand partner pipelinemedium-term

More licensees increase the number of products that can reach market without heavy internal capex.

Broaden addressable marketslong-term

Applying Invisicare outside dermatology can enlarge the commercial opportunity set.

Skinvisible depends on third parties to advance, approve, and commercialize licensed products, so revenue timing and...

critical

Financing risk

The company may need external capital to fund operations before licensing cash flows scale.

Scope: Corporate liquidity and operating runway
Materiality: high

high

Partner execution risk

Royalties and milestones depend on licensees advancing products through development and approval.

Scope: Quoin and other licensees
Materiality: high

high

Intellectual property risk

The business model relies on patents protecting Invisicare and related formulations.

Scope: Patent portfolio and exclusivity
Materiality: high

high

Regulatory approval risk

Milestones and commercialization can be delayed or blocked by FDA/EU review outcomes.

Scope: Licensed topical and transdermal products
Materiality: high

Royalty revenue recognition

Can create lumpy quarterly results

Product sales recognition

Affects quarter-to-quarter comparability

Intangible assets

Can affect asset values and expense recognition

Going-concern and financing disclosures

Important for assessing solvency and continuity

Skinvisible, Inc.

Financing risk

Partner execution risk

Intellectual property risk

Regulatory approval risk

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