#Strategic Partnership Enhanced
Ovation Science Inc., based in Vancouver, and Skinvisible Pharmaceuticals Inc. from Las Vegas, have announced an expansion of their strategic partnership to focus on innovative cannabinoid delivery technology. This collaboration aims to address significant challenges within the obesity treatment market through the deployment of Skinvisible's patent-pending Invisicare® technology.
#Market Potential for Obesity Therapy
Industry projections suggest that the global obesity therapy market could reach as much as $150 billion by 2035, indicating robust growth opportunities. The renewed partnership builds on a prior agreement established in September 2017, facilitating a focused approach towards the development of cannabinoid-based therapeutic products that address obesity.
#Exclusive Licensing Agreement
As part of the agreement, Ovation Science gains exclusive global rights to manufacture, distribute, and promote products that utilize Skinvisible's advanced delivery technology specifically for cannabinoids. The collaboration includes access to proprietary formulations and a patent-pending application which is designed to enhance the delivery of glucose-controlling agents through the skin.
#Innovative Cannabinoid Developments
A standout aspect of the partnership is the inclusion of THC-V (tetrahydrocannabivarin), a cannabinoid that recent studies have shown may help with obesity management by acting as an appetite suppressant and improving insulin sensitivity. This innovation aims to provide therapeutic benefits without the psychoactive effects commonly associated with THC, making it a promising candidate for clinical application.
#Improving Patient Compliance
The Invisicare® technology represents a significant advancement in transdermal delivery systems, designed to mitigate gastrointestinal side effects often experienced with oral obesity treatments. This approach not only enhances the bioavailability of therapeutic compounds but could also improve patient comfort, adherence to treatment, and overall treatment efficacy.
#Looking Ahead
Both Ovation and Skinvisible are optimistic about the potential impacts of this partnership on their financial performance and market positioning. By combining Skinvisible's innovative technology with Ovation's established cannabinoid expertise, the partnership is well-positioned to develop effective solutions for unmet medical needs in the obesity treatment sector.
#Key Takeaways
- Ovation Science and Skinvisible Pharmaceuticals are enhancing their partnership aimed at innovating cannabinoid therapies for obesity management.
- The global obesity therapy market is expected to grow significantly, potentially reaching $150 billion by 2035.
- The partnership includes exclusive rights for Ovation to use Skinvisible's proprietary Invisicare® delivery technology.
- THC-V is being explored for its therapeutic potential without psychoactive effects, targeting obesity through improved metabolic health.
- Skinvisible's technology could enhance patient comfort and compliance by addressing common side effects of obesity treatments.
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