Skinvisible is a pharmaceutical R&D and IP licensing company built around a single core asset: Invisicare, a patented polymer drug delivery system that bonds active ingredients to the outer layers of skin for extended periods, enabling controlled release, reduced irritation, and wash-off resistance. Skinvisible has used Invisicare to develop over 40 topical product formulations targeting dermatology, skincare, and OTC markets. The company does not manufacture or sell products directly — it licenses Invisicare and its formulations to pharmaceutical and consumer goods companies, who handle manufacturing, marketing, and distribution. Skinvisible earns upfront license fees, ongoing royalties on licensee net sales, and milestone payments tied to regulatory or commercial events. The company runs a lean, two-person operation, and the heavy R&D investment phase is largely complete, so the business is focused on monetizing the existing portfolio. Skinvisible's most significant licensee is Quoin Pharmaceuticals, which is developing QRX003, an Invisicare-based lotion targeting Netherton Syndrome, a rare genetic skin disorder with no approved treatments. QRX003 holds FDA Fast Track and Orphan Drug designations, and Quoin is targeting a Phase 3 trial completion by end of 2026 with a potential FDA filing in 2027. A successful approval would trigger a $5M milestone payment to Skinvisible plus royalties. Beyond dermatology, Skinvisible is pursuing partnerships to license new Invisicare formulations for transdermal delivery of GLP-1 drugs for obesity and glucose-controlling agents for diabetes.