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Skinvisible Provides Update on Proposed Merger with Quoin Pharmaceuticals Combined company to address both the Opioid and PTSD crises

LAS VEGAS, NV– March 26, 2018 - Skinvisible, Inc. (“Skinvisible”) (OTCQB: SKVI), is pleased to announce the signing of a merger agreement with Quoin Pharmaceuticals, Inc. (“Quoin”) subject to tax, accounting, legal, regulatory, and other considerations, including both SEC and Skinvisible shareholder approval. The merger proposal specifies that privately-held Quoin Pharmaceuticals, Inc. will merge into a wholly-owned subsidiary of Skinvisible. Post-merger, Quoin shareholders will own approximately 72.5% of the outstanding shares and Skinvisible shareholders will retain approximately 27.5% of the outstanding shares, prior to the effect of required financings and conversion of a certain portion of Skinvisible’s debt. Skinvisible’s Board of Directors has unanimously approved the merger agreement and recommends that all Skinvisible shareholders vote in favor of the transaction.

“We believe the proposed merger with Quoin Pharmaceuticals is in the best interest of Skinvisible shareholders,” said Terry Howlett, President of Skinvisible. “The experienced Quoin leadership team coupled with the significant unmet medical needs they are targeting makes a powerful combination that could offer significant potential value to shareholders. We look forward to building a new future for Skinvisible with Quoin that will bring innovative medical products to the market and maximize shareholder value.

“We are very pleased to announce this exciting milestone for Quoin. We believe that the combination of our proprietary drug delivery platform with Skinvisible’s fully patented technology will pave the way for the development of highly differentiated products with broad IP protection.” said Dr. Michael Myers, Chairman and CEO of Quoin Pharmaceuticals. The combined company plans to focus initially on major societal problems that result in the death of over 135 people in the US every day, the US opioid epidemic and the military veteran suicide crisis, by developing treatments that target these major unmet medical needs using Quoin’s differentiated product portfolio.

Skinvisible is currently quoted on the OTCQB, operated by OTC Markets Group Inc., under the ticker symbol SKIV. Upon closing of the merger, Skinvisible will be renamed Quoin Pharmaceuticals and the company’s symbol will be changed to something that more resembles the new name. The transaction is subject to customary closing conditions, including the receipt of Skinvisible shareholder approval and certain other conditions, and is expected to close by the end of the second quarter of 2018.

About Quoin Pharmaceuticals, Inc.

Quoin Pharmaceuticals is a specialty pharmaceutical company dedicated to developing products that help address major societal issues including the opioid epidemic and the military veteran suicide rate. Quoin’s two lead products are expected to be different applications of a single NMDA receptor antagonist delivered transdermally. QRX001 is a single use transdermal patch designed to provide up to 72 hours of effective post-operative analgesia whilst significantly reducing opioid consumption. Quoin intends to apply for Fast Track status for QNRX001. The company’s second product, QRX002 is a once-daily transdermal for the treatment of military related PTSD with suicidal ideation. Quoin believes QRX002 could be the first product approved to treat this major unmet medical need and could be a candidate for both Orphan Drug and Breakthrough Therapy Status. Quoin expects to commence development activities with respect to each of these products and to generate Phase 2 data in 2018.

 

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