Vernix has a unique composition that is 80pc water, 10pc fat and 10pc protein. It also contains high levels of antioxidant vitamin E, and proteins that stick to bacteria, viruses and fungi.
But its key secret is the retention of large amounts of water inside specially adapted skin cells called foetal corneocytes.
American researchers at the Skin Sciences Institute at Cincinnati Children's Hospital Medical Centre in Ohio are now trying to create a similar molecular structure artificially.
The primary aim would be to help premature babies.
New Scientist magazine reported: "Vernix might also yield the winning formula for new diaper rash creams and medicated lotions for people with skin problems such as eczema and psoriasis. Perhaps even the ultimate moisturiser."