The lack of comment on Coty in OBJ annual report was interesting. I thought I'd look back to previous annual reports and this is what they said below. Hard to be sure, but considering year on year there seems to have been less and less space allocated to Coty discussions, if I were a betting man I would say that maybe this path has ended with a handshake and a thanks but no thanks.
2016
COTY - PHILOSOPHY Coty continued its claims support and consumer studies during the period utilising OBJ’s powered programmable array technology, known as Dermaportation. During the year, OBJ developed and supplied additional devices for these evaluations. During the year, Coty sought confirmation of the regulatory status of the Dermaportation Device from the FDA and OBJ was delighted when the FDA confirmed that the technology did not represent a medical device and could be marketed in the USA for cosmetic skincare use without further FDA clearance.
2015
During the financial year, successful completion of the efficacy study in the USA using OBJ’s initial hardware design led to the signing of the Product Development and Licensing Agreement Term Sheet with Coty Inc. The Company has worked closely with Coty in the development of the end product that contains OBJ’s electronic dermaportation technology and this is now in the prototype stage.
While the Company has a number of international partnering programs at various stages of development, the relationships with Procter & Gamble (P&G) and Coty are particularly important initiatives.
COTY - PHILOSOPHY - PRESTIGE SKINCARE Development of the Coty enhanced delivery device development accelerated during the year with completion by OBJ of the delivery electronics and production of the first 3D working prototypes. These prototypes are now in the hands of Coty’s New York team for their approval. This is a significant project for OBJ as it is possibly the first commercial application for the Company’s dermaportation technology following the acceptance of the prototypes by Coty. The patents for dermaportation have already been granted to OBJ for the USA and Europe.
Business Development activities were at a high level during the reporting period, with a number of programs achieving significant advancement. The execution of the Coty License and Term Sheet for their clinical trials,....
2014
During the year, OBJ has also worked extensively with Coty’s Philosophy group in undertaking the first consumer trials using devices based on OBJ’s powered dermaportation technology for skin care application.
the relationships with Procter & Gamble (P&G), GlaxoSmithKline (GSK) and COTY are particularly important initiatives.
COTY - PHILOSOPHY - PRESTIGE SKINCARE The COTY relationship moved forward during the year with the completion of a clinical efficacy study conducted in the USA in late 2013. This clinical study sought to evaluate the effect of OBJ’s powered Dermaportation technology on key cosmetic outcomes using both expert assessment and consumer perceptions. A development agreement has now been executed that will further refine the product design before an intended consumer trial being undertaken during the 2015 financial year. This exciting development includes the first potential commercialisation for OBJ’s powered dermaportation technology for which patents have been granted to OBJ in Europe and the USA. The COTY product development incorporates the dermaportation process into a new “wand” format which is the first component in OBJ’s “e-Skin” family of products that ultimately may allow consumers to personalise their cosmetic and skincare regimes to suit individual’s skin types, ages and environmental conditions. The image (right) sets out one format in which the e-Skin system could be deployed. A number of other parties have also expressed an interest in various products based on the powered and e-Skin technology platforms.
OBJ Price at posting:
3.7¢ Sentiment: None Disclosure: Held
(20min delay)