1."So you reckon page 4 of the AGM presentation was a list of companies who began in 2012 to "work with OBJ as their technology partner"?"
I believe that's what the presention states, correct.
2.Okay, then what does "technology partner" mean?
As a "Technology Partner" OBJ provides expertise in the creation of new microarrays to meet Partner objectives, rather than providing existing or off the shelf materials, otherwise OBJ would have to be considered a "supplier"
3."What kind of agreement?"
A Technology Partnership would probably begin with a non-disclosure agreement (NDA)
4."Asking OBJ to test?"
Please refer to the answer given to question 3.
5."OBJ offering to test?"
Please refer to the answer given to question 3.
6."It's pretty vague."
Sorry
7."Did all these companies sign agreements without OBJ announcing them properly?"
Did all these companies sign non-disclosure agreements without OBJ disclosing them...? Hmm, that may have been the general consensus ;)
8."And did Pfizer allow OBJ to mention them in this way?"
I'm not sure Pfizer have allowed OBJ to "mention them" in any way, however if you're refering to OBJ referencing a partners position in certain markets, I would imagine this may still have to be run past the legal department of the world's largest pharmaceutical company, yes.
9."That suggests the relationship would be either insignificant or the confidentiality is not strong..."
I believe the word used at the AGM to describe the progression of this partnership program was in fact, "aggressive"
FYI
"The majority of OBJ’s potential partners, including the announced relationships with GSK, 3M and FMCG companies, have widely diversified product portfolios across multiple product categories and sectors. The potential for OBJ’s technology platforms to add value and product innovations across multiple product categories, multiple brands and in a wider range of markets increases the appeal of the Company as a long term technology partner. The majority of our current partnering discussions involve the adoption of the OBJ technology on a corporate platform, rather than a product by product basis."
By referencing a partners position in certain markets rather than publicly disclosing its name is one way to avoid alerting competitors to where OBJ partners are focusing their developments...
Here's one such example of what happens when a partners name is disclosed...
Kline Shows Growth of At-home Skin Care Devices in China
With the Chinese market boasting nearly 100% growth in 2012 and double-digit growth seen across all surveyed regions, the largely under-penetrated but booming at-home skin care devices market suggests even greater opportunity for growth, finds the recently published “Beauty Devices: Global Market Analysis and Opportunities” by Kline & Company.
The Chinese market's extraordinary gain is partly attributed to the aggressive growth of market leader Nu Skin, which, fueled by the expansion of the number of its representatives in 2012, registered gains of over 100% for its Galvanic Spa device. Similarly, the entry of Procter & Gamble’s Olay Pro-X and SKG in China further stokes market growth. Even more encouragingly, the Chinese at-home beauty devices market is still in its infancy and generally falls into two basic, but disparate price groups with price points ranging from $20 to $300, with the latter reflecting the country's increasing affluence. Beyond China, with its anti-aging device Galvanic Spa, Nu Skin dominates one-third of the South Korean market.
Karen Doskow, Kline's consumer products practice industry manager, notes, “The Asian market in particular is still essentially nascent, and many multinational companies are only now entering the market. Yet Asian OEMs are already serving the global market through parts manufacturing or producing private label products for other companies, such as South Korea's Lotts manufactures devices for the Schick Medical’s German SQOOM device.”
Although many major international brands operate pan regionally, overall brand success differs from region to region. While Nu Skin leads the market in China and South Korea, seven of the top ten brands in China are local in nature. In South Korea, second place is held by local Lotts with over 13% of domestic market share. Japanese brands Ke-Non, Ya-Man, and ReFa are claiming just about one-third of the market share in Japan. The European market is also being shaped by regional brands, such as the leader in permanent hair removal, Lumea by the Dutch-based Phillips, and the anti-aging device SQOOM by Germany’s Schick Medical.
The U.S. retains its global market share lead with growth nearing 20% in 2012, driven by new product launches from existing marketers, such as Nu Face, BelleCore and Tria, in addition to new players like University Medical, with its well received anti-aging WrinkleMD Eye entering the fray. Blockbuster brand Clarisonic continues to deliver high sales growth with the support of its new parent company, cosmetics giant L’Oréal.
“Convenience and a certain economic rationalism are motivating consumers to bring home the beauty experience traditionally provided by estheticians or physicians,” continues Doskow. “It's a large and growing phenomenon, with at-home beauty devices offering multiple benefits a notable driving force. Presently, there are few truly multifunctional devices on the market, but as is already the case in Asian markets, these will become the norm rather than the exception.” - Kline Shows Growth of At-home Skin Care Devices in China ____________________
The agreement will see Coty’s skin care brand Philosophy and OBJ collaborate to develop, program and manufacture e-Skin systems with the proprietary delivery fields necessary to control a number of key ingredients used widely by Philosophy. Philosophy was acquired by Coty in 2010 as its prestige skin care brand and now ranks in the top 10 skin care brands worldwide.
The recent allowance of the Dermaportation patent by the European Patent Office and the granting of the same patent by the U.S. Patent Office in 2012 are fundamental to the collaboration. Dermaportation was OBJ’s first drug delivery technology and has been incorporated into the e-Skin cosmetic device system. The technology generates precise time-varying magnetic fields via an onboard microprocessor and is suitable for repeat applications, extended usage and multi-formulation requirements. The device is able to be implemented as a power patch, a wand, an instrument or an iPod-like device.
The more recent filings of patent applications with the U.S. and European patent offices over a number of key innovations that make up the e-Skin system, add to the overall strength of the eSkin intellectual property. - Coty Teams with Australian Tech Company
OBJ Price at posting:
1.5¢ Sentiment: LT Buy Disclosure: Held
(20min delay)