Read this carefully, it was in the Rights Issue Prospectus. Do you really think the latest announcement refers to 3m, I don't think so, there are currently two multinational players here, as always DYOR.
Business Development and Partnering In October 2008, the Company announced that it had entered into a second agreement for advanced feasibility development of magnetically enhanced patch implementations of an important OTC drug compound with worldwide sales. The US$355,000 advanced feasibility program investigated the level of performance enhancement provided by both Dermaportation and ETP in a fully developed patch formulation against an existing and established gel product with international sales. The patch formulation, patch prototyping and in vitro testing components of this program were conducted in the USA. Following the completion of the formulation and stability studies in July 2009, the Company provided a range of Dermaportation fields and ETP materials for direct comparative testing against the established gel product. Over the four-week study period, Dermaportation and ETP materials were optimised to the Azopharma formulation and data on the rates of penetration through human epidermis were generated. The level of enhanced delivery over and above that of the established gel product met the Company?s expectations for both Dermaportation and ETP technologies. The study results have been released to the market via an announcement dated 1 October 2009.
The Company has also released to the market a materials transfer agreement entered into with a major U.S. pharmaceutical manufacturer where they will undertake certain evaluations of the OBJ technologies for possible use in their operations.
And there may be additional announcements on the way.........
Research and Development The technology testing Update of April 2009 set out the results of a multi-test investigation into the effect of the Company?s newest low-cost ETP patch technology on the delivery and bioeffect of the common cosmetic compound, Urea. The ability of these techniques to demonstrate biological effects in living tissues has given the Company greater insight into the effects of its technologies and a new method of demonstrating the benefits of the Company?s technologies in new products. This work was expanded in July 2009 through a parallel study which replicated the conditions of the volunteer study and collected data on drug penetration rates through human epidermis, rather than the bioeffects. The results of this study have confirmed that the downstream biological effects of the human volunteer study had a high correlation with drug delivery rates from the in vitro study. This established an important in vitro-in vivo correlation which validates the reliability of past in vitro results and more recent in vivo studies. Results of this work have generated interest from the international cosmetic sector and the Company is now in discussions with potential industry partners regarding evaluation and development programs across a range of applications.
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