Ann: Non-Renounceable Rights Issue to Eligible In, page-2

re: Ann: Non-Renounceable Rights Issue to Eli... Ha Longman, one day late is still late....got to be better next time !



After reading through the options ann, there are some interesting bits of information when taking the time to read the fine print in the lower parts of the document.


First of all, the FIM technology is NOT mentioned anymore.
Product, partnering and development activities are only mentioning Dermaportation and ETP technologies.

This in line with the increasing secrecy of exluding ( now repeatedly ) 3M as our manufacturer, now referred to as a major U.S manufacturer.
Instead of revealing more, more is undisclosed.

This, above all, leads me to the conclusion that 3M indeed is falling under the confidentiality agreements of GSK regarding their FIM development.

The FIM development was a central part of producer and partnering activities in the annual report.

In my opinion, this means that GSK is tightening the knot around this technology.



We have several patents listed now, showing us the cosmetic and pharmaceutical applications our technology is used for.



Several extracts from the document I find worthwhile to contemplate:

The compnay has also previously released a material transfer agreement entered into with a major U.S. pharmaceutical manufacturer where they will undertake evaluations of the OBJ technologies for possible use in their operations.

For " possible use in their operations".
Now we have it in black and white that 3M is not simply our manufacturer but also is interested in applying our technology in their own operations.


6.3 Business Development and Partnering
The advanced feasability program investigated the level of performance enhancement provided by both Dermaportation and ETP in a fully developed patch formulation against an existing and establish 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, the Company provided a range of Dermaportation fields and ETP materials for direct comparative testing against the established gel product. Over the study period, Dermaportation and ETP materials were optimised to the Azopharma formulation and date 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.

We optimized the Azopharma formulation further. These are the first indirect news of the so far silent first FMCG which hired Azopharma for its testing.

Again, OBJ's technologies have met or exceeded expectations.



The ability to demonstrate biological effects in living tissues has given the company greater insight into the effects of its technologies in new products. The work was expanded through a parallel study which replicated the conditions of the volunteer study and collected data on drug penetration rates through human epidermis, rather that the bioeffects. The results of the study confirmed that the downstream biological effects of the human volunteer study had a high correlation with the drug delivery rates from the in vitro study. This established an important in vitro -in vivo correlation which validates the reliability fo the past in vitro results and more recent in vivo studies.


We now have confirmation that in vivo studies were conducted, most likely, as previously assumed, within 3M and probably within the FMCG's labs.


In vivo studies have now held up to in vitro enhancement results and this is extremely encouraging as we are entering product development now.
Expect the confidentiality to tighten further until we hear license deals announced shortly.

The very fact that OBJ management includes a risk paragraph shows that they get ready to legally be secured for the time when license deals are pronounced.
We have not seen this previously in announcements, yet another detail of exciting things around the corner.



GSK has no indirect mention in the document, most information relates back to the FMCG's.

I believe that we are getting close to something material surrounding the GSK FIM development.