have just spoken to glyn

Ok guys just got off the phone with Glyn and he was very much subdued in his responses. So no positive vibes coming from him it was a very neutralised conversation.

OK so yes to anyone who had any doubts regarding the US study results last year, it was done by 3M and he said that if they did like it they would move on as they have, so that is a tick. Was very interesting indeed that he outlined the exact same process it takes to 'partner with 3M' so please refer to my earlier post as i'm convinced that this is now the step that will be taken in order to reach commercialisation in the future.

So my first question was what was 3Ms initial intention when signing the MTA and Glyn said that first off they did independent research (US study results) and they liked what they saw so they opted to move onto the next phase which was the internal tests, the MTA. Basically they tested the products out to see its compatibility with their other product range. He also said that the company know very little regarding the process so far regarding MTA.

I then asked him what his expecations were. He replied that did didn't know and that anything could happen we'll just have to wait and see and that OBJ have been in dealings with 3M for some 3years now. Once again a very subdued response.

My next question is whether we should be expecting any announcements. Once again a subdued response which was answered very broadly in saying if there was any news regarding 3M or talks with any other companies which are of concern to the market then it will be released.

I then went on to question why the announcement was not marked market sensitive. He answered that he did not think that the 60 day extension was neither positive nor negative so that is why it was not marked price sensitive.

He also told me that at the moment OBJ are only in talks with 3M and that there are no other companies, yes there were some companies in the past but at the moment its all 3M.

I also asked him to clarify the licensing of OBJs technology and his response was simply for the company to license their technology to as many companies as they can and i then jumped in and asked whether or not they would consider 3M buying out the technology. He replied that OBJ would be open to anything but that is some thing that the team at OBJ have not discussed yet. He said that if it was beneficial to the company then they would allow it.

I just tell it like i heard it straight from the horses mouth.
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Guys just have a quick read of this if you havn't already it should give you a pretty good idea of whats going on:

Interesting to note that on the 3M website(USA) they have provided us with the process taken in order to successfully commercialise a product:

1)Paper Feasibility Assessment (PFA)
In this process 3M begin with a complimentary pre-feasibility assessment where thye asses the compatibility of 3M's transdermal technology with the compound you as a company have provided. The success of the PFA will determine whether or not to consider a Feasiblity study, which is the next step.

In terms of OBJ:
As with the study results we know that 3M have tested our product and because it is complimentary they had paid for the test themselves so thats a tick, they liked what they saw and are now moving onto the second stage.

2) Lab Feasibility
IF it is determined that 3M like what they saw they will conduct a set of experiments to give partner companies the information need to make an informed decision on whether this product is feasible or not. IMPORTANT: This process is the Go/No Go milestone decision which is UNDER CONFIDENTIAL DISCLOSURE. They also identify key technical risks and establish a timeline and cost estimate for full development.

In terms of OBJ:
Well as was announced late last year. We have entered a MTA so this is the make or break stage for OBJ. And so this 2nd stage can provide us with a big clue. 3M may be very interested in this product and need extra time to establish the timeline and cost estimates. Or their partnering companies are still assessing the information provided by the tests so far.

3) Development
In this stage a plan is devised to refine a work plan which will continue to evolve over the course of the development. and reads as follows: According to the product definition 3M will manufacture clinical supplies and work to fulfill the Chemistry, Manufacturing and Controls (CMC) section for global regulatory approval. 3M will also work to scale-up and manufacture for phase III supplies and be prepared to launch the product within the established timelines. In compliance with cGMPs and global regulatory guidelines, 3M provides product formulation and stability testing, analytical method development, process development and scale-up to production, and toxicological support of components. In addition, 3M can assist with early clinical studies.

In terms of OBJ:
This is will our next phase if the MTA is successful, it just goes to show how lengthy this process is. So a 60day increase in hindsight is not long at all in terms of the entirety of this process.

Finally is Commercialisation: Well i think we all know what happens here and if we do reach it i'm sure the $1 mark will be no problem.