half yearly, gsk fim and strategic alliances, page-4

Nice post kashmirz !


Here some wordings I found of interest when reading the report, apart from the ones you already mentioned:

OBJ continues business development initiatives with an increasing number of major international
pharmaceutical, cosmetic, homecare and consumer goods manufacturing companies as potential
partners with which OBJ can develop its products and technologies

Interesting here the increasing number of partners, as well as the distinction between homecare and FMCG's.

This could relate to GSK being both, one of our major pharmaceutical as well as homecare partners, one through the adaption of our ETP and DP technologies, the other through the FIM technologies.


This wording regarding the GSK collaboration for the FIM development sounds a lot more material than the previous discussions regarding such a development:

This was followed by an announcement that GSK Consumer
Healthcare Group desire to proceed with the first development program using the Company
new Field-in-Motion (FIM) Technology.


When I read desire to proceed in biotech, I get very sharp ears.

We are obviously now in vivo testing programs with GSK.
As we know from the previous ann, already existing in vivo and in vitro results were matched and a replicated , to quote previous ann, human volunteer study had the same results.

Reading between both anns, the replicated human studies were most likely conducted for the FMCG and replicated for GSK, plus they are matching.
Since one development already has successfully concluded human volunteer studies, GSK will not spend lengthy periods of time on this, particularly since we are looking at a homecare application with low regulatory hurdles.

The timing schedule for FIM development program will surprise holders, in my opinion, since general effectiveness of our technologies are already proven at GSK through testing during the last 4 years.
If I needed confirmation that 2011 will be the year of a license deal with GSK, here it is.

In vivo testing was already done from both OBJ as well as partners, so in vivo studies for our FIM technologies will probably go as anticipated, similar to the progress for the FMCG announcing the Strategic Alliance.


As you also highlighted, exclusivity for all FIM technologies seems the way forward which will drive the milestone payments higher, great news for us shareholders.

Dr McIldowie's 2 new assistants were also news not heard from before.
Internal research and partnering activities are obviously both expanding which requires an assistant for both departments.
A clear sign of increased maturity of partnering activities.

The Company remains focused on advancing the development of its magnetic micro-array,
transdermal and drug delivery technologies either in collaboration with international partners or as
internal development programs.

That shows great confidence from management.


To conclude, when reading this I have to ask myself why shareprice is lingering near its 52 weeks low:

The Company has also expanded its internal resources, strengthened its financial position and is
now able to expand and accelerate both its technology and product development activities.


Much to look forward to, this report doesn't need the ability to read between lines, its a clearly pronounced strongly positive outlook with development deals on the horizon.