OBJ is pleased to provide shareholders with an update on a number of the major programs the Company is undertaking with partnering companies and with its own BodyGuard project.
COTY In February 2013, the Company announced an exclusive Collaboration Agreement with Coty’s prestige skincare brand, Philosophy. This was to allow the clinical trialing of OBJ’s powered technology in specific cosmetic applications. Under that agreement, Coty undertook a human clinical trial in the USA, using devices developed and manufactured by OBJ at its Perth facility. That clinical program concluded in late 2013.
OBJ is pleased to announce that following recent discussions, the Company has agreed to grant Coty an extension to the Exclusivity Agreement to allow for further product development and consumer research to occur using market ready products. Due to the extreme sensitivity of this work, Coty has approved the use of the following statement within a shareholder update:
"The Exclusivity Agreement with Coty's prestige skin and body care brand Philosophy has been extended to facilitate further product development and consumer research. The parties anticipate that this agreement will be replaced by a Licensing Agreement if Philosophy's commercial objectives are achieved."
The Coty program will utilise OBJ’s powered Dermaportation technology, the patents for which were granted in 2013 for the USA and Europe. The exclusivity granted to Coty under this agreement is limited to the Dermaportation technology and OBJ retains all commercial and licensing rights to Dermaportation and its other proprietary technology platforms and in all other product categories.
PROCTER & GAMBLE The Company recently announced the execution of a Product Development Agreement including the first licensing of OBJ technology for the first consumer product containing OBJ technology.
The strong relationship with the world’s largest consumer products company now extends to three product development programs plus late stage discussions for additional products in five separate categories.
BODYGUARD The Company’s own BodyGuard musculoskeletal patch product development is progressing well with discussions underway with potential suppliers and manufacturers in Australia, Asia and USA. The Company recently commissioned the Emergo Group, a leading regulatory consulting company, to prepare a report for the Board on which BodyGuard’s global regulatory strategy will be based. 30 April 2014
ABN 72 056 482 636 284 Oxford Street, Leederville 6007 Perth, Western Australia Telephone +61 8 9443 3011 Facsimile +61 8 9443 9960 www.obj.com.au
Additionally, the Company’s proprietary Lubricen™ formulation, a crucial component in BodyGuard’s therapeutic effect has been approved for listing by the Australian Therapeutic Goods Administration (TGA).
TGA Listing is an essential component in BodyGuard’s pre-market approval process.
GSK ORAL HEALTH PROGRAM GSK’s clinical Oral Healthcare program is awaiting final Ethics Committee clearance prior to the commencement of the planned human efficacy study. The progression to a larger scale clinical trial, following the successful completion of the first human pilot study, was announced in 2013 and remains an important development activity for the Company’s technology in a global product category.
GSK ANALGESIC PROGRAM The Company is pleased to advise the successful completion of the Phase II Analgesic program with GSK Pharmaceuticals announced in December 2013.
GSK and OBJ first started to explore enhanced analgesic delivery in early 2012. The GSK Analgesic Group, now permanently located in Singapore, is working closely with OBJ in potentially important areas of enhanced topical analgesia.
OBJ Price at posting:
10.2¢ Sentiment: Buy Disclosure: Held
(20min delay)