P&G SIGNS MULTI PRODUCT PDA INCORPORATING
FIRST PRODUCT LICENCE
OBJ Limited (OBJ or the Company) is pleased to announce that OBJ and Procter and Gamble
(P&G), the world’s largest consumer products company, have entered into a suite of
agreements including a multi-product development agreement (PDA) and an initial licensing
agreement (Initial Licence) that sets the course to commercialize OBJ’s magnetic micro-array
technology.
The PDA, Initial Licence and associated product development
work plans comprise a multi-product, multi-category program
that grants P&G world-wide exclusive access to OBJ’s non-
powered micro-array technology in specific consumer product
categories.
The agreement package includes the over-arching
multi-product and multi-category PDA, the key terms of the
master License that will apply to all new products developed
under the PDA and work plans for the development of the first
three products to utilize OBJ’s magnetic micro-array
technology, which includes the Initial Licence for the first of
these products.
More specifically, the agreement package includes:
? The multi-product, multi category PDA which covers 7 of P&G’s major product
categories.
? The key terms, together with a Term Sheet for the principal business terms, of an
overarching licensing agreement that will be applied to all new products developed
under the PDA.
? The Initial Licence containing the principal business terms of a licensing agreement,
and product development work plan, for the first product to utilize OBJ’s non-powered
magnetic micro-array technology.
? Minimum funding levels (including by R&D investment) required to maintain
exclusivity rights in certain product categories.
? Three funded work plans for products to be developed under the PDA.
? Royalty payments payable to OBJ on further Licensed products.
P&G kindly provided the following statement:
“P&G and OBJ have been working together under a JDA since 2011 with the shared
goal of creating breakthrough innovation that provides meaningful benefits for
consumers. The signing of the PDA, agreed Licensing Terms and initial product
development plans is the culmination of a 3 year development and testing program
conducted under the JDA, involving a number of P&G’s international brand teams.”
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