OBJ LIMITED (ASX: OBJ) should trade higher today after executing a second Analgesic Study Agreement with GlaxoSmithKline (NYSE: GSK) following the successful completion of the Phase 1 program.
The agreement sets out a development program of the design and optimization of magnetic micro-arrays specifically for GSK proprietary formulations".
In 2012, OBJ and GSK entered into a Phase 1 Development Agreement designed to determine the effectiveness of OBJ’s Field-in-Motion applicator technology on the transdermal delivery of a number of GSK proprietary analgesic formulations against competitor products.
Following completion of the Phase 1 program, technical discussions commenced on a Phase 2 Study agreement.
GlaxoSmithKline is the world's fourth-largest pharmaceutical company with an extensive portfolio of products for major disease areas such as asthma, cancer, virus control, infections, mental health, diabetes and digestive conditions.
It also has a large consumer healthcare division including Oral healthcare, which is currently working with OBJ under separate agreement for the development and testing of a new toothbrush technology utilising OBJ’s field-in-motion magnet micro-array technology.
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