OBJ LIMITED (ASX:OBJ) is embarking on a new opportunity in the large scale shaving market through its ongoing and expanding relationship with Procter & Gamble (NYSE:PG).
The new work plan sets out a program to quantify the opportunities for OBJ’s magnetic microarray technology to drive new benefits in men’s and women’s shaving products.
This follows positive results from the use of its technology in a second major trial conducted by P&G.
Results from the test conducted by an independent US-based contract research organisation, showed that its magnetic microarrays delivered substantial statistical improvements in key skin barrier functions and skin health indices when compared to the same formulation delivered without its technology.
Key P&G brands are now being introduced to its technology.
OBJ had revenue of $1.5 million in FY2015, up 59% from the previous year.
It had $3.6 million in cash as at 30th June 2015.
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