OBJ Ltd (ASX:OBJ) has signed a master licensing agreement (MLA) with one of the world’s largest fast-moving consumer goods companies, Procter & Gamble (NYSE:PG), for OBJ’s micro-array drug delivery technology.
OBJ has developed magnetic micro-arrays that influence the movement and penetration through the skin of drugs, active ingredients and formulations at the molecular level.
The MLA is an umbrella agreement that defines all of the detailed licensing terms and conditions that will be applied to products licensed by P&G, containing OBJ’s micro-array technology.
Under a product development program, P&G retains worldwide exclusive right to commercialise OBJ’s non-powered magnetic micro-array technology within specifically defined product categories.
Multiple work plans covering various product development programs with numerous P&G brands have been executed, with additional items under negotiation.
The new MLA will apply to all products that have moved through the development program to commercialisation.
The agreement defines all of the detailed terms for the distribution and sale of products containing OBJ’s technologies and will facilitate multiple product distribution.
OBJ generated $1.4 million in sales for the half year ended 31 December 2015.
The company had a cash balance of $7.33 million as at 30 June 2016.
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