OBJ’s (ASX:OBJ) shares were trading 6% higher intra-day after its Magnetic Infuser technology developed for Olay, a Procter & Gamble (NYSE:PG) brand, was launched in China.
Olay has launched a premium face mask collection, Olay Magnemasks using OBJ’s Magnetic Infuser technology.
The Olay Magnemasks overnight mask cream was specially designed and developed utilising the magnetic microarray technology to enhance the penetration of ingredients.
When used with the cream mask by gliding the Magnetic Infuser gently across the skin, it infuses more of the ingredients within the skin’s surface by natural magnetic force, as compared to finger application.
The launch of Olay Magnemasks will bring the total number of products that incorporate the licenced OBJ technology to three.
The Magnetic Eye Wand was the first, now in market under both Olay & SK-II brands, the Magnetic Booster was the second, recently launched under the SK-II brand.
OBJ’s royalties from its key licensee for the March quarter, pertaining to skincare launches in Asia were US$94,290.
In addition the company recently received the first royalty fees for the second technology licensed to P&G, amounting to US$125,000.
The company was well funded with a cash balance of more than $5 million as at 30 June 2017.
The Olay Magnemasks overnight mask cream was specially designed and developed utilising the magnetic microarray technology to enhance the penetration of ingredients.
When used with the cream mask by gliding the Magnetic Infuser gently across the skin, it infuses more of the ingredients within the skin’s surface by natural magnetic force, as compared to finger application.
The launch of Olay Magnemasks will bring the total number of products that incorporate the licenced OBJ technology to three.
The Magnetic Eye Wand was the first, now in market under both Olay & SK-II brands, the Magnetic Booster was the second, recently launched under the SK-II brand.
OBJ’s royalties from its key licensee for the March quarter, pertaining to skincare launches in Asia were US$94,290.
In addition the company recently received the first royalty fees for the second technology licensed to P&G, amounting to US$125,000.
The company was well funded with a cash balance of more than $5 million as at 30 June 2017.