OBJ (ASX:OBJ) has announced two new Product Licensing Term Sheets with Procter & Gamble.
OBJ develops proprietary magnetic micro-array drug delivery and product enhancement technologies for the pharmaceutical, healthcare and consumer goods sectors.
Under the new Licensing Term Sheets and Work Plans, the first 200,000 devices delivered to P&D will be co-packaged with the company's skincare products prior to distribution through its global sales channels.
"The first shipment under the newly-executed Licensing Term Sheets represents only the initial stocking volumes in a much larger roll-out plan which will span multiple P&G brands," said OBJ.
Dr Suda Sudarsana, Global SK-II R&D Franchise Leader said: “OBJ helps us take our skin care experience to a new level by combining our knowledge and expertise in biology and chemistry with OBJ's expertise in diamagnetic and Physics, all in pursuit of leveraging science-based innovation to delight our consumers.”
The new Licensing Term Sheets, referred to by the P&G internal codes of Wave I and Wave II, covers two types of devices developed by OBJ for use across multiple P&G brands.