OBJ wants to get under your skin with personalisation wand
Health & Biotech
Health & Biotech
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Cosmetics that really get under your skin – that’s the promise from magnetically enhanced cosmetic skincare company OBJ.
Perth-based OBJ (ASX:OBJ) has created a “magnetic-enhanced drug delivery system” it calls dermaportation.
Director Glyn Denison told Stockhead the technology allowed personalised skincare using a device fitted with a battery and microprocessor.
“In very basic terns, you can adapt the same product for use on different skin types and different weather conditions,” he said.
“Irrespective of whether you are Caucasian, African or Asian, whether it is zero degrees or 30 degrees the technology changes depending on how the cosmetic can be absorbed.”
The $73 million company already licenses its wand technology to P&G, for use in four Olay and SK-II products, to help the cosmetic penetrate the skin using magnetism.
OBJ shares closed at 4.1c on Thursday, near the bottom of their 52-week range.
The most popular markets for OBJ’s initial technology have been Japan, South Korea and China, but introduction to the North American is planned before year’s end.
Mr Denison said the company’s microarray technology could be added to existing products, allowing them to react when a wand is rubbed over the skin.
“The problem with a lot of cosmetics is that they just sit on top of the skin and wash off – our technology allows for transdermal delivery that penetrates upper levels of skin to have a more lasting effect,” he said.
“The wand comes in various shapes and sizes depending on the area of application.”
OBJ had $5.3 million in the bank at the end of the financial year, with $1.5 million in sales and $35,000 in royalties.