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shareholder update

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    OBJ (ASX: OBJ) is pleased to provide shareholders with an update of activities with its
    potential partnering companies and marketing developments.
    3M C Material Transfer Agreement
    The Company announced a Material Transfer Agreement (MTA) with 3M in November
    2009 and a subsequent extension to the program in January 2010 to accommodate the
    broadening of the testing program. Following the completion of that initial phase, OBJ
    and 3M have agreed to extend the testing and to work closely with OBJs partners.
    3M has granted permission to the release of the following commentary.
    OBJ is pleased to announce that 3M has confirmed its interest in working with
    OBJs current or potential clients in patch development and/or contract
    manufacturing following testing performed by 3M Drug Delivery Systems
    laboratory in St Paul Minnesota.
    Glyn Denison, Director of OBJ commented, "With the number of partners that
    OBJ is working with worldwide, it is important that OBJ has the ability to provide
    professional development and manufacturing facilities to the highest possible
    standard. Continuing our relationship with 3M fulfils that need and allows OBJ to
    offer a full range of development and production programs to partner projects
    supported by 3M Drug Delivery Systems technology and production expertise".
    Under the existing Materials Transfer Agreement (MTA), 3M has studied the invitro
    performance of two transdermal patch formulations coupled with em\Patch
    micro\array formats, with some encouraging results. Pre\existing clinical
    program commitments at 3M Drug Delivery Systems facility will require the
    rescheduling of current testing. OBJ and 3M have agreed to a further 6 month
    extension of the MTA.
    OBJ and 3M will work closely in patch development and manufacturing services
    to OBJ partner companies and will further explore new opportunities in
    pharmaceutical, consumer and consumer healthcare fields.
    Expansion into New Markets
    OBJ has traditionally been a transdermal drug delivery company focusing on drug patch
    technologies for the pharmaceutical and therapeutic markets. While this remains a core
    area for the Company, recent technology innovations have allowed the Company to
    extend its partnering and product developments into the larger consumer and
    homecare markets. The Companys ability to enhance products in the consumer
    healthcare, oral health, skin care, hair care and homecare areas using its physical
    technologies rather than chemical, has given the Company access to global product
    opportunities with faster time to market and lesser regulatory barriers. The Companys
    technologies offer partners significant benefits in the personal and consumer care
    markets as standardized chemical libraries and strict environmental approval restrictions
    often make new chemical formulations cost prohibitive.
    ABN 72 056 482 636
    284 Oxford Street, Leederville 6007 Perth, Western Australia
    Telephone +61 8 9443 3011 Facsimile +61 8 9443 2859
    New Market Partnering Activities
    The Company is now actively engaged with a number of international companies across
    a variety of product sectors in the USA, Europe and UK. Partnering discussions, product
    evaluation and Proof of Concept studies are underway with leading international brandname
    corporations in the fields of non\prescription therapeutics, oral health, skin care,
    cosmetics and hair care.
    The continuing relationship with GSK and the recently announced Statement of Intent
    from a major multi\national FMCG company is indicative of the level of ongoing interest
    in the Companys technologies by major international corporations.
    Appointment of International Partnering Manager
    The recent appointment of Dr Kevin Hammond as International Partnering Manager
    reflects the Companys expanded activities in the personal and consumer care market.
    The ability of the Companys drug delivery technologies to meet the usability and cost
    requirements of both the therapeutic and consumer\care sectors has allowed the
    Company to provide the benefits of advanced drug delivery techniques, originally
    developed for pharmaceutical and therapeutic applications, to the broader personal,
    consumer and home care product markets.
    Dr. Hammond has over 30 years experience in the consumer healthcare and therapeutic
    market in senior positions at several major companies and is providing the Company
    with high level advice as the Company engages with an increasing number of potential
    partnering companies, most of which are based either in Europe or the U.S.A.
    For more information:
    Mr Glyn Denison Director P +618 9443 3011
    E [email protected]
    W www.obj.com.au
    About OBJ:
    OBJ Ltd is an early stage drug and cosmetic delivery company focused on the development and
    commercialization of transdermal and transmembrane patches and applicator technologies. OBJ
    develops low\cost, high\performance patch and applicator products and undertakes partner
    funded developments using the Company's platform of magnetic enhanced drug delivery
    technologies. OBJs business focus is the development of new products for supply or licensing
    and providing feasibility assessments, patch formulations, testing and intellectual property
    development services to partner companies.
    About OBJ's Technologies
    OBJ's proprietary drug delivery platform utilizes magnetic field and magnetic micro\array
    processes to enhance the delivery of therapeutic and beneficial compounds through the skin,
    tooth, hair and other biological barriers. OBJ's technologies have been shown in multi\centred
    university studies and independent commercial evaluations to enhance transdermal drug
    delivery of a wide a wide range of commercially significant drugs and peptides used in the
    pharmaceutical, dermatology, cosmetic and consumer healthcare sectors.
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