JERUSALEM, September 10, 2013 /PRNewswire/ --
Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP)
(http://www.oramed.com), a developer of oral drug delivery systems,
announced today that it has received approval for a key patent from
the State Intellectual Property Office of the People's Republic of China.
The patent, titled "Methods and Compositions for Oral
Administrations of Proteins," covers a core concept of the
Company's technology. The patent has also been granted in
New Zealand and South Africa. Oramed's portfolio now consists
of eight issued patents and 27 patents pending.
According to a report by McKinsey & Company China's healthcare sector is growing at an
accelerated rate, with healthcare spending projected to grow from
$357 billion in 2011 to $1 trillion by 2020.
"Our platform technology in the oral delivery of proteins
applies to numerous treatment markets in geographies around the
globe. China is a very important
market for both our ORMD-0801 and ORMD-0901 technologies," stated
Oramed CEO Nadav Kidron. "As an
innovative company committed to discovery, we are pleased to see
our IP portfolio expand."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of
oral delivery solutions for drugs and vaccines currently delivered
via injection. Established in 2006, Oramed's technology is based on
over 30 years of research by top research scientists at
Jerusalem's Hadassah Medical
Center. Oramed is seeking to revolutionize the treatment of
diabetes through its proprietary flagship product, an orally
ingestible insulin capsule (ORMD-0801) currently initiating Phase 2
clinical trials on patients with type 2 diabetes (T2DM) under an
Investigational New Drug application with the U.S. Food and Drug
Administration, and with its oral exenatide capsule (ORMD-0901; a
GLP-1 analog), with trials on healthy volunteers (Phase 1b) and
T2DM patients (Phase 2a) underway. Oramed is also moving forward
with clinical trials of ORMD-0801 for the treatment of type 1
diabetes. The company's corporate and R&D headquarters are
based in Jerusalem.
For more information, the content of which is not part of this
press release, please visit http://www.oramed.com.
Forward-looking statements: This press release contains
forward-looking statements. For example, we are using
forward-looking statements when we discuss our clinical trials, the
China market, or revolutionizing
the treatment of diabetes with our products. These forward-looking
statements and their implications are based on the current
expectations of the management of Oramed only, and are subject to a
number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements, including the risks and uncertainties related to the
progress, timing, cost, and results of clinical trials and product
development programs; difficulties or delays in obtaining
regulatory approval or patent protection for our product
candidates; competition from other pharmaceutical or biotechnology
companies; and our ability to obtain additional funding required to
conduct our research, development and commercialization activities.
In addition, the following factors, among others, could cause
actual results to differ materially from those described in the
forward-looking statements: changes in technology and market
requirements; delays or obstacles in launching our clinical trials;
changes in legislation; inability to timely develop and introduce
new technologies, products and applications; lack of validation of
our technology as we progress further and lack of acceptance of our
methods by the scientific community; inability to retain or attract
key employees whose knowledge is essential to the development of
our products; unforeseen scientific difficulties that may develop
with our process; greater cost of final product than anticipated;
loss of market share and pressure on pricing resulting from
competition; laboratory results that do not translate to equally
good results in real settings; our patents may not be sufficient;
and final that products may harm recipients, all of which could
cause the actual results or performance of Oramed to differ
materially from those contemplated in such forward-looking
statements. Except as otherwise required by law, Oramed undertakes
no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. For a more detailed description of the risks and
uncertainties affecting Oramed, reference is made to Oramed's
reports filed from time to time with the Securities and Exchange
Commission.
Company Contact:
Oramed Pharmaceuticals
Aviva Sherman
Office: +972-2-566-0001
Mobile: +972-54-792-4438
Email: aviva@oramed.com
SOURCE Oramed Pharmaceuticals Inc.