JERUSALEM, Nov. 19, 2013 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. (NASDAQCM: ORMP) (www.oramed.com), a developer
of oral drug delivery systems, announced today that the European
Patent Office has allowed the Company's patent for its invention,
titled "Methods and Compositions for Oral Administrations of
Proteins."
Europe is one of the world's
largest healthcare markets with an estimated $322 billion market value in 2012, accounting for
over one quarter of the world pharmaceutical market, according to a
report by the European Federation of Pharmaceutical Industries and
Associations. According to Frost & Sullivan the European
diabetes market accounted for $8.6
billion in revenues in 2010 and is estimated to grow to
$14 billion by 2017, driven by new
classes of drugs to treat the disease.
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 Protein Oral Delivery
(POD™) 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 in 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 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
Tel US: 1-718-831-2512
Mobile: +972-54-792-4438
Email: aviva@oramed.com
SOURCE Oramed Pharmaceuticals Inc.