New Standalone Company, OraTech Pharmaceuticals Inc., to
Focus on Oral Drug Delivery with Strategic Investment and Advanced
Manufacturing Capabilities
- Oramed shareholders to receive the right to a direct stake
in OraTech, expected to go public on Nasdaq.
- OraTech will have global marketing rights to Oramed's POD™
oral protein delivery technology.
- HTIT to invest $60 million,
Oramed to invest $15 million into
OraTech.
- HTIT to provide a supply agreement for oral insulin
capsules.
- New Phase 3 trial in the U.S. with a revised protocol
expected to begin this quarter.
- OraTech to advance registration of oral insulin in the U.S.
and other countries.
- OraTech to receive royalty payments from sales of oral
insulin in China, where a
Marketing Authorization Application has been submitted, and
commercialization preparations are underway by HTIT.
NEW
YORK, Feb. 11, 2025 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ("Oramed"), a
clinical-stage pharmaceutical company focused on the development of
oral drug delivery platforms, today announced that it has entered
into definitive agreements to spin off its Protein Oral Delivery
(POD™) technology into a newly formed joint venture, OraTech
Pharmaceuticals Inc. ("OraTech"), with Hefei Tianhui Biotech Co.,
Ltd. ("HTIT"). This transaction is designed to accelerate the
development and commercialization of Oramed's ORMD-0801 oral
insulin and other POD™-based innovative oral drug delivery
technologies, reinforcing Oramed's vision of revolutionizing
diabetes and chronic disease treatments.
As part of the transaction, Oramed will transfer its proprietary
oral insulin and POD™ technology, along with other pipeline assets,
into OraTech. The definitive agreements call for Oramed
shareholders to receive a majority of Oramed's equity interest in
the new entity, allowing them to directly participate in its future
success. Additionally, under the agreements, Oramed and HTIT will
contribute a combined $75 million in
capital, some of which will be allocated for services rendered via
a supply agreement. This financial backing will provide substantial
resources to drive development, commercialization, and clinical
advancement.
"We are excited to launch OraTech, a company that brings
together Oramed's technology and clinical development expertise
with HTIT's state-of-the-art manufacturing capabilities," said
Nadav Kidron, Chief Executive
Officer of Oramed. "OraTech will be singularly focused on bringing
oral insulin to market and unlocking the broader potential of oral
drug delivery for additional therapeutic targets. With strong
capital investment, an experienced leadership team, and world-class
manufacturing support from HTIT, the company is uniquely positioned
to advance its programs, including the planned reinitiation of a
pivotal Phase 3 clinical trial in the
United States."
OraTech will leverage HTIT's expertise in capsule production and
cost-efficient manufacturing, ensuring a robust, reliable, and
scalable supply chain to support clinical trials and
commercialization efforts.
With a clear focus on development and commercialization, strong
financial backing, and a pipeline poised for clinical and
regulatory advancements, OraTech is potentially set to redefine
diabetes care and transform the future of oral biologics and
chronic disease management.
Further details on Oramed's plans and initiatives will be
provided in a shareholder letter in the coming weeks.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals
(Nasdaq/TASE: ORMP) is a platform technology pioneer in the field
of oral delivery solutions for drugs currently delivered via
injection. The Company's novel Protein Oral Delivery (POD™)
technology is designed to protect drug integrity and increase
absorption. Oramed has offices in the
United States and Israel.
For more information, please visit www.oramed.com.
About HTIT
Hefei Tianhui Biotechnology Co., Ltd.
(HTIT) owns and operates a state-of-the-art manufacturing facility
in Hefei, China. HTIT is a
biotech company focused on biopharmaceutical product manufacturing
and R&D with an emphasis on the oral delivery of therapeutic
macromolecules.
Forward-looking statements: This press release
contains forward-looking statements, which may generally be
identified by the use of the words "anticipates," "expects,"
"intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "target," or "continue" and
variations or similar expressions and include statements that
OraTech is designed to accelerate the development and
commercialization of Oramed's ORMD-0801 oral insulin and other
POD™-based innovative oral drug delivery technologies,
Oramed's vision of revolutionizing diabetes and chronic disease
treatments, that Oramed will transfer its proprietary oral insulin
and POD™ technology, along with other pipeline assets, into
OraTech, that Oramed shareholders will receive a majority of
Oramed's holdings in OraTech, allowing them to directly participate
in its future success, that Oramed and HTIT will contribute a
combined $75 million in capital, the
focus of OraTech, planned reinitiation of a Phase 3 clinical trial
in the United States, and
OraTech's plan to redefine diabetes care and transform the future
of oral biologics and chronic disease management. These statements
are based upon the current expectations and beliefs of management
and are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include,
but are not limited to, uncertainties in satisfaction of closing
conditions for the contemplated transactions, risks and
uncertainties discussed in the Company's most recent annual and
quarterly reports and detailed from time to time in the Company's
other filings with the Securities and Exchange Commission, all of
which could cause the actual results or performance of Oramed
to differ materially from those contemplated in such
forward-looking statements. These forward-looking statements speak
only as of the date hereof. Oramed undertakes no obligation to
update any of these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect actual outcomes,
unless required by law.
Company Contact:
+1-844-9-ORAMED
ir@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.
