Oramed Granted Patent in China for its Platform Technology in Oral Delivery of
JERUSALEM, September 10, 2013
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.
SOURCE Oramed Pharmaceuticals Inc.
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