Oramed Granted its 3rd Patent in Australia for Oral Administration of
JERUSALEM, March 11, 2014
JERUSALEM, March 11, 2014 /PRNewswire/ --Oramed Pharmaceuticals Inc.
(NASDAQCM: ORMP) (www.oramed.com), a clinical-stage pharmaceutical company
focused on the development of oral drug delivery systems, announced today that
IP Australia, the Australian government'spatent office, has issued the
Company its third patent in the country. The patent, titled "Methods and
Compositions for Oral Administration of Exenatide," covers oral exenatide
compositions made using the company's proprietary technology, including its
ORMD-0901 oral exenatide capsule.
Oramed has planned a comprehensive clinical program for ORMD-0901, with the
goal of seeking approval in the U.S. and other territories. IND-enabling
toxicity studies are scheduled to begin later this year in the U.S. and a
Phase 1b study outside of the U.S. is also planned for 2014.
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 GLP-1 analog capsule
(ORMD-0901). 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 www.oramed.com
Forward-looking statements: This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. Words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "estimates" and
similar expressions or variations of such words are intended to identify
forward-looking statements. For example, we are using forward-looking
statements when we discuss our clinical trials, including the expected timing
thereof, and revolutionizing the treatment of diabetes with our products.
These forward-looking statements 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.
Oramed Pharmaceuticals LifeSci Advisors, LLC
Aviva Guiloff Michael Rice
Office: +972-2-566-0001 ext. 2 646-597-6979
US: 1-718-831-2512 ext. 2 firstname.lastname@example.org
SOURCE Oramed Pharmaceuticals Inc.
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