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August 01, 2015 10:18 PM ET

Pharmaceuticals

Company Overview of Oramed Pharmaceuticals Inc.

Company Overview

Oramed Pharmaceuticals Inc. engages in the research and development of pharmaceutical solutions for the use of orally ingestible capsules or pills for delivery of polypeptides. Its product portfolio includes ORMD-0801, an oral insulin capsule that completed Phase IIa clinical trials for the treatment of diabetes; and ORMD-0901, an analog for GLP-1 gastrointestinal hormone, which is in pre-clinical trials for the treatment of type 2 diabetes. The company was formerly known as Integrated Security Technologies, Inc. and changed its name to Oramed Pharmaceuticals Inc. in April 2006. Oramed Pharmaceuticals Inc. was founded in 2002 and is based in Jerusalem, Israel.

Hi-Tech Park 2/4

Givat-Ram

PO Box 39098

Jerusalem,  91390

Israel

Founded in 2002

Phone:

972 2 566 0001

Fax:

972 2 566 0004

Key Executives for Oramed Pharmaceuticals Inc.

Chief Executive Officer, President and Executive Director
Age: 41
Total Annual Compensation: $381.3K
Chief Financial Officer, Treasurer and Secretary
Age: 41
Total Annual Compensation: $193.8K
Chief Operating Officer and Vice President of Business Development
Age: 45
Total Annual Compensation: $199.2K
Chief Scientific Officer and Director
Age: 75
Total Annual Compensation: $271.3K
Compensation as of Fiscal Year 2014.

Oramed Pharmaceuticals Inc. Key Developments

Oramed Pharmaceuticals Agrees to Investment and License Agreement in China with Sinopharm Capital Management Co. Ltd. and Hefei Life Science & Technology Park Investments and Development Co., Ltd

Oramed Pharmaceuticals announced that it agreed to an investment and license agreement in China with Sinopharm Capital Management Co. Ltd. and Hefei Life Science & Technology Park Investments and Development Co. Ltd. for $50 million plus royalty payments. Under the terms of the agreement, Sinopharm and Hefei will acquire a 10% stake in Oramed Pharma for $12 million and exclusive rights for oral insulin capsule ORMD-0801 for $38 million. Of the $38 million, $18 million will be paid once the license agreement is signed and the remaining $20 million will be paid once results are released for Oramed's ongoing Phase IIb trial in the U.S. Sinopharm and Hefei will also pay a 10% royalty on sales.

Oramed Pharmaceuticals Inc. Enrolls First Patient in its Phase IIb Oral Insulin Study

Oramed Pharmaceuticals Inc. announced that the first patient has been screened in the company's phase IIb trial of its oral insulin capsule, ORMD-0801. This U.S. based study will be performed under the active Investigational New Drug (IND) application on file with the U.S. Food and Drug Administration (FDA). The phase IIb study for type 2 diabetes is designed to generate ample data for both safety and efficacy endpoints. The double-blind, randomized study will recruit approximately 180 patients. ORMD-0801 has the potential to create a new paradigm in the treatment of diabetes by oral delivery of insulin at an earlier stage of treatment, potentially slowing disease progression and delaying or even eliminating late-stage complications. Orally administered insulin is expected to bring result in enhanced patient compliance. In addition, intestinally absorbed-oral insulin actually mimics insulin's natural location and gradients in the body by first passing through the liver before entering the bloodstream.

Oramed Pharmaceuticals Inc. Submits Protocol to U.S. FDA for its Phase IIb Oral Insulin Study

Oramed Pharmaceuticals Inc. announced that it has submitted the study protocol for the company's Phase IIb trial of ORMD-0801, its oral insulin capsule, to the U.S. Food and Drug Administration (FDA). The submission was made under the company's existing Investigational New Drug (IND) application. The Phase IIb study of ORMD-0801 for type 2 diabetics is designed to generate ample data for both efficacy and safety endpoints. The double-blind, randomized study will recruit approximately 180 patients and has a 28-day treatment period. The study has already received Institutional Review Board (IRB) approval and patient enrollment is expected to start in the short term.

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