JERUSALEM, April 12, 2016 /PRNewswire/ --
Oramed Pharmaceuticals Inc. (NASDAQ: ORMP)
(http://www.oramed.com), a clinical-stage pharmaceutical company
focused on the development of oral drug delivery systems, announced
today that the U.S. Patent and Trademark Office (PTO) has issued a
Patent Term Adjustment (PTA) extending the patent term by 18 months
for its patent No. 9,259,456, titled, "Methods and Compositions for
Oral Administration of Proteins". Oramed had previously announced
receiving an allowance on the patent. The PTA increases the patent
term from the standard 20 years from the date of its earliest
non-provisional application to 21 years and 6 months, extending the
term through March 2, 2028. The
patent addresses Oramed's platform technology which underlies its
products, including ORMD-0801, an orally ingestible insulin
capsule.
"The U.S. diabetes market is the largest single diabetes market
worldwide," stated Oramed CEO Nadav
Kidron. "We are very pleased that the U.S. PTO has granted
an extension beyond the standard patent term, further enhancing the
value of our intellectual property in this market."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of
oral delivery solutions for drugs currently delivered via
injection. Established in 2006, Oramed's Protein Oral Delivery
(POD[TM]) technology is based on
over 30 years of research by top 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). The Company completed multiple Phase II clinical
trials under an Investigational New Drug application with the U.S.
Food and Drug Administration. In addition, Oramed is developing an
oral GLP-1 analog capsule (ORMD-0901).
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 future patent
protection, our clinical trials 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 SEC.
Company Contact
Oramed Pharmaceuticals
Ariella Vaystooch
Office: +972-2-566-0001 ext. 2
US: 1-718-831-2512 ext. 2
Email: ariella@oramed.com
SOURCE Oramed Pharmaceuticals Inc.