Current Report Filing (8-k)
July 27 2016 - 10:15AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported): July 24, 2016
ORAMED
PHARMACEUTICALS INC.
(Exact
name of registrant as specified in its charter)
DELAWARE
|
|
001-35813
|
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98-0376008
|
(State
or Other Jurisdiction
|
|
(Commission
|
|
(IRS
Employer
|
of
Incorporation)
|
|
File
Number)
|
|
Identification
No.)
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Hi-Tech Park 2/4 Givat Ram,
PO Box 39098, Jerusalem, Israel
|
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91390
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(Address
of Principal Executive Offices)
|
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(Zip
Code)
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+972-2-566-0001
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
1.01.
|
Entry
into a Material Definitive Agreement.
|
On
July 24, 2016 (the "Effective Date"), Oramed Ltd. (the "Subsidiary"), a wholly-owned subsidiary of Oramed
Pharmaceuticals Inc. (the "Company"), entered into a General Technical Agreement (“Agreement”) with Premas
Biotech Pvt. Ltd ("Premas") for the scale-up process development and production of one of its oral capsule ingredients.
In addition, this agreement is required under the Amended and Restated Technology License Agreement between the Subsidiary, the
Company and Hefei Tianhui Incubator of Technologies Co. Ltd. (“HTIT”), dated December 21, 2015, as previously disclosed
in the Company’s Current Report on Form 8-K, filed on December 28, 2015. According to the Agreement, Premas will develop
production processes and provide services to HTIT regarding certain parts of the manufacturing of the product known as ORMD-0801
in the People’s Republic of China, Macau and Hong Kong.
The
Agreement commenced on the Effective Date and, unless terminated earlier, will remain in effect until the successful completion
of the services as contemplated in the Agreement.
As
consideration for its services, the Subsidiary will pay Premas an aggregate amount of up to $4.3 million that will be paid over
the term of the engagement and based on the achievement of certain development milestones.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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ORAMED
PHARMACEUTICALS INC.
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|
|
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By:
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/s/
Nadav Kidron
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Name:
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Nadav
Kidron
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July
27, 2016
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Title:
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President
and CEO
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3
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