JERUSALEM, Nov. 29, 2016 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. (NASDAQ: ORMP) (www.oramed.com), a developer
of oral drug delivery systems, today announced it successfully
concluded a Phase Ib study of ORMD-0901, the Company's proprietary
oral GLP-1 analog. The Phase Ib study on type 2 diabetic patients
showed ORMD-0901 to be safe and well tolerated, having no serious
adverse events, adverse events or abnormal laboratory findings
during the study. In addition, the active oral GLP-1 arms of
the study showed encouraging trending efficacy.
"We are very pleased with both the safety and efficacy results
observed during this study. Currently we are preparing to submit an
IND with the FDA and anticipate initiating a Phase IIb study in
2017," said Oramed CEO Nadav
Kidron.
About ORMD-0901 – Oral GLP-1
Glucagon-like peptide-1 (GLP-1) is an incretin hormone that
stimulates the secretion of insulin from the pancreas. Exenatide, a
GLP-1 analog, is currently marketed in injectable form only, and is
indicated for treatment of type 2 diabetes. Exenatide induces
insulin release at increased glucose levels and causes a feeling of
satiety, which results in reduced food intake and weight loss.
Oramed's oral GLP-1 analog capsule based on the company's
PODTM technology could significantly increase compliance
and become a valuable tool in the treatment of diabetes.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a platform technology pioneer in the
field of oral delivery solutions for drugs currently delivered via
injection. Established in 2006, Oramed's Protein Oral Delivery
(PODTM) technology is based on over 30 years of research
by 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 of ORMD-0801 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 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 the preparation for and
timing of our Phase IIb study, or when we discuss increasing
compliance 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 finally 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.
Company Contact:
Oramed Pharmaceuticals
Estee Yaari
Office: +972-2-566-0001
US: +1-718-831-2512
Email: estee@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.