NEW YORK, July 2, 2019 /PRNewswire/ --Oramed
Pharmaceuticals Inc. (NASDAQ: ORMP) (TASE: ORMP), a
clinical-stage pharmaceutical company focused on the development of
oral drug delivery systems, announced that Mr. Xiaoming Gao is joining its board of
directors.
Mr. Gao is the Chairman of Hefei Tianhui Incubator of
Technologies Co. Ltd. ("HTIT"), which signed a strategic licensing
partnership with Oramed in November
2015 to bring oral insulin to China. HTIT received an IND from the Chinese
regulatory authorities to initiate oral insulin clinical trials in
China. Mr. Xiaoming Gao has
more than 30 years of experience in the insulin industry and
launched Novo Nordisk insulin to most of China and then was in charge of its
distribution for the following 11 years.
In 2005, Mr. Gao invested and established Hefei Life Science and
Technology Park Investment and Development Co., LTD., and led the
existing team to successfully complete the registration of imported
Insulin-SciLin in China from 2005
to 2009, and obtained the Imported Drug License. This product was
transferred to Bayer for sale and promotion at the end of
2009. In 2007, he founded Hefei Tianmai Biotechnology
development Co., Ltd. ("HTBT") and started recombinant human
insulin and insulin analogs' R&D manufacturing for the
Greater China region, which is
commercially available under the National Medical Product
Administration (NMPA) in China.
Oramed CEO Nadav Kidron said, "As
we move forward with the oral insulin facilities and clinical
trials in China, we welcome Mr.
Gao and the vast experience he brings to Oramed. We are looking
forward to furthering the collaboration between Mr. Gao's companies
and Oramed."
Oramed also announced that Ms. Xiaopeng
Li, CFO of HTIT, has resigned from the board.
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, with offices in New York
and Israel, Oramed has developed a
novel Protein Oral Delivery (PODTM) technology that is
based on more than 30 years of research by scientists at
Jerusalem's Hadassah Medical
Center. Oramed is seeking to revolutionize the treatment of
diabetes through its proprietary lead candidate, ORMD-0801,
which has the potential to be the first commercial oral
insulin capsule for the treatment of Type 2 and Type 1
diabetes. The Company has 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 (Glucagon-like peptide-1) analog
capsule, ORMD-0901, which has potential to be the first
orally-ingestible GLP-1 analog.
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. For example, we are using
forward-looking statements when we discuss furthering collaboration
with Mr. Gao's companies, expected clinical development programs
and clinical trials or 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: +1-877-9-ORAMED
Email: estee@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.