Oramed Pharmaceuticals Inc (ORMP)

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Additional payments received

JERUSALEM, PRNewswire/ —

Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) (http://www.oramed.com), a developer of oral drug delivery systems, today announced it has received an additional milestone payment of $4 million from Hefei Tianhui Incubator of Technologies Co. Ltd. (HTIT). This milestone is part of a previously-announced license and investment agreement between Oramed and HTIT, and follows recent milestone payments of $4 million and $6.5 million.

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 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).