Navigation Links
Oramed Pharmaceuticals Forms Joint Venture - Launches Entera Bio Ltd.

JERUSALEM, June 2, 2010 /PRNewswire-FirstCall/ -- Oramed Pharmaceuticals Inc. (OTCBB: ORMP), a developer of oral drug delivery systems, announced today that its subsidiary Oramed Ltd. entered into a joint venture agreement with Laser Detect Systems Ltd. ("Laser Detect"), an Israeli company listed on the Tel Aviv Stock Exchange, for the establishment of a new company to be called Entera Bio Ltd. ("Entera"). Under the terms of the agreement, Oramed will out-license technology to Entera for the development of oral delivery drugs for certain indications. The out-licensed technology differs from Oramed's main delivery technology that is used for oral insulin and is subject to a different patent application. Entera's initial development effort will be an oral formulation for the treatment of osteoporosis.

Dr. Phillip Schwartz will serve as Entera's Chief Executive Officer. Dr. Schwartz has over 10 years of experience in the pharmaceutical and biotech industries and served as a lecturer at Harvard Medical School. Prior to joining Entera, Dr. Schwartz served as the Scientific and Medical Development Manager for Endo Pharmaceuticals (NasdaqGS: ENDP).

Nadav Kidron, Chief Executive Officer of Oramed Pharmaceuticals, commented, "This joint venture affords an opportunity to explore a technology with different characteristics from Oramed's main technology, which has the potential to make a significant contribution in the oral drug delivery arena. We look forward to a successful relationship with Laser Detect and Entera."

According to the agreement, Laser Detect will invest $600,000 in Entera, and Entera will be owned in equal parts by Oramed and Laser Detect. Entera's Chief Executive Officer will be granted options to purchase ordinary shares of Entera, reflecting 9.9% of the Entera's share capital, immediately following the dilution by these options. Entera's board of directors will be comprised of four members - one director designated by each of Oramed and Laser Detect, Dr. Schwartz and Mr. Kenneth Abramowitz, co-founder and Managing General Partner of NGN Capital.

Mr. Zeev Bronfeld, who is one of Laser Detect's controlling shareholders, is also an affiliated shareholder of Oramed Pharmaceuticals Inc. Accordingly, the closing of the transaction is subject to the approval of Laser Detect's shareholders.

For more information about Oramed's clinical development programs, please visit

Safe Harbor Statement

Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements, including the risk that the transaction will not be approved by the shareholders of Laser Detect, 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 for our product candidates; competition from other pharmaceutical or biotechnology companies; Entera's ability to obtain additional funding required to conduct its research, development and commercialization activities; and Oramed's ability to maintain a significant equity stake in Entera. Please refer to the company's filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the company to differ materially from those expressed or implied in such forward looking statements. The company undertakes no obligation to update or revise any forward-looking statements.

    Company and Investor Relation Contacts:
    Oramed Pharmaceuticals
    Tara Horn
    Office: +1-646-240-4193
    Cell: +972-54-334-4318

SOURCE Oramed Pharmaceuticals Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Oramed Pharmaceuticals to Hold Conference Call on August 6 to Present Results of Phase 2A Oral Insulin Capsule Clinical Trials
2. Oramed Pharmaceuticals Announces Successful Phase 2A Clinical Trial of its Oral Insulin Capsule
3. Oramed Pharmaceuticals Chosen to Present Oral Insulin Trial Results at EASD Conference (September 7-11, Rome)
4. Oramed Pharmaceuticals Launches GLP1-Analog Program, Based on its Proprietary Drug Delivery Platform
5. Oramed Pharmaceuticals Commences Phase 2A Trials of its Oral Insulin Capsule on Type 1 Diabetics
6. /K I L L K I L L K I L L -- Oramed Pharmaceuticals Inc./
7. Oramed Pharmaceuticals Launches Phase 1A Trials of its Insulin Suppository
8. Oramed Pharmaceuticals Chosen to Present Results of GLP-1 Analog Enteral Administration Study at the Diabetes Technology Societys Eighth Annual Meeting (November 13-15, 2008; Bethesda, Maryland)
9. Oramed Pharmaceuticals Completes Proof of Concept Study of Insulin Suppository
10. Oramed Pharmaceuticals to Present Oral Insulin Phase 2A Trial Results at the Upcoming Annual Meeting of the ADA (June 5-9, New Orleans, LA)
11. Oramed Pharmaceuticals Announces Launch of Phase 2B Clinical Trials in South Africa of its Oral Insulin Capsule
Post Your Comments:
(Date:12/1/2015)... 1, 2015 --> ... Drugs Market by Type of Drug (Monoclonal Antibodies, Interferon-Alpha, Interleukins, ... and Pipeline Analysis - Global Forecast to 2020", published by ... USD 73,529.2 Million by 2020 from USD 40,281.6 Million in ... Browse 37 market data ...
(Date:12/1/2015)... BANGALORE, India and ... (NASDAQ, TASE: MYL) today announced that it expects to ... for developing country markets funded by international donors, TLE400 ... + Efavirenz 400 mg) for $99 per patient, per ... (CHAI) to develop TLE400. The significantly reduced price could ...
(Date:12/1/2015)... 1, 2015  AccuTEC Blades, a leader in ... logo and brand identity program. The new logo ... of bladed products where "the edge makes all ... --> Serving manufacturers and distributors of medical, ... equipment, AccuTEC,s product lines include those acquired when ...
Breaking Medicine Technology:
(Date:12/1/2015)... ... , ... Integrated Rental Services (“Integrated Rental”), a growing medical ... , With support from JII, Integrated Rental is poised for expansion while improving ... research labs and medical facilities across the United States. , General Manager Robert ...
(Date:12/1/2015)... (PRWEB) , ... December 01, 2015 , ... Califia ... today announced that its iconic bottle has won top honors in Beverage World Magazine’s ... The Company also announced that it has been selected as a 2015 U.S.A. Taste ...
(Date:12/1/2015)... ... December 01, 2015 , ... ... we have seen vast improvements in scientific research and discoveries, leading us to ... increased hope and relief to those affected by HIV/AIDS. Mediaplanet’s cross-platform edition of ...
(Date:12/1/2015)... ... December 01, 2015 , ... The importance of ... is the focus of numerous abstracts accepted for presentation here, at the 101st ... Nine abstracts highlight the use of Volpara Solutions’ quantitative breast imaging software tools ...
(Date:12/1/2015)... ... December 01, 2015 , ... Next ... selected as a finalist in this year’s Fierce Innovation Awards: Healthcare Edition, an ... was recognized as a finalist in the category of Digital Solutions for its ...
Breaking Medicine News(10 mins):