JERUSALEM & WAYNE, Pa.--(BUSINESS WIRE)--Oramed Pharmaceuticals, Inc.(OTC BB:ORMP), an Israeli company focused on the development of oral delivery solutions based on proprietary technology and Encorium Group, Inc. (Nasdaq: ENCO), an international full service contract research organization (CRO) that provides comprehensive clinical and drug development solutions for pharmaceutical, biotechnology and medical device companies today announced an agreement that is intended to expedite the development of Oramed’s lead product for treatment of diabetes mellitus. Encorium Group has extensive worldwide experience in the drug/biologics development process for a multitude of agents and disease conditions and specifically in diabetes, including preclinical to post-marketing support studies. This agreement engages Encorium Group to assist Oramed in the design, implementation, advancement, and oversight of a sound scientific and regulatory strategic plan for the filing and ultimate approval of Oramed’s oral insulin product on a worldwide basis. The initial focus of this combined effort between Oramed and Encorium Group is to assemble the information required for the opening of an investigational new drug application (IND) and its subsequent filing with the FDA.
