JERUSALEM, September 10, 2013 /PRNewswire/ --
Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP) (http://www.oramed.com), a developer of oral drug delivery systems, announced today that it has received approval for a key patent from the State Intellectual Property Office of the People's Republic of China.
The patent, titled "Methods and Compositions for Oral Administrations of Proteins," covers a core concept of the Company's technology. The patent has also been granted in New Zealand and South Africa. Oramed's portfolio now consists of eight issued patents and 27 patents pending.
According to a report by McKinsey & Company China's healthcare sector is growing at an accelerated rate, with healthcare spending projected to grow from $357 billion in 2011 to $1 trillion by 2020.
"Our platform technology in the oral delivery of proteins applies to numerous treatment markets in geographies around the globe. China is a very important market for both our ORMD-0801 and ORMD-0901 technologies, " stated Oramed CEO Nadav Kidron. "As an innovative company committed to discovery, we are pleased to see our IP portfolio expand."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines currently delivered via injection. Established in 2006, Oramed's technology is based on over 30 years of research by top research 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) currently initiating Phase 2 clinical trials on patients with type 2 diabetes (T2DM) under an Investigational New Drug application with the U.S. Food and Drug Administration, and with its oral exenatide capsule (ORMD-0901; a GLP-1 analog), with trials on healthy volunteers (Phase 1b) and T2DM patients (Phase 2a) underway. Oramed is also moving forward with clinical trials of ORMD-0801 for the treatment of type 1 diabetes. The company's corporate and R&D headquarters are based in Jerusalem.
For more information, the content of which is not part of this press release, please visit http://www.oramed.com.
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