JERUSALEM, October 23 Oramed Pharmaceuticals,Inc. (OTCBB: ORMP.OB) (http://www.oramed.com), a developer of alternativedrug delivery systems, announced today that it has received approval from theSouth Africa Medicines Control Council (MCC) to begin conducting Phase 1Atrials on eight healthy human volunteers for ORMD 0802, the company's newlydeveloped insulin suppository.
Oramed's Phase 1A trials on its insulin suppository mark an importantstep in the history of insulin delivery as it will provide a painless optionfor diabetics who seek an alternative to current delivery methods. An insulinsuppository is especially important for small children and seniors, who oftenstruggle with injections.
"The Phase 1A trial of our insulin suppository is a natural expansion ofOramed's pursuit and development of alternative insulin delivery systems,"said Oramed's CEO, Nadav Kidron. "By creating an insulin suppository, Oramedhopes to ensure that diabetics will be able to receive insulin in the formwhich is most suitable to their lifestyle and/or age."
This Phase 1A trial follows Oramed's announcement of its successful Phase2A clinical trials on its oral insulin capsule, ORMD 0801, which demonstratedthat the product has a strong safety profile and was well tolerated, as wellas being effective in lowering blood glucose levels, in patients with type 2diabetes.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of oraldelivery solutions for drugs and vaccines presently delivered via injection.Oramed is seeking to revolutionize the treatment of diabetes through itspatented flagship product, an orally ingestible insulin capsule currently inphase 2 clinical trials. Established in 2006, Oramed's technology is based onover 25 years of research by top research scientists at Jerusalem's HadassahMedical Center. The Company's corporate and R&D headquarters are based inJerusalem.
For more information, please visit http://www.oramed.com
Some of the statements contained in this press release areforward-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 bematerially different from any future results, performance or achievementsexpressed or implied by such forward looking statements, including the risksand uncertainties related to the progress, timing, cost, and results ofclinical trials and product development programs; difficulties or delays inobtaining regulatory approval for our product candidates; competition fromother pharmaceutical or biotechnology companies; and the company's ability toobtain additional funding required to conduct its research, development andcommercialization activities. Please refer to the company's filings with theSecurities and Exchange Commission for a comprehensive list of risk factorsthat could cause actual results, performance or achievements of the companyto differ materially from those expressed or implied in such forward lookingstatements. The company undertakes no obligation to update or revise anyforward-looking statements.Company and Investor Relation Contacts: Oramed Pharmaceuticals Eric Rosenberg Cell: +972-54-566-7713 Office: +972-2-566-0001 Email: firstname.lastname@example.org Media Contacts: Ruder Finn Israel for Oramed Matthew Krieger Cell: +972-54-467-6950 Office: +972-2-589-2003 Email: email@example.com
SOURCE Oramed Pharmaceuticals Inc.