JERUSALEM, Israel, July 7, 2010 /PRNewswire-FirstCall/ -- Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) (http://www.oramed.com),a developer of oral delivery systems, today announced that Oramed entered into a Manufacturing Supply Agreement (MSA) with sanofi-aventis. According to the MSA, sanofi-aventis will supply Oramed with specified quantities of recombinant human insulin
The MSA is managed by the Commercial and External Partnership within Industrial Affairs (CEPiA) at sanofi-aventis, which will allow Oramed to leverage sanofi-aventis' ability and expertise regarding quality and regulatory support.
"Oramed's oral delivery technology together with sanofi-aventis capabilities to produce insulin on a large scale supports Oramed's efforts to conduct clinical development of Oramed's oral insulin capsule in the growing diabetes market in the US.", says Nadav Kidron, Oramed's CEO. "It is very satisfying to work with such a professional company and their dedicated staff."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule currently in phase 2 clinical trials. Established in 2006, Oramed's technology is based on over 25 years of research by top research scientists at Jerusalem's Hadassah Medical Center. The Company's corporate and R&D headquarters are based in Jerusalem.
For more information, please visit http://www.oramed.com.
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 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; and the company's ability to obtain additional funding required to conduct its research, development and commercialization activities. 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 Inc. Tara Horn Office: +1-646-240-4193 Cell: +972-54-334-4318 Email: firstname.lastname@example.org
SOURCE Oramed Pharmaceuticals Inc.
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