Oramed Announces Completion of Pivotal Phase 2b Clinical Trials of it's Oral Insulin Capsule, ORMD-0801 for Type 2 Diabetes

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Mar 25, 2010, 01:10 ET

JERUSALEM, Israel, March 25, 2010 /PRNewswire-FirstCall/ -- Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) announced today the completion of its' pivotal Phase 2b clinical study of its oral insulin capsule, ORMD-0801. The Company expects to report results from this study within the coming weeks.

The Phase 2b trial is a randomized, double-blind, placebo-controlled, multi-centered study, that primary evaluated the safety, and tolerability of Oramed's oral insulin delivery technology. The study took place in five locations throughout South Africa and was monitored by OnQ Consulting, a clinical research organization (CRO) based in Johannesburg, South Africa.

"The completion of the Phase 2b clinical trial for ORMD-0801 is a significant milestone for Oramed," said Nadav Kidron, Chief Executive Officer of the Company, who continued, "We are especially thankful for the dedication of all the investigators who participated in the study."

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 performed 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
    Tara Horn
    Office: 646-240-4193
    Cell: +972-54-334-318
    Email: [email protected]

SOURCE Oramed Pharmaceuticals Inc.