Oramed 制药及单位与合肥天汇生物科技有限公司达成合资协议
Oramed Pharmaceuticals and its unit have entered into a joint venture agreement with Hefei Tianhui Biotech and Technowl Limited. The joint venture aims to initiate a Phase 3 oral insulin trial in the US using Oramed's oral drug delivery technology. Hefei Tianhui Biotech will contribute $70 million in cash to the joint venture, while Oramed will contribute $20 million. The joint venture will focus on developing products based on Oramed's oral insulin and POD™ pipeline.
Jan 23 (Reuters) - Oramed Pharmaceuticals Inc (ORMP.O) :
ORAMED PHARMACEUTICALS INC: ON JAN 22, CO AND UNIT ENTERED INTO JOINT VENTURE AGREEMENT WITH HEFEI TIANHUI BIOTECH AND TECHNOWL LIMITED
ORAMED PHARMACEUTICALS INC - ORAMED AND HTIT WILL INITIALLY HOLD EQUAL SHARES IN JV, WITH EACH OWNING 50% OF EQUITY
ORAMED PHARMACEUTICALS: PARTIES INTEND FOR JV TO INITIATE PHASE 3 ORAL INSULIN TRIAL IN THE U.S.
ORAMED PHARMACEUTICALS INC - UNDER JV AGREEMENT, PARTIES WILL ESTABLISH A JOINT VENTURE BASED ON ORAMED’S ORAL DRUG DELIVERY TECHNOLOGY
ORAMED PHARMACEUTICALS INC - ORAMED WILL BE ENTITLED TO RECEIVE A 3% ROYALTY ON GROSS REVENUES OF JV GENERATED FROM ORAMED RELATED ASSETS
ORAMED PHARMACEUTICALS INC - UNDER JV, BOARD OF DIRECTORS WILL INITIALLY CONSIST OF EQUAL REPRESENTATION FROM HTIT AND ORAMED
ORAMED PHARMACEUTICALS INC: HTIT WILL CONTRIBUTE TO JV $70 MILLION IN CASH, WHILE ORAMED WILL CONTRIBUTE $20 MILLION
ORAMED PHARMACEUTICALS- HTIT TO HAVE OPTION TO INVEST EXTRA FUNDS INTO JV UP TO $20 MILLION, THEREBY INCREASING EQUITY HOLDINGS & BOARD REPRESENTATION
ORAMED PHARMACEUTICALS: UNDER JV, CO TO TRANSFER INTELLECTUAL PROPERTY RELATED TO ITS ORAL INSULIN & POD TECHNOLOGY, AND OTHER ASSETS IN CO’S PIPELINE
ORAMED PHARMACEUTICALS- JV TO FOCUS ON DEVELOPMENT OF PRODUCTS BASED ON CO’S ORAL INSULIN AND POD™ PIPELINE & HTIT’S MANUFACTURING CAPABILITIES
