Date: 2013-05-30
Type of information: Grant
Company: Oramed Pharmaceutical (Israel)
Investors:
Amount: NIS 975,000 (approximately US$265,000 or € 203,000)
Funding type: grant
Planned used: The funds will be designated and used by Oramed Ltd. to support further R&D and clinical studies on its oral insulin capsule (ORMD-0801) and oral exenatide capsule (ORMD-0901) from January 2013 to December 2013.
Others: * On May 30, 2013, Oramed Pharmaceuticals has announced that its wholly owned Israeli subsidiary, Oramed, was awarded a government grant from the Office of the Chief Scientist(\"OCS\") at the Ministry of Industry, Trade and Labor of Israel. This grant will be used to support further R&D and clinical studies on its oral insulin capsule (ORMD-0801) and oral exenatide capsule (ORMD-0901) as Oramed initiates Phase 2 clinical trials in the US on its oral insulin candidate.
Oramed Ltd. is required to pay royalties in the rate of 3% - 5% on sales of products and services derived from the technology developed using this and other OCS grants until the full dollar amount of the grants are repaid, plus interest. In the absence of such sales, no payment is required.
Therapeutic area: Metabolic diseases
