Oramed Announces Xiaoming Gao Joins Board of Directors
NEW YORK, July 2, 2019 /PRNewswire/ --Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) (TASE: ORMP), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, announced that Mr. Xiaoming Gao is joining its board of directors.
Mr. Gao is the Chairman of Hefei Tianhui Incubator of Technologies Co. Ltd. ("HTIT"), which signed a strategic licensing partnership with Oramed in November 2015 to bring oral insulin to China. HTIT received an IND from the Chinese regulatory authorities to initiate oral insulin clinical trials in China. Mr. Xiaoming Gao has more than 30 years of experience in the insulin industry and launched Novo Nordisk insulin to most of China and then was in charge of its distribution for the following 11 years.
In 2005, Mr. Gao invested and established Hefei Life Science and Technology Park Investment and Development Co., LTD., and led the existing team to successfully complete the registration of imported Insulin-SciLin in China from 2005 to 2009, and obtained the Imported Drug License. This product was transferred to Bayer for sale and promotion at the end of 2009. In 2007, he founded Hefei Tianmai Biotechnology development Co., Ltd. ("HTBT") and started recombinant human insulin and insulin analogs' R&D manufacturing for the Greater China region, which is commercially available under the National Medical Product Administration (NMPA) in China.
Oramed CEO Nadav Kidron said, "As we move forward with the oral insulin facilities and clinical trials in China, we welcome Mr. Gao and the vast experience he brings to Oramed. We are looking forward to furthering the collaboration between Mr. Gao's companies and Oramed."
Oramed also announced that Ms. Xiaopeng Li, CFO of HTIT, has resigned from the board.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a platform technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection. Established in 2006, with offices in New York and Israel, Oramed has developed a novel Protein Oral Delivery (PODTM) technology that is based on more than 30 years of research by scientists at Jerusalem's Hadassah Medical Center. Oramed is seeking to revolutionize the treatment of diabetes through its proprietary lead candidate, ORMD-0801, which has the potential to be the first commercial oral insulin capsule for the treatment of Type 2 and Type 1 diabetes. The Company has completed multiple Phase II clinical trials under an Investigational New Drug application with the U.S. Food and Drug Administration. In addition, Oramed is developing an oral GLP-1 (Glucagon-like peptide-1) analog capsule, ORMD-0901, which has potential to be the first orally-ingestible GLP-1 analog.
For more information, the content of which is not part of this press release, please visit www.oramed.com
Forward-looking statements: This press release contains forward-looking statements. For example, we are using forward-looking statements when we discuss furthering collaboration with Mr. Gao's companies, expected clinical development programs and clinical trials or revolutionizing the treatment of diabetes with our products. These forward-looking statements are based on the current expectations of the management of Oramed only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the 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 or patent protection for our product candidates; competition from other pharmaceutical or biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; laboratory results that do not translate to equally good results in real settings; our patents may not be sufficient; and finally that products may harm recipients, all of which could cause the actual results or performance of Oramed to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Oramed undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Oramed, reference is made to Oramed's reports filed from time to time with the Securities and Exchange Commission.
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SOURCE Oramed Pharmaceuticals Inc.