Oramed Pharmaceuticals Receives Patent for the Oral Delivery of Insulin
Oramed Pharmaceuticals Inc. recently announced that the European Patent Office has allowed the company’s patent for its invention, titled Methods and Compositions for Oral Administrations of Proteins.
Europe is one of the world’s largest healthcare markets with an estimated $322-billion market value in 2012, accounting for over one quarter of the world pharmaceutical market, according to a report by the European Federation of Pharmaceutical Industries and Associations. According to Frost & Sullivan the European diabetes market accounted for $8.6 billion in revenues in 2010 and is estimated to grow to $14 billion by 2017, driven by new classes of drugs to treat the disease.
Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines currently delivered via injection. Established in 2006, Oramed’s Protein Oral Delivery (POD) technology is based on over 30 years of research by top research scientists at Jerusalem’s Hadassah Medical Center. Oramed is seeking to revolutionize the treatment of diabetes through its proprietary flagship product, an orally ingestible insulin capsule (ORMD-0801) currently in Phase II clinical trials on patients with type 2 diabetes (T2DM) under an Investigational New Drug application with the US Food and Drug Administration, and with its oral exenatide capsule (ORMD-0901; a GLP-1 analog), with trials on healthy volunteers (Phase Ib) and T2DM patients (Phase IIa) underway. Oramed is also moving forward with clinical trials of ORMD-0801 for the treatment of type 1 diabetes. The company’s corporate and R&D headquarters are based in Jerusalem. For more information, visit www.oramed.com.
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