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Oramed and Hefei Tianhui to Form $60 Million JV for Oral Insulin Product

publication date: Aug 3, 2023

Oramed Pharma, a New York-Israel biopharma, signed a non-binding term sheet with Hefei Tianhui Biotech (HTBT) to form a joint venture that will commercialize Oramed's oral drug delivery products. HTBT will invest $60 million in the JV, while Oramed will add $10 million, with each company owning 50%. The focus of the new venture will be the global commercialization of innovative products based on Oramed's oral insulin and POD™ (Protein Oral Delivery) pipeline. HTBT will contribute its manufacturing capacity and experience. The JV is subject to signing a binding definitive agreement. More details....

Stock Symbol: (NSDQ: ORMP; TASE: ORMP)

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