UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): May 21, 2010
ORAMED
PHARMACEUTICALS INC.
(Exact
name of registrant as specified in its charter)
|
Nevada
(State
or other jurisdiction
of
incorporation)
|
000-50298
(Commission
File Number)
|
98-0376008
(IRS
Employer
Identification
No.)
|
Hi-Tech
Park 2/5 Givat Ram
PO
Box 39098
Jerusalem,
Israel 91390
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: 972-2-566-0001
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
ITEM
5.02(d)
|
ELECTION
OF DIRECTOR
|
On May
21, 2010, Oramed Pharmaceuticals Inc. (the "Company") appointed Dr. Michael
Berelowitz, MD, as a member of the Company's Board of Directors effective June
1, 2010.
Dr.
Berelowitz is currently Senior Vice President and Head of Clinical Development
and Medical Affairs in the Specialty Care Business Unit at Pfizer, Inc., the
world's largest research-based pharmaceutical company.
The
Company has not yet determined if Dr. Berelowitz will serve on any of its
committees.
As
remuneration for his service as a director, Dr. Berelowitz will receive an
annual fee as the other non-executive directors.
A copy of
the press release announcing the appointment of Dr. Berelowitz is attached to
this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference
herein.
|
ITEM
9.01
|
FINANCIAL
STATEMENTS AND EXHIBITS.
|
|
(d)
|
Exhibits
|
|
Exhibit
Number
|
Description
|
|
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99.1
|
Press
Release dated May 18, 2010.
|
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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ORAMED PHARMACEUTICALS
INC.
|
||||
|
Dated:
May 21, 2010
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||||
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By:
|
/s/
Nadav Kidron
|
|||
|
Nadav
Kidron
|
||||
|
President,
CEO and Director
|
||||
Exhibit
Index
|
Exhibit
Number
|
Description
|
|
|
99.1
|
Press
Release dated May 18, 2010.
|
Oramed
Pharmaceuticals announces that Dr. Michael Berelowitz, Senior Vice
President
at Pfizer, Joins its Board of Directors
JERUSALEM,
Israel, May 18, 2010-- Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) announced
that Dr. Michael Berelowitz, MD, joins Oramed Pharmaceuticals’ Board of
Directors. Dr. Berelowitz is currently Senior Vice President and Head of
Clinical Development and Medical Affairs in the Specialty Care Business Unit at
Pfizer, Inc., the world's largest research-based pharmaceutical
company.
Dr.
Berelowitz joined Pfizer in 1996, after a number of years in academia, as a
Medical Director in the Diabetes Clinical Research team. Since then he has
assumed positions of increasing responsibility until being appointed to his
present role in 2009. Among his public activities, Dr. Berelowitz has served on
the board of directors of the American Diabetes Association, the Clinical
Initiatives Committee of the Endocrine Society, and has chaired the Task Force
on Research of the New York State Council on Diabetes. He has also served on
several editorial boards, including the Journal of Clinical Endocrinology and
Metabolism and Endocrinology, Reviews in Endocrine and Metabolic Disorders and
Clinical Diabetes. Dr. Berelowitz has authored and co-authored more than 100
peer-reviewed journal articles and book chapters in the areas of pituitary
growth hormone regulation, diabetes and metabolic disorders.
“Dr.
Michael Berelowitz joins our board and Oramed gains a renowned industry leader
in the study of diabetes. His extensive experience should help us bring our
insulin capsule ORMD-0801 through trials and to market. We are delighted to have
him as part of our team,” states Nadav Kidron, Oramed Chief Executive
Officer.
"I have
been closely following Oramed's progress and am impressed with the
significant advances that the company has made in developing its novel oral
insulin capsule, ORMD-0801,” said Dr. Berelowitz. "I am very pleased to join
Oramed's Board of Directors and look forward to working with the leadership team
to enhance the development of therapeutic applications of the company’s oral
drug delivery technology and in the further maturation of
ORMD-0801."
About
Oramed Pharmaceuticals
Oramed
Pharmaceuticals is a technology pioneer in the field of oral delivery solutions
for drugs and vaccines presently delivered via injection. Oramed is seeking to
revolutionize the treatment of diabetes through its patented flagship product,
an orally ingestible insulin capsule currently in Phase 2 clinical trials.
Established in 2006, Oramed's technology is based on over 25 years of research
performed by top research scientists at Jerusalem's Hadassah Medical Center. The
Company's corporate and R&D headquarters are based in
Jerusalem.
For more
information, please visit http://www.oramed.com
Safe
Harbor Statement
Some of
the statements contained in this press release are forward-looking statements
which involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the company, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such 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 for our product
candidates; competition from other pharmaceutical or biotechnology companies;
and the company's ability to obtain additional funding required to conduct its
research, development and commercialization activities. Please refer to the
company's filings with the Securities and Exchange Commission for a
comprehensive list of risk factors that could cause actual results, performance
or achievements of the company to differ materially from those expressed or
implied in such forward looking statements. The company undertakes no obligation
to update or revise any forward-looking statements.
Company
and Investor Relation Contacts:
Oramed
Pharmaceuticals
Tara
Horn
Office:
646-240-4193
Cell:
+972-54-334-4318
Email:
tara@oramed.com