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): December 27, 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):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
7.01
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REGULATION
FD DISCLOSURE
|
On
December 23, 2010, Oramed Pharmaceuticals Inc. (the “Company”) issued a press
release reporting that its wholly owned Israeli subsidiary, Oramed Ltd, was
awarded a government grant amounting to a total net of 2.9 million NIS
($807,000), from the Office of the Chief Scientist (OCS) at the Ministry of
Industry, Trade and Labor of Israel. This grant was awarded as government
participation in research and development expenses for the period July 2010 to
June 2011, and it is subject to return according to the terms determined by the
OCS.
A copy of
the press release is attached to this Current Report on Form 8-K as Exhibit 99.1
and is incorporated herein by reference.
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ITEM
9.01
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FINANCIAL
STATEMENTS AND EXHIBITS.
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|
(d)
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Exhibits
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|
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99.1
|
Press
Release dated December 23,
2010.
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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.
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||
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Dated:
December 27, 2010
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||
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By:
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/s/
Nadav Kidron
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Nadav
Kidron
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President,
CEO and Director
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Exhibit
Index
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Exhibit
Number
|
Description
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|
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99.1
|
Press
Release dated December 23,
2010.
|
Oramed
Pharmaceuticals was Awarded a NIS 2.9 million Grant from the Israeli Office of
the Chief Scientist
JERUSALEM,
Israel – December 23, 2010 Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB)
(http://www.oramed.com), a developer of oral delivery systems, today reported
that its wholly owned Israeli subsidiary, Oramed Ltd., was awarded a government
grant amounting to a total net amount of NIS 2.9 million ($807,000 USD), from
the Office of the Chief Scientist (OCS) at the Ministry of Industry, Trade and
Labor of Israel.
The OCS
awards grants to industry in Israel in order to foster technological
innovations. The funds will be designated and used by Oramed Ltd. to support
further R&D and clinical study of its Oral Insulin capsule and Oral
GLP1-Analog.
Nadav
Kidron Esq., CEO of Oramed Pharmaceuticals, commented: "We are pleased to have
received the support of the Office of the Chief Scientist for the second year in
a row. This grant will allow for further development of our product
pipeline."
About the Office of the
Chief Scientist and its Grant Application Criteria
The OCS
selects its recipients on various criteria including the financial strength of a
company, the exceptionality of a company's innovative technology, and the
potential of a company's technology to significantly improve an existing product
or process.
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 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 www.oramed.com
Forward-looking
statements
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
USA: +1
646-240-4193
Int’l: +
972-54-334-318
Office: +
972-2-566-0001
Email: tara@oramed.com