zk1414375.htm


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):  February 10, 2014

ORAMED PHARMACEUTICALS INC.
(Exact name of registrant as specified in its charter)

DELAWARE
001-35813
98-0376008
(State or Other Jurisdiction
(Commission
(IRS Employer
of Incorporation)
File Number)
Identification No.)

Hi-Tech Park 2/4 Givat Ram, PO Box 39098, Jerusalem, Israel
 
91390
(Address of Principal Executive Offices)
 
(Zip Code)

+972-2-566-0001
(Registrant’s telephone number, including area code)
 
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:
 
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 7.01.       REGULATION FD DISCLOSURE.

Oramed Pharmaceuticals Inc., or Oramed, has posted an updated corporate presentation to its website. A copy of the presentation is furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

ITEM 8.01.       OTHER EVENTS.

In addition, on February 10, 2014, Oramed announced that it had submitted a protocol to the U.S. Food and Drug Administration to initiate a Phase 2a trial of its orally ingestible insulin capsule, ORMD 0801, for type 1 diabetes. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.2 and incorporated herein by reference.

ITEM 9.01.        FINANCIAL STATEMENTS AND EXHIBITS.

(d)     Exhibits.

99.1
Corporate Presentation
99.2
Press release issued by Oramed on February 10, 2014

 
 

 

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.
 
 
ORAMED PHARMACEUTICALS INC.
 
       
 
By:
/s/ Nadav Kidron  
    Name: Nadav Kidron  
    Title:  President and CEO  
       
February 12, 2014
 


exhibit_99-1.htm


Exhibit 99.1
 
Breakthrough
Technology
for a
Brighter Future
1
February 2014
 
 

 
2
Safe Harbor
Certain statements contained in this material are forward-looking statements. 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, and others, 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. 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. 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. Oramed
undertakes no obligation to update or revise any forward-looking statements.
 
 

 
3
Oramed Overview
Proprietary Protein Oral Delivery (POD™) platform technology
For the oral delivery of drugs that are currently only available via injection
Product
Pipeline
Proof of Concept established in preclinical and clinical trials
Publicly traded - NASDAQCM:ORMP
Founded in 2006 by its scientific inventors after more than two
decades of research
 § Oral Insulin (ORMD-0801)
 o Type 2 diabetes
 o Type 1 diabetes
 § Oral GLP-1 Analog (ORMD-0901)
 § Combination Therapy (ORMD 0801 + 0901)
 
 

 
4
Agenda Overview
Oral Administration
Diabetes
Oramed Pipeline
Corporate Overview
The Challenge
The Oramed Solution
Statistics and Market
Oral Insulin
Oral GLP-1 Analog
Management Team
Scientific Advisory Board
Intellectual Property
Financials
 
 

 
5
Oramed

An Oral Solution
 
 

 
Harsh pH
Protease
threat
Mechanical
challenges
Absorption
barrier
6
Fate of proteins/peptides in GIT
Leads to protein breakdown and lack of absorption
 
 

 
Oramed POD™ Technology:
The Solution
7
Oramed’s delivery platform protects proteins and enhances their
absorption
, allowing them to reach the bloodstream via the portal
vein, thereby establishing a
more physiologic protein gradient
when compared to other delivery systems.
Protease Inhibitors
Enteric Coating
 
 

 
Versatile
Supports a wide
range of protein
sizes and doses
Simple
Simple blend of
ingredients
Versatile
Simple
Competent
Regulatory competence
No NCEs;
widely applied pharmacopoeia
8
Oramed POD™ Technology
 
 

 
Insulin
GLP-1
Analog
Other
9
Potential Oramed Technology Applications:
Opportunities & Market
 $15+ billion 2012 global insulin market
 $32 billion projected market for 2018
$2+ billion 2012 global GLP-1 market
Many patients stop treatment as a result of
injection-related side effects
Vaccines: $24 billion in 2013 - grew from $5
billion in 2000
Flu vaccine estimated at $2.9 billion in
2011 to $3.8 billion in 2018
Interferon: $6.3 billion, 2011 global market
 
 

 
Diabetes:

A Global Epidemic
 
 

 
POPULATION
 371 million: Number of diabetics worldwide
  25.8 million in the US - projected to 44.1 million by 2034
 Type 2 diabetes accounts for about 90% of diabetes cases
COST
 $471 billion: estimated annual global economic burden - includes
 direct medical costs, disability, reduced productivity
 America: approx. $176 billion in direct medical costs and $69 billion in
 reduced productivity
 Projected American economic burden for direct medical costs alone by
 2034 -
$336 billion (based on current obesity levels, Diabetes Care, 2009).
11
 
 

 
Oramed Pipeline
 
 

 
ORMD-0801

Oral Insulin
 
 

 
50
37
As of Nov 12, 2013
Total number of
study subjects:
153
Total number of
human doses:
1632
 
 

 
15
Portal insulin delivery is physiologic.
Systemic insulin delivery is not.
l Blood glucose - insulin secretion
 system forms a 'closed-loop'
l Peripheral insulin promotes glucose
 uptake in fat and muscle
 
l First-pass hepatic metabolism
 extracts 80% of secreted insulin
l Systemic exposure is minimized
portal vein
liver
small intestine
stomach
To systemic
circulation
 
 

 
ORMD-0801

Type 2 Diabetes
(T2DM)
 
 

 
17
Initial Treatment:
 Lifestyle Modification
 Diet & Exercise
Single & Combination Oral
Therapies:
 Reduce insulin resistance
 Stimulate insulin secretion
Final Treatment:
 Insulin Replacement
  (injections)
ORMD-0801 is not a substitute for
insulin injections, but rather a
new earlier treatment option
Criteria for advancing to next stage:
AIC not at target < 7.0%
Type 2 Diabetes:
Stages & Treatment Options
0
25
50
75
100
IGT
Post-
prandial
hyper-
glycemia
T2DM
phase I
T2DM
phase II
T2DM
 
 

 
18
Fasting Blood Glucose (FBG):
 Measurement of blood glucose levels after a fast (e.g. first thing in the morning)
 Effected by liver regulation of glucose and insulin levels in the body during a fast
Elevated FBG
 Elevated FBG levels are a major issue in T2DM
 Main cause: excessive nocturnal glucose production from liver
 Current treatments for correction of elevated FBG are suboptimal
FBG: Stats
 Approximately 70% of individuals with impaired FBG develop T2DM
 An estimated > 80% of T2DM patients exhibit abnormal FBG and fail to achieve glycemic
 control with Metformin or thiazolidinediones (TZDs) preparations
ORMD-0801: Unique Indication
 Nighttime dose
T2DM
 
 

 
0
20
40
60
80
0
60
120
180
Time (min)
n=4
8 mg
insulin
ORMD-0801: Preclinical - Dogs
  Healthy, non-diabetic, cannulated beagle dogs showed a 60-75% drop in blood
 glucose levels within 30-100 minutes of treatment
  No hypoglycemia or adverse events were observed over the three years of
 testing
T2DM
ORMD-0801 (C)
ORMD-0801 (A)
1.5 U NovoRapid
8 mg insulin, no additives
 
 

 
20
40
60
80
-
0
30
60
90
120
NC
0
100
-
10
150
Time (min)
NC; 4 independent test sessions
ORMD-0801; 10 independent sessions
Fasting
n=2
Pre-prandial
0
20
40
60
80
100
120
140
0
50
100
150
Time (min)
-20
n=3
NC; 6 independent test sessions
ORMD-0801; 5 independent sessions
8 mg
insulin
ORMD-0801: Preclinical - Pigs
No hypoglycemia or adverse events were observed
T2DM
 
 

 
ORMD-0801 Trial Results:
A Summary
21
 Healthy, non-diabetic, cannulated beagle dogs
 showed a 60-75% drop in blood glucose levels
 within 30-100 minutes of treatment
 No hypoglycemia or adverse events were
 observed over the three years of testing (in dogs)
 Randomized, double-blind, multi-center study
 on 29 patients - 21 dosed, 8 placebo,
 6 weeks of monitoring
 Showed relevant clinical impact
 Good safety profile
 Safe and well tolerated by all patients
 No SAEs
T2DM Patients
Pre-clinical
T2DM
ORA-D-004
Insulin
CRP
ORMD-0801
placebo
-4
-2
0
2
4
6
8
 
 

 
ORMD-0801
Phase 2a Results
 
 

 
ORMD-0801: Phase 2a FDA Study
Overview:
30 T2DM patients
US site
In-patient setting
Double blind
Randomized
1 week of treatment
23
T2DM
End Points:
Primary end point:
  Safety and tolerability
Secondary end points:
  Pharmacodynamic effects on mean night time
 glucose
  Pharmacokinetics on AUC, Cmax, Tmax, T½
  Changes from baseline in FBG, morning fasting
 insulin, C-peptide
 
 
 

 
 
 
Phase 2a Results: Safety
24
T2DM
No Serious Adverse Events
The study clearly shows that ORMD-0801 is safe and well tolerated
 
 
 

 
ORMD-0801

Type 1 Diabetes
(T1DM)
25
 
 

 
26
T1DM
 
 

 
50.75
38
49.7
DAY
NIGHT
pretreatment
treatment
Frequency glucose >200mg/dL
20
30
40
50
60
06:00
-
08:59
09:00
-
11:59
12:00
-
13:59
14:00
-
18:59
19:00
-
20:59
21:00
-
23:59
00:00
-
05:59
Time
Design: 8 T1DM, monitor glycemic stability of orally administered ORMD-0801 (1
capsule (8 mg insulin) before meals, three times daily). Glucose monitored with
continuous, blinded glucose monitor
27
ORMD-0801: T1DM
DAY
NIGHT
180
200
220
240
260
280
300
pretreatment
treatment
Mean glucose n=8
ê 11.5%
Results: Safe, well tolerated,
reduced glycemia.
T1DM
 
 

 
ORMD-0901

Oral GLP-1
Analog
(T2DM)
 
 

 
Oral GLP-1 Analog (Exenatide)
GLP-1: Hormone Facts
 Secreted by the intestine
 Has effect on the satiety center in the brain
 Has effect on pancreatic β-cells
GLP-1 Analog: Drug Facts
 Good safety profile
 Mimics the natural hormone in the body
 Decreases blood glucose levels - aids in
 blood sugar balance
 Does not cause hypoglycemia
 Effectively reduces HbA1c
 Preserves beta cell function
 Promotes weight loss
 Current therapy is via injection only
29
Pre-IND package submitted to
  the US FDA Q3 2013
IND enabling tox studies Q2,
  2014
P1b ex-US study Q2, 2014
ORMD-0901
Oral GLP-1
 
 

 
 
Oral GLP-1 - ORMD-0901
Blunting of glucose excursions in dogs
0
20
40
60
80
100
120
S.C.
AG
4
AG
3
-
+
+
+
+
Exenatide
*
*
*
Glucose
Results: Subcutaneous exenatide delivery amounted to a 51% reduction in mean glucose
AUC0-150, while formulations AG4 and AG3 prompted 43% and 29% reductions, respectively
(* p = 0.068, demonstrating a treatment-related trend for the sample size).
ORMD-0901 formulations preserved the biological activity of orally
delivered exenatide. ORMD-0901 successfully curbed blood sugar
excursions following glucose challenge.
Methods:
Ø Healthy, fasting, cannulated
 dogs
Ø Single dose ORMD-0901
 formulation
Ø Administered 30 minutes
 pre-glucose challenge
Ø Blood samples collected every
 15 minutes
30
 
 

 
Mean AUC
Placebo:
148.5±30.5
No Nausea
Insulin:
180.3±106.3
­ 21%
150 mg
exenatide
0
40
60
80
100
120
140
Time (min)
-50
0
100
150
n=4
ORMD-0901
placebo
31
ORMD-0901 - T2DM
Study
First in Human
4 healthy volunteers
Placebo controlled
Pre-prandial
 
 

 
Pipeline Overview
32
 Therapy
 Indication
 Phase I
 Phase II
Phase III/
Market
  Timeline
 ORMD -
 0801
 Oral Insulin
 T2DM
 
 
 
Q4, ‘13: Phase 2a completed
Q2/3, ’14: Phase 2b multi-center study
projected initiation
 T1DM
 
 
 
Q1, ’14: Phase 2a projected initiation
Q1, ’15: Phase 2b multi-center study projected
initiation
 ORMD-0901
 Oral GLP-1
 T2DM
 
 
 
Q2, ’14: Preclinical/IND studies projected
initiation
Q2, ’14: Phase 1b ex-US study projected
initiation
Q2, ’15: Phase 2 multi-center study projected
initiation
 
 

 
Corporate
Overview
 
 

 
Management
34
Nadav Kidron, Esq, MBA
CEO & Director
Experience in various industries, including corporate law and
technology
Miriam Kidron, PhD - CSO & Director
Senior Researcher at the Diabetes Unit of Hadassah Medical
Center for more than 25 years
Josh Hexter - COO, VP Bus. Dev.
More than 15 years of prominent leadership roles in 
biotech and pharma
 
Yifat Zommer, CPA, MBA - CFO
Extensive experience in corporate financial management
 
Michael Berelowitz, MD
Chairman of Oramed SAB
SVP Clinical Development &
  Medical Affairs, Pfizer (former)
Harold Jacob, MD
Chief Medical Officer, Given
   Imaging (former)
Gerald Ostrov
CEO, Bausch&Lomb (former)
Senior level Executive J&J (former)
Leonard Sank
Entrepreneur and businessman
Board of Directors
 
 

 
 
 

 
36
 
 

 
37
Financial Overview*
Ticker: NASDAQ: ORMP
 $43M raised to date **
 No Debt
 Cash and investments: $23.8M
 Shares Issued: 9.7M
 Fully diluted: 11.9M ***
37
* As of January 14, 2014
** Including the shares of D.N.A Biomedical Solutions Ltd.
*** Including outstanding 0.9M options and 1.5M warrants
 
 

 
ORMD-0801
Oral Insulin
ORMD-0901
Oral GLP-1Analog
Anticipated Milestones 2014-2015
Initiation & Completion of IND-enabling studies
Initiation & Completion of Phase 1b ex-US study
Initiation of Phase 2 multi-site study under US IND
T2DM
Completion of Phase 2a FDA study
Initiation & Completion of Phase 2b multi-site study
  under US IND
T1DM
Initiation & Completion of Phase 2a FDA study
Initiation & Completion of Phase 2b multi-site study
  under US IND
 
 

 
Analyst Coverage
39
 Oramed is followed by the analysts listed below:
 Please note that any opinions, estimates or forecasts regarding Oramed's performance made by
 these analysts are theirs alone and do not represent opinions, forecasts or predictions of Oramed
 or its management. Oramed does not by its reference above or distribution imply its
 endorsement of or concurrence with such information, conclusions or recommendations.
Analyst
Firm
Raghuram Selvaraju
Aegis Capital Corp.
Graig Suvannavejh
MLV & Co.
 
 

 
In Summary
Product pipeline with the potential to expand to other
 indications
Proprietary technology platform (POD™) for oral
 delivery of peptides
Clear proof of concept
Strong IP
Orally ingestible insulin capsule in Phase 2
 clinical development under the US FDA
Significant market opportunity
World-leading scientific team
Experienced management team
 
 

 
Breakthrough Technology
for a Brighter Future
Contact :
Nadav Kidron
CEO
nadav@oramed.com
Josh Hexter
COO
josh@oramed.com
41
 
 


exhibit_99-2.htm


Exhibit 99.2
 
Oramed Submits Phase 2a Protocol to FDA for the Treatment of Type 1 Diabetes with its Oral
Insulin Capsule
 
JERUSALEM February 10, 2014—Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP) (www.oramed.com), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, announced today that it has submitted a protocol to the U.S. Food and Drug Administration (FDA) to initiate a Phase 2a trial of its orally ingestible insulin capsule, ORMD 0801, for type 1 diabetes.
 
The protocol was submitted under Oramed’s existing IND for ORMD-0801 to include both type 1 and type 2 diabetes indications. The double-blind, randomized, placebo controlled, seven-day study design will be carried out at an inpatient setting on twenty-four type 1 diabetic patients. This US- based study is expected to start later this quarter.
 
"With the encouraging data from our recent Phase 2a FDA trial on type 2 diabetic patients, we are moving forward on both the type 1 and type 2 indications by submitting this type 1 protocol to the FDA while gearing up for the Phase 2b multi-center trial on type 2 patients to take place later this year," commented Oramed CEO Nadav Kidron.

About ORMD-0801 Oral Insulin and T1DM
 
Oramed proposes to introduce ORMD-0801 to reduce the mealtime insulin doses, introducing a treatment regimen which would allow for fewer daily injections.  Moreover, oral administration offers the benefit of reduced systemic exposure and may enable tighter regulation of blood sugar levels by directly affecting glucose control in the liver.  For more information on ORMD-0801, the content of which is not part of this press release, please visit http://oramed.com/index.php?page=14

About Oramed Pharmaceuticals
 
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 (PODTM) 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 2 clinical trials on patients with type 2 diabetes (T2DM) under an Investigational New Drug application with the U.S. Food and Drug Administration, and with its oral exenatide capsule (ORMD-0901; a GLP-1 analog). 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, 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 within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, we are using forward-looking statements when we discuss our clinical trials, including the expected timing, and 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 final 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.
 
Company Contact:
Oramed Pharmaceuticals
Aviva Sherman-Guiloff
Office: +972-2-566-0001
US: 1-718-831-2512
Email: aviva@oramed.com

 
Oramed Pharmaceuticals Inc.   |    Kefar Hi-Tech 2/4 P.O. Box 39098, Jerusalem, Israel 91390.   |    www.oramed.com
 
Phone: 011-972-2-566-0001   |    Fax: 011 972-2-566-0004  |    Email: office@oramed.com