JERUSALEM, November 7, 2012 /PRNewswire/ --
Oramed Pharmaceuticals Inc. (OTCBB: ORMP; www.oramed.com), a developer of oral delivery systems, announced today that results of a study performed using its oral insulin formulation, ORMD-0801, have been accepted for presentation at the 12th Annual Diabetes Technology Society Meeting. The abstract, titled "Concomitant oral and subcutaneous insulin therapy toward stabilization of uncontrolled T1DM," will be presented by Oramed's Chief Scientific Officer, Dr. Miriam Kidron, during the poster session being held from 4pm to 6:30pm (EST), on Thursday, November 8th. The meeting will take place at the Bethesda North Marriott Hotel & Conference Center.
Type 1 Diabetes Mellitus (T1DM), formerly known as juvenile diabetes, affects both young and adult populations. T1DM makes up approximately 5-10% of diabetes cases, and approximately $2 billion of the estimated $15 billion global insulin market. In this form of the disease, an autoimmune reaction destroys the body's insulin-producing cells in the pancreas making its patients completely dependent upon insulin from an external source.
T1DM is occasionally associated with instability and unpredictability of glycemic readings, resulting in poor control of blood sugar. In severe cases, this condition has a disruptive impact on patient quality of life, due to inadequate clinical solutions. The study to be presented at the Diabetes Technology Society Meeting, and conducted in 2010, evaluated the safety and stabilizing potential of concomitant oral and subcutaneous insulin therapy in volunteers diagnosed with unstable T1DM. Concomitant administration of Oramed's oral insulin formulation, ORMD-0801, and subcutaneous insulin proved safe and well tolerated. In addition, support with ORMD-0801 led to more frequent blood glucose readings within the healthy range (< 70 mg/dL) and to fewer readings within the high-risk zone (> 200 mg/dL).
The complete scientific abstract will be available on Oramed's website from the day of the meeting, here.
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 technology is based on over 25 years of research by top research scientists at Jerusalem's Hadassah Medical Center. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule currently approaching FDA-approved Phase 2 clinical trials, and with its GLP-1 analog capsule, currently approaching Phase 1b/2a trials. The company's corporate and R&D headquarters are based in Jerusalem.
The company's fact sheet can be viewed here.
For more information, the content of which is not part of this press release, please visit http://www.oramed.com
Forward-looking statements: This press release contains forward-looking statements. For example, we are using forward looking statements when we discuss the findings of the study to be presented at the Diabetes Technology Society Meeting and say that concomitant administration of oral and subcutaneous insulin proved safe and well tolerated. 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 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; we may encounter delays or obstacles in launching our clinical trials; our technology may not be validated as we progress further and our methods may not be accepted by the scientific community; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties may develop with our process; our products may wind up being more expensive than we anticipate; results in the laboratory may not translate to equally good results in real settings; our patents may not be sufficient; our products may harm recipients; changes in legislation; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, 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.
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SOURCE Oramed Pharmaceuticals Inc.