NEW YORK, Sept. 15, 2020 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, today announced results from a diabetes market survey conducted for Oramed by a third party research firm. The survey included qualitative interviews with healthcare providers as well as type 1 (T1D) and type 2 (T2D) diabetes patients regarding Oramed's lead oral insulin product, ORMD-0801, which is headed into a Phase III trial.
Forty-one health care providers, including 22 endocrinologists and 19 primary care physicians, nurse practitioners, physician assistants and certified diabetes educators were surveyed. There was strong support among these health care providers for use of oral insulin with T2D patients early in the treatment process through a primary care physician before the need for injectable insulin and before the patient is moved to an endocrinologist for diabetes care. ORMD-0801 resonated well with health care providers because of the potential for ORMD-0801 to not cause hypoglycemia or weight gain, as well as the advantage of being an oral medication that does not require needles. Overall, health care providers stated they would "strongly recommend oral insulin" for:
T2D patients currently on oral medication;
T2D patients who are candidates for insulin; and
T2D patients who are candidates for basal insulin.
Forty T1D and T2D patients were surveyed and responded with a high degree of interest, stating oral administration of insulin is "extremely important" or "very important."
91% of T1D patients surveyed stated they were "extremely likely" or "very likely" to ask their doctors about ORMD-0801;
85% of T2D patients surveyed stated they were "extremely likely" or "very likely" to ask their doctors about ORMD-0801; and
80% of T2D patients surveyed stated oral administration is "extremely important" or "very important", in particular to delay injectable insulin.
Oramed's Chief Executive Officer, Nadav Kidron, commented, "This latest market survey further confirms the value of our oral insulin capsule. The very high degree of interest from patients and the receptivity of doctors for an oral insulin that can be prescribed early in the treatment process combine to give us a clear picture of where ORMD-0801 fits in the diabetes care market. Of course, patients should discuss all medication options with their healthcare providers. As we move into our Phase III study, we will be in active contact with stakeholders including health care providers, payers and patients."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a platform technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection. Established in 2006, with offices in New York and Israel, Oramed has developed a novel Protein Oral Delivery (POD™) technology. Oramed is seeking to revolutionize the treatment of diabetes through its proprietary lead candidate, ORMD-0801, which has the potential to be the first commercial oral insulin capsulefor the treatment of diabetes. The Company has completed multiple Phase II clinical trials under an Investigational New Drug application with the U.S. Food and Drug Administration. In addition, Oramed is developing an oral GLP-1 (Glucagon-like peptide-1) analog capsule, ORMD-0901.
Forward-looking statements: This press release contains forward-looking statements. For example, we are using forward-looking statements when we discuss heading into a Phase III trial, the potential benefits of ORMD-0801, the interest in and receptivity and support for ORMD-0801 by patients and health care providers if it is approved or revolutionizing the treatment of diabetes with our products. In addition, historic results of scientific research and clinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. 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 finally 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.