Medicox-Oramed, Strategic Partnership for Mutual Investment and Attracting Korean and US Institutional Investors

[Asia Economy Reporter Jang Hyowon] KOSDAQ-listed Medicox signed a strategic business agreement with NASDAQ-listed Oramed Pharmaceuticals on the 29th of last month at the Chosun Palace Hotel Seoul Gangnam during the 'Oral Insulin Capsule (ORMD0801) Clinical Status' briefing session to promote mutual investment and attract institutional investors from Korea and the United States.

Through this MOU, both companies will cooperate to attract institutional investors from Korea and the United States alongside mutual investments, and discuss commercialization and development plans for all pipelines owned by Oramed, including the oral insulin (ORMD0801).

Oramed is an Israel-based global biotech company developing and commercializing oral drug delivery products, listed on NASDAQ in 2007. It leads oral delivery solution technology for drugs traditionally administered via injection and is conducting the world's first FDA Phase 3 clinical trial for oral insulin based on its new POD (Protein Oral Delivery) technology. It has also developed an oral GLP-1 (Glucagon-like peptide-1) analog capsule (ORMD-0901) for diabetes treatment.

Recently, Oramed announced positive topline results from the FDA Phase 2 clinical trial for a non-alcoholic steatohepatitis (NASH) treatment and Phase 1 clinical trial for an oral COVID-19 vaccine under development by its subsidiary Oravax.

Medicox CEO Oh Daehwan stated, “This strategic business agreement was significant as it confirmed a comprehensive and strategic partnership between the two companies rather than a simple licensing contract,” adding, “Going forward, both companies will cooperate more closely to achieve greater goals in the bio business sector.”