Oramed forms JV with HTIT for oral insulin; HTIT contributes $70M, Oramed $20M + IP

ORAMED PHARMACEUTICALS INC.

Joint venture will develop oral insulin and POD technology; HTIT contributes $70M cash, Oramed $10M cash + $10M in ORMP shares.
Oramed transfers intellectual property to JV; receives 3% royalty on gross revenues from Oramed-related assets.
JV intends to initiate a Phase 3 oral insulin trial in the United States.
Closing contingent on signing ancillary agreements within 3 months and obtaining IIA approval (estimated redemption fee $2M-$6M).
Initially 50/50 ownership; HTIT has option to invest up to $20M more for increased equity stake.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

ORAMED PHARMACEUTICALS INC. entered into "JV Agreement" with Hefei Tianhui Biotech Co., Ltd. and Technowl Limited valued at $70 million in cash from HTIT and $20 million from Oramed (comprised of $10 million in cash and $10 (effective 2024-01-22).

Action: entry
Agreement: collaboration
Counterparty: Hefei Tianhui Biotech Co., Ltd. and Technowl Limited
Value: $70 million in cash from HTIT and $20 million from Oramed (comprised of $10 million in cash and $10
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, Oramed Pharmaceuticals Inc., a Delaware corporation (“Oramed”) and its wholly-owned subsidiary, Oramed Ltd., entered into a Joint Venture Agreement (the “JV Agreement”) with Hefei Tianhui Biotech Co., Ltd. (“HTIT Biotech”) and Technowl Limited, a wholly-owned indirect subsidiary of HTIT Biotech (“HTIT Sub,” and together with HTIT Biotech, “HTIT”), pursuant to which, subject to the terms and conditions set forth in the JV Agreement, the parties will establish a joint venture (“JV”) based on Oramed’s oral drug delivery technology.

View on SEC.gov

Browse all material agreements →

ORAMED PHARMACEUTICALS INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-005780

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.