Oramed Pharmaceuticals Inc. (NASDAQ/TASE: ORMP), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, announced that Mr. Xiaoming Gao is joining its board of directors.
Mr. Gao is the Chairman of Hefei Tianhui Incubator of Technologies Co. Ltd. (“HTIT”), which signed a strategic licensing partnership with Oramed in November 2015 to bring oral insulin to China. HTIT received an IND from the Chinese regulatory authorities to initiate oral insulin clinical trials in China. Mr. Xiaoming Gao has more than 30 years of experience in the insulin industry and launched Novo Nordisk insulin to most of China and then was in charge of its distribution for the following 11 years.
In 2005, Mr. Gao invested and established Hefei Life Science and Technology Park Investment and Development Co., LTD., and led the existing team to successfully complete the registration of imported Insulin-SciLin in China from 2005 to 2009, and obtained the Imported Drug License. This product was transferred to Bayer for sale and promotion at the end of 2009. In 2007, he founded Hefei Tianmai Biotechnology development Co., Ltd. (“HTBT”) and started recombinant human insulin and insulin analogs’ R&D manufacturing for the Greater China region, which is commercially available under the National Medical Product Administration (NMPA) in China.
Oramed CEO Nadav Kidron said, “As we move forward with the oral insulin facilities and clinical trials in China, we welcome Mr. Gao and the vast experience he brings to Oramed. We are looking forward to furthering the collaboration between Mr. Gao’s companies and Oramed.”
Oramed also announced that Ms. Xiaopeng Li, CFO of HTIT, has resigned from the board.
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 (PODTM) technology that is based on more than 30 years of research by scientists at Jerusalem’s Hadassah Medical Center. 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 capsule for the treatment of Type 2 and Type 1 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, which has potential to be the first orally-ingestible GLP-1 analog.