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Oramed Shares Gain On COVID-19 Vaccine Joint Venture Pact

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Vandana Singh
·1 min read
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Oramed Pharmaceuticals Inc (NASDAQ: ORMP) has entered into definitive agreements to form a joint venture focused on developing oral COVID-19 vaccines.

  • The new company, Oravax Medical Inc, will use Oramed's proprietary POD oral delivery technology and Premas Biotech Pvt. Ltd.'s novel vaccine technology

  • Oravax's orally delivered COVID-19 vaccine candidate is a virus-like particle (VLP) triple antigen vaccine that targets three structural proteins.

  • In a pilot animal study, the oral COVID-19 vaccine promoted both systemic immunity through Immunoglobulin G (IgG), the most common antibody in blood and bodily fluids that protects against viral infections, and Immunoglobulin A (IgA).

  • Oravax will start a clinical study during the second quarter of 2021.

  • Price Action: ORMP shares are trading 3.65% higher at $9.66 on the last check Friday.

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