ORAMED PHARMACEUTICALS INC. (NASDAQ:ORMP) Files An 8-K Other Events
Item 8.01. Other Events.
Effective March 20, 2017, the registrants board of directors
appointed Dr. Ronald Law, age 64, as Chief Strategy Officer.
From 2004 to 2016, Dr. Law served in several leadership and
strategic roles in Takeda Pharmaceuticals Company Limited and its
business divisions, where the latest role was Vice President, New
Frontier Science, Chief Medical and Scientific Officer Unit in
Takeda Pharmaceuticals International/Takeda Development Center,
Americas.
Dr. Law also served as the Consulting Head of Business
Development in PharmaIN Corporation in 2016 and currently serves
as a consultant for other medical companies. Prior to joining
Takeda Pharmaceuticals, Dr. Law was an Associate Professor of
Medicine in the Endocrinology Division, UCLA School of Medicine.
Dr. Law received a PhD in Molecular Biology from UCLA and a JD
from the Whittier College School of Law. He is a member of the
American Diabetes Association and the American Heart Association.
Mr. Law will provide services to a consulting agreement (the
Consulting Agreement) with the registrants wholly-owned Israeli
subsidiary, Oramed Ltd. (the Subsidiary). to the Consulting
Agreement, Mr. Law will devote approximately 50% of his working
time to the Subsidiary and will receive a monthly fee of $10,000.
Mr. Law will also receive options to purchase 37,152 shares of
the registrants common stock at an exercise price per share equal
to $6.00 per share. The options will vest in 24 consecutive equal
monthly installments following March 20, 2017.
A copy of the Consulting Agreement is attached as Exhibit 10.1 to
this Current Report on Form 8-K and is incorporated herein by
reference. The description of the consulting terms of Mr. Law is
a summary only and is qualified in its entirety by reference to
Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
| 10.1 |
Consulting Agreement, dated March 20, 2017, between Oramed Ltd. and Ronald Law. |
About ORAMED PHARMACEUTICALS INC. (NASDAQ:ORMP)
Oramed Pharmaceuticals Inc. (Oramed) is engaged in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed’s flagship product, an orally ingestible insulin capsule in phase II clinical trials, is focused on the treatment of diabetes. The Company is developing orally ingestible protein oral delivery (POD) technology for the delivery of drugs presently administered by way of injection. Oramed’s delivery platform protects protein sand enhances their absorption, allowing them to reach the blood stream through the portal vein. The Company’s products include ORMD-0801, Oral insulin capsule; ORMD 0901, Oral Exenatide capsule; and combination therapy of ORMD 0801 + ORMD 0901. ORMD-0801 is under phase II A clinical trials. ORMD-0901 is under preclinical/Investigational New Drug (IND) stage under phase I B. ORAMED PHARMACEUTICALS INC. (NASDAQ:ORMP) Recent Trading Information
ORAMED PHARMACEUTICALS INC. (NASDAQ:ORMP) closed its last trading session down -0.06 at 5.90 with 32,617 shares trading hands.