Oramed Signs Term Sheet With HTIT To Create A Joint Venture To Advance Oral Drug Delivery Technology Globally; HTIT To Invest $60M, Oramed To Invest $10M Into JV; Shares Spike Higher
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Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) has signed a non-binding term sheet with Hefei Tianhui Biotech Co., Ltd. (HTIT) to establish a joint venture (JV) based on Oramed's oral drug delivery technology. The JV will focus on the development and worldwide commercialization of products based on Oramed's oral insulin and POD™ pipeline and HTIT's manufacturing capabilities. HTIT will invest $60 million and Oramed will invest $10 million into the JV.
August 04, 2023 | 11:02 am
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Oramed's partnership with HTIT to establish a JV for oral drug delivery technology could potentially boost its market presence and revenues. The $10M investment by Oramed could impact its short-term financials.
The JV will focus on the development and worldwide commercialization of products based on Oramed's oral insulin and POD™ pipeline, which could potentially increase its market presence and revenues. However, the $10M investment by Oramed into the JV could impact its short-term financials, but is likely to be beneficial in the long run.
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RELEVANCE 100