Oramed Shares Gain On COVID-19 Vaccine Joint Venture Pact

Oramed Pharmaceuticals Inc 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.