Oramed and Lifeward Announce Strategic Transaction

Rhea-AI Summary

Oramed Pharmaceuticals and Lifeward (NASDAQ: LFWD) signed binding agreements dated January 13, 2026 to transfer Oramed's POD™ oral drug delivery platform to Lifeward in exchange for Oramed receiving a 49.9% beneficial ownership interest upon satisfaction of closing conditions. Lifeward will issue two $10 million senior secured convertible notes (8% interest) with 100% warrant coverage; Oramed to invest $9M in each note. Oramed will fund and manage the upcoming clinical trial and receive 4% of net ReWalk sales for up to 10 years. Lifeward reported $26M revenue from ReWalk and AlterG in the last four quarters.

Positive

• Oramed to obtain 49.9% beneficial ownership in Lifeward
• Lifeward reported $26 million revenue last four quarters
• Oramed committed $18 million to convertible notes (two $9M investments)

Negative

• Potential dilution from note conversion and 100% warrant coverage
• Closing contingent on Lifeward shareholder approval and milestones
• Debt burden: two $10M notes with 8% annual interest

News Market Reaction

-1.17% 8.0x vol

8 alerts

-1.17% News Effect

+2.8% Peak in 8 min

-$2M Valuation Impact

$146M Market Cap

8.0x Rel. Volume

On the day this news was published, ORMP declined 1.17%, reflecting a mild negative market reaction. Argus tracked a peak move of +2.8% during that session. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $146M at that time. Trading volume was exceptionally heavy at 8.0x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Beneficial ownership: 49.9% stake in Lifeward Initial convertible notes: $10 million Oramed initial investment: $9 million +5 more

8 metrics

Beneficial ownership 49.9% stake in Lifeward Ownership Oramed expects to obtain in Lifeward

Initial convertible notes $10 million Senior secured convertible notes issued by Lifeward

Oramed initial investment $9 million Portion of first $10M notes Oramed will purchase

Additional convertible notes $10 million Milestone-based senior secured convertible notes

Oramed milestone investment $9 million Portion of additional $10M notes Oramed will purchase

Note interest rate 8% annually Interest on both series of convertible notes

ReWalk & AlterG revenue $26 million Revenue from Lifeward products in last four quarters

ReWalk royalty 4% of net sales for up to 10 years Royalty on ReWalk franchise payable to Oramed

Market Reality Check

Price: $3.39 Vol: Volume 445,091 vs 20-day ...

high vol

$3.39 Last Close

Volume Volume 445,091 vs 20-day average 253,365 (about 1.76x typical trading activity ahead of this news). high

Technical Shares at $0.6294, trading below 200-day MA of $0.87, 78.66% below 52-week high and 25.63% above 52-week low.

Peers on Argus

Within orthopedic/medical device peers, RSLS gained 29.8%, PAVM 10.61%, BMRA 1.5...

2 Up

Within orthopedic/medical device peers, RSLS gained 29.8%, PAVM 10.61%, BMRA 1.52%, while HSCS fell 3.06% and DHAI was flat. Momentum scanner also flagged XAIR and PAVM moving up. With LFWD’s modest 1.19% rise and mixed peer moves, trading appeared more stock‑specific than a uniform sector rotation.

Historical Context

5 past events · Latest: Dec 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 19	Leadership change	Positive	-4.4%	Appointment of Bob Marshall as Chairman effective January 1, 2026.
Dec 17	Commercial expansion	Positive	+0.1%	New ReWalk distribution agreement covering Mexico, Thailand, and UAE.
Dec 03	Reimbursement update	Positive	+25.4%	Humana Medicare Advantage prior authorization for ReWalk 7 exoskeleton.
Nov 17	Reimbursement update	Positive	-0.5%	UnitedHealthcare Medicare Advantage prior authorization for ReWalk 7.
Nov 14	Earnings and financing	Positive	+14.9%	Q3 2025 results with revenue growth, lower cash burn, and Oramed loan.

Pattern Detected

Positive operational and reimbursement news has often led to upside moves, though some governance and payer-coverage milestones saw muted or negative next-day reactions.

Recent Company History

Over the last several months, Lifeward has focused on reimbursement expansion, governance changes, and capital management. Medicare Advantage prior authorizations for ReWalk 7 on Nov 17 and Dec 3, 2025 highlighted growing payer support, with the latter driving a 25.45% gain. Q3 2025 results on Nov 14 showed revenue of $6.2M, a $3.2M net loss, and a 16% cash-burn reduction, prompting a 14.87% rise. Recent international distribution expansion and a board chair transition had far smaller price impacts. Today’s strategic transaction builds on this push toward scale and financial stability.

Market Pulse Summary

This announcement outlines a strategic shift, combining Oramed’s POD™ oral drug delivery platform wi...

Analysis

This announcement outlines a strategic shift, combining Oramed’s POD™ oral drug delivery platform with Lifeward’s revenue‑generating ReWalk and AlterG® robotics, which produced $26 million over the last four quarters. The deal adds up to $20 million in 8% senior secured convertible notes, with Oramed investing $18 million and targeting 49.9% ownership plus royalties. In context of prior financing, including a $3.0M secured note, investors may track how this transaction affects Lifeward’s path to profitability and capital structure.

Key Terms

senior secured convertible notes, warrants, private placement, Regulation D, +3 more

7 terms

senior secured convertible notes financial

"Lifeward to issue $10 million in senior secured convertible notes in a private placement"

A senior secured convertible note is a loan a company issues that sits near the top of its repayment order (senior), is backed by specific assets as collateral (secured), and can be swapped into company shares later (convertible). For investors this matters because it combines lower risk of repayment and legal protection from the collateral with the upside of converting into equity—so it affects both the safety of debt holders and potential dilution for shareholders.

warrants financial

"including warrantsMark Grant, Lifeward CEO, with 25+ years experience"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

private placement financial

"senior secured convertible notes in a private placement, of which Oramed to invest"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

Regulation D regulatory

"under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act"

Regulation D is a set of rules that govern how companies can raise money from investors without going through the full process required for public stock offerings. It provides simplified options for private placements, making it easier for companies to seek investments from a smaller group of investors. For investors, it offers opportunities to invest in private companies, often with fewer restrictions, but also with different levels of risk and disclosure.

Section 4(a)(2) regulatory

"pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2)"

Section 4(a)(2) is a part of U.S. securities laws that allows companies to sell their stock directly to certain investors without registering the sale with regulators. This process is often used for private placements, making it easier and faster for companies to raise money from knowledgeable or institutional investors. It matters to investors because it provides an alternative way to buy shares, often with fewer disclosures and lower costs.

FDA-approved regulatory

"Lifeward's FDA-approved ReWalk® and AlterG® products generated $26 million"

FDA-approved means a medical product, drug, device or treatment has passed the U.S. Food and Drug Administration’s review for safety and effectiveness for a specific use. Think of it like a formal safety and performance seal that allows the product to be marketed for that purpose in the U.S.; for investors, approval reduces regulatory uncertainty, enables sales and reimbursement pathways, and can materially affect a company’s revenue prospects and valuation.

convertible notes financial

"These notes will be convertible into ordinary shares of Lifeward and will have 100% warrant coverage."

Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.

AI-generated analysis. Not financial advice.

Transaction Will Transfer Oramed's Oral Drug Delivery Platform (POD™ Technology) to Lifeward and Positions Oramed as a Significant Shareholder

• Oramed will transfer POD™ platform to Lifeward while retaining management of clinical program
• Oramed will receive 49.9% beneficial ownership interest in Lifeward, a revenue-generating medical robotics company, including warrants
• Mark Grant, Lifeward CEO, with 25+ years experience in the diabetes sector at Medtronic and Bristol Myers Squibb, to lead combined platforms
• In addition, strategic investment by Oramed designed to bring Lifeward towards profitability
• Lifeward's FDA-approved ReWalk® and AlterG® products generated $26 million in last four quarters

NEW YORK, Jan. 13, 2026 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) (TASE: ORMP) ("Oramed") and Lifeward Ltd. (NASDAQ: LFWD) ("Lifeward") today announced the signing of binding agreements for a strategic transaction between Oramed, Lifeward and a certain accredited investor. The transaction includes the transfer to Lifeward of Oramed's proprietary Protein Oral Drug POD™ delivery technology and Oramed obtaining 49.9% beneficial ownership interest in Lifeward upon the satisfaction of certain terms and conditions. In addition, Lifeward to issue $10 million in senior secured convertible notes in a private placement, of which Oramed to invest $9 million, and an additional milestone-based $10 million senior secured convertible note, of which Oramed will invest $9 million, each with 100% warrant coverage. The transaction allows Oramed to significantly increase its ownership stake in Lifeward upon full conversion of the notes and exercises of the warrants.

Strategic Vision

Oramed believes this transaction represents a strategic evolution for Oramed, combining continued exposure to oral drug delivery innovation with participation in a medical robotics company which Oramed believes is positioned for significant growth. Upon consummation of the transaction, Lifeward will acquire Oramed's complete POD™ technology, representing years of research and development in transforming injectable therapies into oral medications. Under a clinical trial management agreement, Oramed is expected to manage the upcoming anticipated trial.

Lifeward's leadership under President and CEO Mark Grant, who brings over 25 years of healthcare and medical technology experience including serving as Vice President of the Americas with full P&L responsibility for Medtronic's diabetes business exceeding $1.5 billion in annual revenue , as well as diabetes-focused roles at Bristol Myers Squibb, provides strong leadership to advance the newly acquired oral drug delivery platform.

Nadav Kidron, CEO of Oramed, commented:

"We believe this transaction represents an important strategic milestone for Oramed. By transferring our POD™ technology to Lifeward with a significant ownership stake, Oramed shareholders retain substantial exposure to the oral delivery platform while simultaneously gaining meaningful participation in a proven revenue-generating medical robotics business and revenue streams, alongside Oramed's other strategic assets. With Mark Grant's extensive diabetes industry experience at the helm, we are confident in Lifeward's ability to advance both the medical robotics and oral insulin platforms."

Mark Grant, President and CEO of Lifeward, commented:

"Oramed is an ideal strategic partner for Lifeward at this pivotal moment in our company's evolution. This transaction is expected to provide us with the financial resources to achieve profitability with our proven ReWalk® and AlterG® product lines while simultaneously opening significant growth opportunities through the acquisition of Oramed's POD™ technology. We see significant potential to advance the oral insulin program and build a truly diversified biomedical innovation company."

Transaction Overview

Oramed and Lifeward signed definitive agreements including:

• Oral Delivery Technology Transfer: Transfer of Oramed's POD™ technology to Lifeward, which Oramed is expected to obtain 49.9% beneficial ownership in Lifeward, plus warrants. Oramed will fund and manage the anticipated upcoming clinical trial. Oramed will receive 4% on net sales of the ReWalk franchise for up to 10 years.
• Convertible Note: Lifeward to issue $10 million convertible notes with 8% annual interest, convertible into ordinary shares of Lifeward and have 100% warrant coverage. Oramed to invest $9 million of the convertible notes.
• Additional Convertible Note: Lifeward to issue $10 million convertible notes with 8% annual interest. These notes will be convertible into ordinary shares of Lifeward and will have 100% warrant coverage. The additional note will be automatically triggered upon the successful achievement of defined commercial milestones. Oramed to invest $9 million of the convertible notes.

The transaction is contingent upon certain customary closing conditions, including, among others, the receipt of the requisite approval of Lifeward's shareholders, and with respect to the additional notes, the achievement of certain revenue based or share price based milestones.

The securities in the private placement offering will be offered and sold in transactions exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws.

This press release is not an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Oramed Pharmaceuticals

Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) is a clinical-stage pharmaceutical company and platform technology pioneer in oral delivery solutions for drugs currently delivered via injection. Oramed's Protein Oral Delivery (POD™) technology is designed to protect drug integrity and increase absorption. Oramed is building a diversified active investment portfolio while advancing its refined oral insulin program.

For more information, visit www.oramed.com. 

About Lifeward

Lifeward Ltd. (Nasdaq: LFWD) (formerly ReWalk Robotics) designs, develops, and commercializes technologies that restore mobility and enhance rehabilitation outcomes. Under the leadership of President and CEO Mark Grant, who brings over 25 years of healthcare and medical technology experience, Lifeward is focused on achieving profitability with its ReWalk® Personal Exoskeleton and AlterG® Anti-Gravity Systems while pursuing strategic growth opportunities.

For more information, visit www.golifeward.com 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: the completion of the private placements and the satisfaction of customary closing conditions related to the private placements. Except as otherwise required by law, Oramed and Lifeward undertake no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 

Contact Information

Oramed Investor Relations:
Tel: +1-844-9-ORAMED
Email: ir@oramed.com 

Logo: https://mma.prnewswire.com/media/1724339/Oramed_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/oramed-and-lifeward-announce-strategic-transaction-302659575.html

SOURCE Oramed Pharmaceuticals Inc.

FAQ

What ownership stake will Oramed hold in Lifeward after the transaction (LFWD)?

Oramed is expected to receive 49.9% beneficial ownership in Lifeward upon satisfaction of closing conditions.

How much will Oramed invest in Lifeward convertible notes?

Oramed will invest $9 million in each of two $10M senior secured convertible notes (total committed $18M).

What revenue did Lifeward's ReWalk and AlterG produce recently?

Lifeward reported $26 million in revenue from ReWalk and AlterG in the last four quarters.

Will Oramed continue to manage the POD™ clinical program after the transfer?

Yes. Under a clinical trial management agreement, Oramed is expected to fund and manage the upcoming trial.

What economic rights does Oramed retain related to ReWalk sales?

Oramed will receive 4% of net sales of the ReWalk franchise for up to 10 years.