Oramed Pharmaceuticals Appoints Chief Commercial Officer
NEW YORK, July 29, 2021 -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, today announced the appointment of Michael Rabinowitz to the newly created position of Chief Commercial Officer effective August 1, 2021. Mr. Rabinowitz will be responsible for Oramed's overall commercial strategy and execution.
"As we move through the Phase III trials of our oral insulin, ORMD-0801, we are looking ahead towards the next step: commercialization. We're very pleased to welcome Michael Rabinowitz as Oramed's first Chief Commercial Officer. Michael's years of global commercial experience make him the ideal leader for Oramed's next phase of growth and development. Throughout his career, he has built a strong track record in successfully launching new products and will certainly play a vital role in commercializing Oramed's pipeline," stated Oramed Chief Executive Officer, Nadav Kidron.
Mr. Rabinowitz is a highly accomplished commercial leader having spent over 20 years at the global biopharmaceutical company Merck & Co. serving in marketing, sales, business development, and financial leadership roles in the U.S. and globally. At Merck, he launched and marketed products in over 30 countries across several disease areas, including launching billion-dollar oral agents in diabetes and managing a global business. Mr. Rabinowitz holds a Masters' Degree from The Carlson School of Management, University of Minnesota. He has also participated in executive health care programs at the Harvard Business School.
"I am very excited to join Oramed and work with the team to advance healthcare through Oramed's innovative technology," said Mr. Rabinowitz.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals (Nasdaq/TASE: ORMP) is a platform technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection. Established in 2006, with offices in the United States and Israel, Oramed has developed a novel Protein Oral Delivery (POD™) technology. Oramed is seeking to transform the treatment of diabetes through its proprietary lead candidate, ORMD-0801, which is being evaluated in two pivotal Phase III studies and has the potential to be the first commercial oral insulin capsule for the treatment of diabetes. In addition, Oramed is developing an oral GLP-1 (Glucagon-like peptide-1) analog capsule, ORMD-0901.
For more information, please visit www.oramed.com.
Forward-looking statements: This press release contains forward-looking statements. For example, we are using forward-looking statements when we discuss the potential commercialization of ORMD-0801 and pipeline, the potential benefits of ORMD-0801 or revolutionizing the treatment of diabetes with our products. In addition, historic results of scientific research and clinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. These forward-looking statements are based on the current expectations of the management of Oramed only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for our product candidates; competition from other pharmaceutical or biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; laboratory results that do not translate to equally good results in real settings; our patents may not be sufficient; and finally that products may harm recipients, all of which could cause the actual results or performance of Oramed to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Oramed undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Oramed, reference is made to Oramed's reports filed from time to time with the Securities and Exchange Commission.
SOURCE Oramed Pharmaceuticals Inc.