Oramed Pharmaceuticals Inc（ORMP）のニュースとイベントORMPOramed Pharmaceuticals Inc

Lifeward Closes Strategic Partnership with Oramed

Lifeward (LFWD) announced that it has closed on the company's previously announced strategic partnership agreement with Oramed Pharmaceuticals (ORMP). The transaction has positioned Lifeward as a diversified biomedical innovation company with an expected clear path to profitability. Lifeward acquired Oramed's clinical-stage Protein Oral Delivery technology, adding exposure to a large, long-term biotech market opportunity. Through the new partnership, Lifeward has access to up to $47M of capital from Oramed and certain investors, and on March 25, Lifeward accessed $10M of such capital.

Lifeward Shareholders Approve Partnership with Oramed

Lifeward (LFWD) announced that its shareholders approved the issuances of ordinary shares of the Company in connection with closing of the Company's previously announced strategic partnership agreement with Oramed Pharmaceuticals (ORMP). "This is a defining moment in Lifeward's evolution," said Mark Grant, President and CEO of Lifeward. "With this partnership now moving towards closing, we believe Lifeward is uniquely positioned to combine the strength of our proven medical technology platform with the long-term potential of the POD oral delivery technology. We are building a disciplined, diversified biomedical innovation company that we believe can deliver both near-term financial performance and meaningful long-term growth opportunities for shareholders."

Oramed and Lifeward Sign Binding Strategic Transaction Agreement

Oramed (ORMP) and Lifeward (LFWD) signed 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 $10M in senior secured convertible notes in a private placement, of which Oramed to invest $9M, and an additional milestone-based $10M senior secured convertible note, of which Oramed will invest $9M, 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. Upon consummation of the transaction, Lifeward will acquire Oramed's complete POD technology. Under a clinical trial management agreement, Oramed is expected to manage the upcoming anticipated trial. Oramed will receive 4% on net sales of the ReWalk franchise for up to 10 years. 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.