Oramed and Hefei Tianhui form $60m oral insulin JV

Oramed Pharma, a New York-Israel biopharma, signed a non-binding term sheet with Hefei Tianhui Biotech (HTBT) forming a joint venture to commercialize Oramed’s oral drug delivery products.

HTBT will invest $60 million in the JV, while Oramed will add $10 million, with each company owning 50%. The focus of the new venture will be the global commercialization of innovative products based on Oramed’s oral insulin and POD (Protein Oral Delivery) pipeline. HTBT will contribute its manufacturing capacity and experience. The JV is subject to signing a binding definitive agreement.

The JV will be responsible for developing, marketing and commercializing drug products globally, focusing initially on Oramed’s oral insulin/POD technology. The parties expect the JV to start a Phase III trial of Oramed’s oral insulin product in the United States.

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Insulin 3D molecular model. DepositPhotos/Leonid_Andronov

HTBT, which has a state-of-the-art oral insulin manufacturing facility in Hefei, is a high-tech company specializing in biopharmaceutical product manufacturing and R&D, with an emphasis on the oral delivery of therapeutic macromolecules.

“We are thrilled to further our relationship with HTBT, expanding the reach of our oral drug delivery technology to a global market,” said Oramed CEO, Nadav Kidron. “HTBT has successfully completed a Phase III oral insulin trial and submitted a New Drug Application to China’s National Medical Products Administration, with marketing approval currently pending in China. HTBT has state-of-the-art facilities, manufacturing capabilities and the know-how needed to produce oral insulin on an international scale. This JV is a true opportunity to leverage our strengths as well as those of our partners to fast-track our pipeline towards commercialization.”

Oramed Pharmaceuticals focuses on oral delivery versions of drugs currently delivered via injection. The company’s novel Protein Oral Delivery (POD) technology is designed to protect drug integrity and increase absorption.

HTBT, a company with experience in manufacturing biopharma drugs and insulin, was formed by scientists who, in the 1980s, developed the second generation of insulin. The transferred the technology to Poland’s Bioton, Holland’s Organon, India’s SciGen and the United Arab Emirates’ Julphar. In recent years, HTBT has focused on the research of insulin analogs.

A version of this article was first published in ChinaBio Today on 3 August 2023