Top 10 Israeli medical advances to watch in 2014 @ ISRAEL21c
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ISRAEL21c compiles a list of the 10 most extraordinary medical devices and pharmaceuticals that promise to revolutionize global healthcare.
Top 10 Israeli medical advances to watch in 2014
By Abigail Klein Leichman December 22, 2013, No Comments
Prof. Hossam Haick with the Na-Nose prototype.
In our recent “Top 12 most amazing Israeli medical advances”, we promised a top 10 list of the most exciting Israeli medical-device and
pharmaceutical developments just around the corner.
Like the top 12, this list was also very difficult to narrow down, because Israeli breakthroughs in this field are a near-daily occurrence. Our top 10
is just the tip of the iceberg.
Watch for new health stories on ISRAEL21c every week for a broader picture of how Israeli ingenuity is changing the face of healthcare
worldwide.
1. Na-Nose can detect lung cancer from exhaled breath and will be commercialized in a joint venture with Boston-based Alpha Szenszor – after
a few more years of development and testing by the US Food and Drug Administration (FDA). Invented by Technion Prof. Hossam Haick, Na-
Nose (the “na” is for “nanotechnology”) has been proven in numerous international clinical trials to differentiate between different types and
classifications of cancer with up to 95 percent accuracy.
LLiikkee 2.5k
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2. Hervana non-hormonal, long-acting contraceptive suppository won a $1 million development grant last year from the Bill & Melinda Gates
Foundation. The Gates Foundation is banking on the product’s potential to provide a more accessible, cheaper and socially acceptable family
planning option in developing countries, though it would be marketed in the United States and Europe as well.
Hervana founder Rachel Teitelbaum with Bill Gates.
3. Vecoy Nanomedicines nano-scale virus-traps (“vecoys”) capture and destroy viruses before they can infect cells, offering a huge advance
over antiviral medications and even vaccines. Through the MassChallenge startup accelerator program last November, Vecoy’s platform was
chosen to be tested in zero-gravity conditions on an upcoming NASA space mission.
Treating viruses with vecoys.
4. CartiHeal Agili-C cartilage regeneration solution for knees can regenerate true hyaline cartilage (the most abundant type of cartilage in the
human body) after six months, according to clinical results so far. Based on research at Ben-Gurion University of the Negev, the implant has
earned the European Union’s CE Mark of approval. Further clinical studies could lead to FDA approval in the coming years.
5. Oramed Pharmaceuticals seeks to change Type 2 diabetes treatment from a daily injection to a daily pill. Its oral insulin capsule recently
received patent approval in the EU, and is in Phase 2 clinical trials under an Investigational New Drug application with the FDA. Jerusalem-based
Oramed is also moving forward with clinical trials of a capsule to treat Type 1 diabetes.
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Finally, an oral medication for diabetes?
UPDATED ON 12/4/2015
ORAMED SIGNS UP TO $50 MILLION LICENSING AND INVESTMENT AGREEMENTS FOR ORAL INSULIN CAPSULE IN CHINA
Receiving up to $38,000,000 + royalties for licensing deal and $12,000,000 for equity investment at $10.39 per share
JERUSALEM, Nov. 30, 2015
Oramed Pharmaceuticals Inc. (NASDAQ: ORMP), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, announced today it has signed definitive licensing and investment agreements valued at up to $50,000,000 with Hefei Tianhui Incubator of Technologies Co., Ltd. (“HTIT”) for exclusive rights to market Oramed’s oral insulin capsule, ORMD-0801, in China, Hong Kong and Macau. The agreements were signed at the Israel Knesset (Parliament).
![From left to right: Prof. Avram Hershko, Oramed Scientific Advisory Board; Mr. Nadav Kidron, Oramed CEO; Mr. Bin Zhou, Sinopharm Vice General President; Mr. Xiaoming Gao, HTIT Chairman [photo: Maoz Vaystooch. editorial use only/courtesy Oramed.]](https://photos.prnewswire.com/prnvar/20151130/291560 "From left to right: Prof. Avram Hershko, Oramed Scientific Advisory Board; Mr. Nadav Kidron, Oramed CEO; Mr. Bin Zhou, Sinopharm Vice General President; Mr. Xiaoming Gao, HTIT Chairman [photo: Maoz Vaystooch. editorial use only/courtesy Oramed.]")
[From left to right: Prof. Avram Hershko, Oramed Scientific Advisory Board; Mr. Nadav Kidron, Oramed CEO; Mr. Bin Zhou, Sinopharm Vice General President; Mr. Xiaoming Gao, HTIT Chairman. Photo: Maoz Vaystooch]
The license agreement payments include a $3 million payment due upon execution of the agreement, $8 million in near-term payments subject to Oramed entering into certain agreements and the balance payable upon achievement of certain milestones. In addition, if all conditions are met, HTIT will pay a 10% royalty on net sales of the related commercialized products.
In addition to the contemplated payments under the license agreement, pursuant to the investment agreement, Oramed will issue to HTIT 1,155,469 restricted shares of Oramed’s common stock at a price per share of approximately $10.39 and $12 million in total, subject to customary closing conditions.
“China recently became the country with the largest number of diabetics in the world. Having signed these definitive license and investment agreements, our oral insulin capsule could help serve the growing population of people in China living with diabetes,” stated Oramed’s CEO Nadav Kidron. “In addition to the $50 million in milestone payments and investments, we believe the royalties on net sales throughout China will have a very significant impact on Oramed’s future revenues and earnings, upon market approval of ORMD-0801 in China.”
About Hefei
HTIT, which is partially owned by Sinopharm Group Company Limited, has state of the art insulin production facilities in Hefei, China. HTIT has a business focus which includes industrial investment and incubation services; high-tech product R&D; technology transfer and related consulting services.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection. Established in 2006, Oramed’s Protein Oral Delivery (PODTM) technology is based on over 30 years of research by top scientists at Jerusalem’s Hadassah Medical Center. Oramed is seeking to revolutionize the treatment of diabetes through its proprietary flagship product, an orally ingestible insulin capsule (ORMD-0801). Having completed separate Phase IIa clinical trials, the company anticipates the initiation of separate Phase IIb clinical trials, in patients with both type 1 and type 2 diabetes under an Investigational New Drug application with the U.S. Food and Drug Administration. In addition the company is developing an oral GLP-1 analog capsule (ORMD-0901).
For more information, please visit www.oramed.com, the content of which is not part of this press release.
SOURCE
6. Premia Spine developed the TOPS (Total Posterior Solution) System, aiming to revolutionize the spinal implant market with an artificial joint in
the same way that total hip and total knee replacement systems made hip and knee fusions a thing of the past. TOPS is available already in
Austria, Germany, the UK, Turkey and Israel. An FDA study is now in the follow-up phase.
TOPS is revolutionizing the spinal implant market.
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7. Mapi Pharma recently won US patents for two promising slow-release platforms for drugs to treat multiple sclerosis symptoms and pain. “We
believe in two to three years they could be in the final stage of development, and about three years to market,” says Mapi Pharma president and
CEO Ehud Marom. Another slow-release platform for a schizophrenia drug is next in the pipeline.
8. Discover Medical introduced the SomnuSeal mask for CPAP machines – used widely by sufferers of sleep apnea – in Europe. If sales are
successful, the US market will be next. Because SomnuSeal is more comfortable than the current masks used with the machine, compliance
could be much greater. Plus, the device does not put strain on the heart as the current mask does.
A more comfortable, safer mask for treating sleep apnea.
9. Real Imaging is in the midst of European clinical trials of RUTH, its radiation-free, contact-free, inexpensive and advanced imaging system
for early detection of breast cancer. The system, which has won patent approvals in several countries, analyzes 3D and infra-red signals emitted
from cancerous and benign tissue, generating an objective report that needs no interpretation. Founder and CTO Boaz Arnon presented RUTH
at the most recent conference of the Radiological Society of North America. Initial release of the product will likely be in Europe sometime in
2015.
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About Abigail Klein Leichman
Abigail Klein Leichman is a writer and associate editor at ISRAEL21c. Prior to moving to Israel in 2007, she was a specialty writer and copy editor at a daily
newspaper in New Jersey and has freelanced for a variety of newspapers and periodicals since 1984.
View all stories by Abigail Klein Leichman →
RUTH, a hands-off breast cancer detection alternative.
10. NeuroQuest has started clinical testing in the United States, under the auspices of Harvard Clinical Research Institute, for its
groundbreaking blood test to detect early-stage Alzheimer’s disease. Initial trials in Israel showed NeuroQuest’s test – based on research by
Prof. Michal Schwartz of the Weizmann Institute of Science – to be 87 percent accurate with an 85% specificity rate in detecting Alzheimer’s and
ALS, two common neurodegenerative diseases.
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