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ORMP > SEC Filings for ORMP > Form 8-K on 23-Jul-2014All Recent SEC Filings

Show all filings for ORAMED PHARMACEUTICALS INC.

Form 8-K for ORAMED PHARMACEUTICALS INC.


23-Jul-2014

Entry into a Material Definitive Agreement


ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On July 22, 2014, Oramed Ltd. (the "Subsidiary"), a wholly-owned subsidiary of Oramed Pharmaceuticals Inc. (the "Company"), entered into a Clinical Research Organization Services Agreement with Integrium, LLC ("Integrium") to retain Integrium as a clinical research organization, for the Subsidiary's planned upcoming Phase 2b clinical trial. The trial will be conducted under an Investigational New Drug application that was submitted to the U.S. Food and Drug Administration in April 2013 for the Phase 2a sub-study, and is designed to assess the safety and efficacy of ORMD-0801 on approximately 180 type 2 diabetic patients. The Subsidiary expects to start the trial in the fourth quarter of calendar year 2014 in the United States and to complete it in December 2015.

As consideration for its services, the Subsidiary will pay Integrium a total amount of up to $3.3 million that will be paid over the term of the engagement and based on the achievement of certain milestones.


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