Oramed Reports Positive Top-Line Results from Phase 2 NASH Trial with its ORMD-0801, Oral Insulin Candidate

• Primary endpoint met: ORMD-0801 was safe and well tolerated
• Secondary endpoint met: ORMD-0801 showed clinically meaningful reduction of liver fat from baseline at 12 weeks
• Strong evidence for treatment of NASH using Oramed's oral insulin

NEW YORK, Sept. 13, 2022 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ( www.oramed.com ), a clinical-stage pharmaceutical company focused on the development of oral drug delivery platforms, announced today positive Phase 2 results from its double-blind, fully randomized, placebo-controlled, multicenter trial to assess the safety and efficacy of its oral insulin candidate (ORMD-0801), to reduce liver fat content in Type 2 Diabetes ("T2D") patients with non-alcoholic steatohepatitis ("NASH").

The 12-week trial enrolled 32 patients (with 30 patients completing) and demonstrated that ORMD-0801 was safe and well tolerated at 8 mg twice daily dosing, meeting the primary endpoint of no difference in adverse events for ORMD-0801 compared to placebo.

The trial also evaluated the effectiveness of ORMD-0801 in reducing liver fat content over the 12-week treatment period by observing several independent measures. These measurements included MR PDFF(%) as measured by MRI, Steatosis and Fibrosis as measured by Fibroscan, Lipids and HbA1c. All the measurements showed a consistent clinically meaningful trend in favor of ORMD-0801.

"These results paint an exciting picture for the potential of our oral insulin candidate to treat patients with both diabetes and NASH, a very serious condition with few treatment options," said Oramed's Chief Executive Officer, Nadav Kidron. "At the same time, we await the top-line data from our Phase 3 trial of oral insulin for T2D, which we expect in January 2023."

About the Trial
ORA-D-N02 is a Phase 2 double-blind, randomized, placebo-controlled, multicenter trial to assess the safety and efficacy of Oramed's oral insulin candidate, ORMD-0801, to reduce liver fat content in T2D patients with NASH. The trial's primary endpoint was to evaluate the safety of oral insulin in patients with NASH and T2D, with a secondary endpoint to assess, non-statistically, ORMD-0801's efficacy in reducing liver fat content in patients with NASH and T2D.

The trial recruited 32 patients who were administered either placebo (11 patients) or ORMD-0801 8 mg twice daily (one capsule in the morning, prior to breakfast, and one capsule at night) (21 patients) for 12 weeks.

About NASH
NASH is a serious, progressive liver disease caused by a buildup of fat in the liver and accompanied by inflammation, liver cell damage, and in some cases, scarring of the liver. Over time, NASH may progress to cirrhosis, liver cancer, liver failure, and even death. Currently, no pharmacotherapy is globally approved for the treatment of NASH, and people with NASH are left with very few treatment options.

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 3 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 safety and efficacy of ORMD-0801 to reduce liver fat content in T2D patients with NASH, the timing of results of our clinical trials and the potential of ORMD-0801 to be the first commercial oral insulin capsule for the treatment of diabetes. 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.

Company Contact:
Zach Herschfus
+1-844-9-ORAMED
zach@oramed.com

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SOURCE Oramed Pharmaceuticals Inc.