From Bloomberg Businessweek
Oramed Pharmaceuticals Inc. (ORMP:US), the Israeli drugmaker seeking to develop the first oral insulin pill, said a trial on type 2 diabetes patients showed that the medicine has promising therapeutic potential.
The one-week study of 30 patients also met safety goals, the Jerusalem-based company said in a statement today. The company released no data from the study, and said it expects to present full results at a scientific conference. Oramed plans to follow the mid-stage trial with another this year as it pursues a product that, if approved, would provide relief for millions of people taking daily insulin shots.
“The results we announced today give us confidence about the chances of success in a bigger trial going forward,” Chief Executive Officer Nadav Kidron said at a press conference today at the Tel Aviv Stock Exchange. “We are also excited about the potential of this drug for type 1 diabetes.”