Oramed

PhaseV Raises $15 Million to Push the Boundaries of ML for Clinical Trial Optimization

Retrieved on: 
Tuesday, October 24, 2023
Steps, MSD, CSO, Viola Ventures, Clinical trial, Rare, Vutrisiran, Endocrinology, Drug development, Teva, Biology, Medicine, Machine learning, University, ML, AI, Patient, Failure, Biostatistics, Medical imaging, Pharmaceutical industry, Oramed

BOSTON, Oct. 24, 2023 /PRNewswire/ -- PhaseV a pioneer in causal machine learning (ML) technology that optimizes clinical trial design and analysis, announced today that it has raised $15 million in funding, led by Viola Ventures and Exor Ventures, including participation from LionBird and a group of prominent angel investors.

Key Points: 
  • PhaseV tackles this challenge by leveraging proprietary ML technology that provides clinical development teams an advanced ability to retrospectively analyze and optimally design studies, as well as adapt in real-time throughout the trial.
  • This ML-driven adaptive process can significantly accelerate the clinical drug development process and increase certainty along the way, resulting in more efficient, targeted, and ultimately more successful clinical trials.
  • PhaseV offers two distinct service lines for AI clinical trial optimization.
  • The second involves retrospective analysis that detects hidden signals in clinical trial data and evaluates endpoints and subpopulations to redefine success or failure of a trial.

Scilex Holding Company Announces the Consummation of the Previously Announced Purchase of all of the Scilex Common Shares, Preferred Shares and Warrants Owned by Sorrento Therapeutics, Inc.

Retrieved on: 
Thursday, September 21, 2023
Transfer, Common stock, PALO, SOFR, Quality of life, Patient, OTC, Chronic pain, Security (finance), Oramed

PALO ALTO, Calif., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced the consummation of the previously announced purchase of securities from Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”).

Key Points: 
  • PALO ALTO, Calif., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced the consummation of the previously announced purchase of securities from Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”).
  • Pursuant to that certain Stock Purchase Agreement entered into on September [21], 2023, between Scilex and Sorrento, Scilex, through its wholly-owned subsidiary, acquired (i) all of the shares of Scilex common stock owned by Sorrento (other than such shares held in abeyance by Sorrento on behalf of certain warrant holders of Sorrento), (ii) all of the shares of Scilex preferred stock owned by Sorrento, and (iii) all of the warrants for the purchase of shares of Scilex common stock owned by Sorrento (collectively, the “Securities Transfer”) for aggregate consideration consisting of: (i) $110 million (comprised of cash payments of $10 million in the aggregate and assumption of approximately $100 million in indebtedness of Sorrento as detailed in the next paragraph); plus (ii) the assumption by the Company of certain legal fees and expenses in the amount of approximately $12.25 million; plus (iii) a credit bid of all amounts owed to Scilex under the junior secured debtor-in-possession financing facility provided by Scilex to Sorrento.
  • “This transaction demonstrates our commitment to deliver long-term value to our shareholders and advance innovative non-opioid therapies for acute and chronic pain patients.
  • Our talented team is dedicated in furthering improvements in the care of patients to enhance quality of life,” said Jaisim Shah, President and Chief Executive Officer of Scilex Holding Company.

Sorrento Therapeutics, Inc. Announces the Consummation of the Previously Announced Sale of Substantially All of the Common Shares, Preferred Shares and Warrants that Sorrento Held in Scilex Holding Company

Retrieved on: 
Friday, September 22, 2023
Transfer, Therapy, Bank statement, Infection, Cancer, Sale, SAN, OTC, Security (finance), Oramed

SAN DIEGO, Sept. 22, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento" or "Company"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, announced the consummation on September 21, 2023, of the previously announced sale to Scilex Holding Company (Nasdaq: SCLX, "Scilex") of certain securities that Sorrento held in Scilex.

Key Points: 
  • SAN DIEGO, Sept. 22, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento" or "Company"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, announced the consummation on September 21, 2023, of the previously announced sale to Scilex Holding Company (Nasdaq: SCLX, "Scilex") of certain securities that Sorrento held in Scilex.
  • As a result of the Securities Transfer, the Company no longer has a controlling interest over Scilex and Scilex ceased to be a majority-owned subsidiary of Sorrento.
  • Consequently, we expect Scilex will be deconsolidated from the Company's financial statements prospectively and will be presented as discontinued operations.
  • Additionally, upon the closing of the Securities Transfer, Sorrento and Oramed mutually terminated that certain Stock Purchase Agreement (as amended, the "Oramed SPA"), dated as of August 7, 2023, between Oramed and Sorrento for the sale of Sorrento's equity interests in Scilex to Oramed, which termination includes a release of claims by each of the parties relating to the Oramed SPA.

Oramed Announces $101,875,000 Short-Term Senior Secured Note Transaction with Scilex Holding Company

Retrieved on: 
Thursday, September 21, 2023
Bankruptcy, Senior, Debtor in possession, Note, DIP, Sale, Hearing, TASE, United States bankruptcy court, Security (finance), Oramed

NEW YORK, Sept. 21, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE:ORMP) today announced that on September 21, 2023, Oramed and Scilex Holding Company ("Scilex") entered into a Securities Purchase Agreement pursuant to which Scilex issued a Senior Secured Promissory Note (the "Note") to Oramed.

Key Points: 
  • NEW YORK, Sept. 21, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE:ORMP) today announced that on September 21, 2023, Oramed and Scilex Holding Company ("Scilex") entered into a Securities Purchase Agreement pursuant to which Scilex issued a Senior Secured Promissory Note (the "Note") to Oramed.
  • The Note is the culmination of Scilex's assumption of Sorrento Therapeutics Inc.'s ("Sorrento") approximately $100 million senior secured Debtor In Possession ("DIP") term loan facility with Oramed.
  • Oramed previously announced the execution of term sheets relating to the Note on September 13, 2023.
  • "We believe that this Senior Secured Note, along with the warrant package, is a favorable outcome to Oramed while also supporting Scilex in executing on its growth opportunities."

Scilex Holding Company Enters into Non-Binding Term Sheets for the Purchase of all of the Scilex Common Shares, Preferred Shares, and Warrants Currently Owned by Sorrento Therapeutics, Inc. and is Declared the New Successful Bidder

Retrieved on: 
Wednesday, September 13, 2023
Transfer, PALO, United States bankruptcy court, Documentation, Hearing, OTC, Therapy, Chronic pain, Bankruptcy, Security (finance), Note, Oramed

After a hearing before the Bankruptcy Court in Sorrento’s bankruptcy cases on September 12, 2023, such court entered a final order approving the Scilex Term Sheets.

Key Points: 
  • After a hearing before the Bankruptcy Court in Sorrento’s bankruptcy cases on September 12, 2023, such court entered a final order approving the Scilex Term Sheets.
  • The Scilex Term Sheets are subject to entry into definitive documentation relating thereto.
  • The transactions contemplated by the Scilex Term Sheets are expected to close on or about September 19, 2023.
  • Approximately four years ago, we successfully merged Semnur Pharmaceuticals and Scilex Pharmaceuticals into Scilex Holding Company.

Sorrento Therapeutics, Inc. Announces Auction for Sale of Scilex Securities and Bankruptcy Court Approval of Stalking Horse Bid

Retrieved on: 
Tuesday, August 8, 2023
Bankruptcy, United States Bankruptcy Court for the Southern District of New York, Therapy, Moelis & Company, Debtor, Infection, Cancer, Latham & Watkins, Sale, Title 11 of the United States Code, SAN, OTC, United States bankruptcy court, Auction, Oramed

The stalking horse agreement with Oramed is subject to an auction and the submission of higher or otherwise better offers.

Key Points: 
  • The stalking horse agreement with Oramed is subject to an auction and the submission of higher or otherwise better offers.
  • Any parties interested in bidding for the Scilex Stock should email Sorrento's investment banker (Moelis & Company LLC) as soon as possible to indicate their interest and discuss required bid materials .
  • To the extent Sorrento receives any qualified bids that are higher or otherwise better than Oramed's bid by August 11, 2023, at 5:00 p.m. (ET), Sorrento will hold an auction for the Scilex Stock on August 14, 2023.
  • Latham & Watkins LLP and Jackson Walker LLP are serving as legal counsel to Sorrento.

Oramed to Present at the 83rd American Diabetes Association Conference

Retrieved on: 
Tuesday, June 20, 2023
American Diabetes Association, Type 2 diabetes, San Diego Convention Center, Type 2, NASH, Patient, Cirrhosis, TASE, Pharmaceutical industry, Oramed

NEW YORK, June 20, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ( www.oramed.com ), announced today that it has been selected to present an oral abstract presentation at the American Diabetes Association's 83rd Scientific Sessions, taking place between June 23-26, 2023 in San Diego, California.

Key Points: 
  • NEW YORK, June 20, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ( www.oramed.com ), announced today that it has been selected to present an oral abstract presentation at the American Diabetes Association's 83rd Scientific Sessions, taking place between June 23-26, 2023 in San Diego, California.
  • The presentation will include an overview of data from Oramed's Phase 2 oral insulin trial for the treatment of NASH as well as discuss how oral insulin was found to potentially reduce liver fibrosis and fat in patients with NASH and Type 2 Diabetes.
  • The oral presentation will be delivered in-person at the San Diego Convention Center in San Diego, California and will also be published on the journal Diabetes® website.

Oramed to Present at Novel Therapies for Type 2 Diabetes & Obesity Summit

Retrieved on: 
Thursday, May 18, 2023
Novel, Obesity, TASE, Pharmaceutical industry, Oramed

NEW YORK, May 18, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ( www.oramed.com ), announced today that Chief Scientific Officer Dr. Miriam Kidron will deliver an in-person presentation at the Novel Therapies for Type 2 Diabetes & Obesity Summit in Boston, MA, on May 31, 2023.

Key Points: 
  • NEW YORK, May 18, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) ( www.oramed.com ), announced today that Chief Scientific Officer Dr. Miriam Kidron will deliver an in-person presentation at the Novel Therapies for Type 2 Diabetes & Obesity Summit in Boston, MA, on May 31, 2023.
  • The presentation will include an overview of Oramed's oral delivery technology as well as insights from the Company's recent Phase 3 oral insulin clinical trials.

Oramed Announces that its Chinese Partner, HTIT, has Successfully Completed a Phase 3 Oral Insulin Clinical Trial and Submitted a Marketing Authorization Application in China

Retrieved on: 
Monday, May 15, 2023
CFDA, Patient, National Medical Products Administration, TASE, Body mass index, BMI, NMPA, Human, Pharmaceutical industry, Oramed, Glycated hemoglobin

NEW YORK, May 15, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com) announced today that Hefei Tianhui Biotechnology Co. Ltd. (HTIT), a strategic partner of Oramed, has successfully completed its Phase 3 trials of oral insulin in type 2 diabetes in China under a differentiated study protocol.  HTIT is now moving toward regulatory approval and has submitted the data to the National Medical Products Administration (NMPA, formerly the CFDA).

Key Points: 
  • HTIT is now moving toward regulatory approval and has submitted the data to the National Medical Products Administration (NMPA, formerly the CFDA).
  • Oramed has recently completed an analysis of the data from its U.S.-based, Phase 3 trial, ORA-D-013-1, for the treatment of type 2 diabetes.
  • Phase 3 trial aligns with the positive data from the HTIT trial in China.
  • Based on these findings, Oramed is exploring ways to move forward with its oral insulin product," Mr. Kidron added.

Oramed Appoints Ben Shapiro to its Board of Directors

Retrieved on: 
Monday, May 1, 2023
The Daily Wire, The Ben Shapiro Show, UCLA, Harvard Law School, Security (finance), Management, The New York Times, Oramed

NEW YORK, May 1, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP) ("Oramed" or the "Company") ( www.oramed.com ) announced today the appointment of Mr. Benjamin Shapiro to its Board of Directors effective May 1, 2023.

Key Points: 
  • NEW YORK, May 1, 2023 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP) ("Oramed" or the "Company") ( www.oramed.com ) announced today the appointment of Mr. Benjamin Shapiro to its Board of Directors effective May 1, 2023.
  • The Board determined that Mr. Shapiro qualifies as an independent director under the listing rules of the Nasdaq Capital Market.
  • Ben Shapiro is a successful entrepreneur and business professional who co-founded The Daily Wire, a successful, industry leading, international media outlet in June 2015.
  • I am happy to join Oramed's Board in what I am sure will be an exciting future for Oramed and its shareholders."