The funds will be used to support R&D and clinical studies on the company’s oral insulin capsule and oral GLP-1 analog from December 2011 to November 2012.
Oramed Pharmaceuticals CEO Nadav Kidron said, "This grant will greatly assist in covering costs for our upcoming FDA-approved Phase 2 trials on our oral insulin, and aid in the advancement of bringing our breakthrough technology to market."
The Office of the Chief Scientist at the Ministry of Industry, Trade and Labour of Israel has awarded the grant.