Sinopharm affiliate licenses Oramed's insulin capsule

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) granted an affiliate of China National Pharmaceutical Group Corp. (Sinopharm) exclusive rights in Greater China to ORMD-0801, its oral capsule formulation of insulin to treat Type II diabetes. Hefei Tianhui Incubator Technologies Co. Ltd., which is part-owned by Sinopharm, will receive the license covering China, Macau and Hong Kong.

Sinopharm will make a $12 million equity investment in Oramed, which will also receive $3 million up front and $8 million in near-term payments. Oramed is eligible for an additional $26.5 million in milestones, plus 10% royalties. ...