Wuzhou Zhongheng invests $52 million in Israel's Oramed Pharma

6 July 2015

China-based Wuzhou Zhongheng Group (SHA: 6002532) has paid $52 million for a 10% stake in Oramed Pharma (Nasdaq: ORMP) and China rights to its two diabetes treatments, reports China Bio Today.

Oramed, based in Israel, develops oral versions of injected protein drugs. Details of the deal were not disclosed. In December 2014, Zhongheng invested $5 million in Oramed for a 7% stake in the company, which suggests the China rights to the diabetes treatments are worth over $40 million.

Recently, Oramed announced plans to begin a US Phase IIb trial of its oral insulin capsule product ORMD-0801.

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