ORMP News & Events

Lifeward (LFWD) announced that it has entered into a transformative strategic partnership with Oramed Pharmaceuticals (ORMP). The transaction, which has received unanimous approval from Lifeward's board of directors and is subject to shareholder approval, includes Lifeward integrating Oramed's proprietary protein oral delivery technology and Oramed acquiring up to a 49.99% equity ownership in Lifeward. The investment structure provides Lifeward with access to up to approximately $47 million of capital through equity, convertible notes, milestone-based funding, and warrant coverage. This capital framework is designed to support Lifeward's path to profitability while enabling selective investment in high-value innovation. Under a clinical trial management agreement, Oramed will retain responsibility for managing and funding the anticipated POD clinical program. This structure allows Lifeward to maintain operational focus on profitability and cash generation, while retaining exposure to the potential upside of a large-scale biotech opportunity.

Oramed (ORMP) and Lifeward (LFWD) signed binding agreements for a strategic transaction between Oramed, Lifeward and a certain accredited investor. The transaction includes the transfer to Lifeward of Oramed's proprietary Protein Oral Drug POD delivery technology and Oramed obtaining 49.9% beneficial ownership interest in Lifeward upon the satisfaction of certain terms and conditions. In addition, Lifeward to issue $10M in senior secured convertible notes in a private placement, of which Oramed to invest $9M, and an additional milestone-based $10M senior secured convertible note, of which Oramed will invest $9M, each with 100% warrant coverage. The transaction allows Oramed to significantly increase its ownership stake in Lifeward upon full conversion of the notes and exercises of the warrants. Upon consummation of the transaction, Lifeward will acquire Oramed's complete POD technology. Under a clinical trial management agreement, Oramed is expected to manage the upcoming anticipated trial. Oramed will receive 4% on net sales of the ReWalk franchise for up to 10 years. The transaction is contingent upon certain customary closing conditions, including, among others, the receipt of the requisite approval of Lifeward's shareholders, and with respect to the additional notes, the achievement of certain revenue based or share price based milestones.

Oramed's Board of Directors has approved a cash dividend payment of 25c per share to reward shareholders. The dividend will have an ex-dividend date of January 16, with disbursement scheduled for January 26. The dividend is expected to result in an aggregate distribution of approximately $10.5M based on the current number of shares outstanding. The dividend will be funded with surplus capital.

Oramed Pharmaceuticals announced it has received an $18M payment from Scilex Holdings, representing full satisfaction of obligations under the Option Agreement. This payment brings Oramed's current returns to $118M on its original $99.5M Scilex investment, with additional returns expected from the remaining convertible notes, warrants, and royalties. Oramed retains a $27M note and a $12M convertible note with Scilex, convertible at Oramed's option into Scilex equity at $36 per share. If not converted, the note will be repaid by Scilex in quarterly installments through October 2026. Oramed also maintains its warrant position as well as a nine-year royalty interest in Scilex products.