Lifeward enters $47 million strategic partnership with Oramed

Lifeward Ltd. (NASDAQ: LFWD) announced a strategic partnership with Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) that includes up to $47 million in funding and the acquisition of Oramed's protein oral delivery technology platform.

Under the agreement, which requires shareholder approval, Oramed will acquire up to 49.99% equity ownership in Lifeward through ordinary shares, prefunded warrants, and additional warrants worth up to $7 million. The funding structure includes $10 million in convertible notes from Oramed and another investor, with an additional $10 million triggered upon achieving revenue or share price milestones.

Lifeward will acquire Oramed's POD technology, designed to convert injectable biological therapies into oral medications. The technology targets the global injectable drug delivery market, with initial applications in diabetes treatment. ORMD-0801, the lead drug candidate, completed a Phase 2b trial that met its primary endpoint for HbA1c reduction, though a subsequent Phase 3 study did not meet its primary endpoint.

Oramed will retain responsibility for funding and managing clinical development of the POD platform, including a planned 60-patient clinical trial. Oramed will also receive 4% of net sales from Lifeward's ReWalk franchise for up to 10 years.

"This transaction, if approved, is expected to provide us with the financial resources to reach profitability with our proven ReWalk and AlterG product lines while simultaneously unlocking significant growth opportunities," said Mark Grant, Lifeward's CEO.

The transaction has received unanimous approval from Lifeward's board of directors and is subject to closing conditions including shareholder approval.

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