Press release
MyMD Pharmaceuticals Investment Company Oravax Medical and Genomma Lab Announce Joint Venture to Develop and Commercialize Oral COVID-19 Vaccine in Mexico and Drive Business Development in Latin America
Millions of people in the region could benefit from the COVID-19 vaccine candidate- faster, easier, without the cold chain: The Oravax Oral Vaccine The new
About this update from Oramed Pharmaceuticals Inc.
[{"type":"text","content":"\nMillions of people in the region could benefit from the COVID-19 vaccine candidate- faster, easier, without the cold chain: The Oravax Oral Vaccine\n\nThe new partnership builds on the respective strengths of Oravax Medical and Genomma Lab to create compelling value for both companies and their stakeholders\n\n BALTIMORE--(BUSINESS WIRE)--\nMyMD Pharmaceuticals, Inc. (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical-stage pharmaceutical company committed to extending healthy lifespan, announced today that its investment company Oravax Medical Inc. (“Oravax”), partially owned with its majority partner Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (“Oramed”), has established a 50–50 joint venture with Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB), a leading pharmaceutical and personal care products company in Latin America with an expanding international presence, to develop and commercialize Oravax’s oral COVID‑19 vaccine candidate in Mexico.\n\nNadav Kidron, Oramed CEO and Oravax Chairman, and Rodrigo Herrera, Genomma Lab Chairman, will hold a joint press event today, Thursday, November 18, 2021 at 11:00 am EST. The live press event will be available via Zoom.\n\nJosh Silverman, Chairman of the Board of MyMD, commented, “We believe Oravax’s vaccine technology for COVID-19 is best in its class, and the opportunities for commercializing the product are far-reaching. The global COVID-19 vaccine market is expected to grow to US$25 billion by 2024, and Latin America represents a substantial part. Genomma Lab’s vast network and market presence in Latin America is expected to be of enormous value for the roll-out of Oravax’s vaccine throughout the region.\n\n“In addition to Latin America, Oravax is taking great strides in other regions of the world,” Mr. Silverman continued. “Oravax has received clearance from the South African Health Products Regulatory Authority to begin patient enrollment in a first-in-human clinical trial for its oral COVID-19 vaccine, and preparations to begin the trial are underway. Oravax is also preparing to commence clinical trials in Israel.”\n\nIn a statement, Oramed CEO and Oravax Chairman Nadav Kidron said, “We are very excited to be partnering with Genomma. The synergies between our respective companies’ core competencies made it clear that the combination of our particular strengths represents ...