Oramed to Transfer POD Technology to Lifeward, Receive 49.9% Stake in Company

Oramed Pharmaceuticals has agreed to transfer its Protein Oral Drug (POD) delivery technology to Lifeward in exchange for a 49.9% beneficial ownership interest in Lifeward. Lifeward will issue $10 million in senior secured convertible notes, with Oramed investing $9 million, and an additional $10 million milestone-based convertible note, with Oramed investing $9 million. Upon full conversion and warrant exercises, Oramed's ownership stake in Lifeward will increase significantly. Lifeward shares rose 21.5% to $0.77 in pre-market trading on NasdaqCM.