O’Melveny Represents Tianhui Biotech in NewCo Model Investment with Oramed
February 14, 2025
FOR IMMEDIATE RELEASE
SHANGHAI—February 14, 2025—O’Melveny represented Tianhui Biotech Co., Ltd. (“Tianhui Biotech”) in a series of agreements with Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (“Oramed”). Under the agreements, both parties will invest in the establishment of a new joint venture, OraTech Pharmaceuticals Inc (“OraTech”), in the United States. Oramed is a biopharmaceutical company headquartered in Israel and listed on the NASDAQ. Tianhui Biotech will invest in the protein oral delivery technology and oral insulin related assets spun off by Oramed, utilizing the popular NewCo model. The total investment of the joint venture is expected to be US$75 million and it plans to go public in the United States. The investment involved a series of complex transactions including IP licensing and supply cooperation.
Tianhui Biotech will gain control of OraTech upon closing. OraTech will hold the global marketing rights to Oramed’s POD™ protein oral delivery technology, and utilize Tianhui Biotech’s capsule production and cost-effective manufacturing. OraTech will focus on the oral delivery technology and product development of protein drugs. It will also advance the registration of oral insulin in the United States and other countries, among other key initiaves.
The O’Melveny team was led by partners Ke Geng and Ke Zhu, with support from senior legal consultant Aaron Xin. Counsel Sabrina He advised on U.S. securities law matters.
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Contact:
Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com
Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com
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