Singapore: The New Zealand patent office granted an approval to Oramed Pharmaceuticals for a key patent titled, 'Methods and Compositions for Oral Administration of Exenatide', covering oral exenatide compositions made using the company's technology. Oramed's portfolio now consists of three issued patents and 34 patents pending for its technologies and products.

Exenatide is a GLP-1 analogue, which is a highly effective medication for the management of type 2 diabetes (T2DM). Trials evaluating the safety and efficacy Oramed's GLP-1 analog formulation in diabetic patients are planned to commence in Q3 2012.

The physiological pathways that the drug engages in order to lower blood glucose levels generates a sparing impact on the pancreatic beta cells, blunting their gradual exhaustion. This is a typical marker of late-stage T2DM. In addition to the drug's intrinsic benefits, results with Oramed's oral exenatide formula did not induce nausea among volunteers, which is a debilitating side effect of exenatide injections.

Mr Nadav Kidron, CEO, Oramed, said that, "We are very pleased with this news regarding our third patent approval and the inclusion of New Zealand in our global patent network. This particular patent, which is the first on our oral exenatide formulation, allows Oramed to gain yet more ground in the biotechnology world. We look forward to more patents being approved in the future."