The U.S. Patent and Trademark Office has issued a patent term adjustment (PTA) extending the patent term by 18 months for Oramed Pharmaceuticals’ (NASDAQ:ORMP) patent titled, “Methods and Compositions for Oral Administration of Proteins.”
Oramed had previously received an allowance on the patent. The PTA increases the patent term from the standard 20 years to 21 years and six months, extending the term through March 2028.
The patent addresses Oramed’s platform technology, which underlies its products, including ORMD-0801, an orally ingestible insulin capsule.
In a statement, CEO, Nadav Kidron, said the extension further enhances the value of Oramed’s intellectual property in the world largest single diabetes market.