November 18, 2021 | 9:42 am
Genomma Lab announced a strategic alliance with Oravax, a subsidiary of the Israeli pharmaceutical company Oramed, to continue clinical trials and carry out the eventual commercialization of its oral vaccine against COVID-19 in Mexico.
In a statement sent to the Mexican Stock Exchange (BMW), Genomma Lab indicated that it will contribute resources to develop the clinical tests that allow the Oravax COVID-19 vaccine to be put on sale in the country and promote the deployment of the immunizer in the rest of Latin America.
The companies will exchange shares for an amount equivalent to 20 million dollars, at an exchange price that will be calculated based on the average closing of the respective shares of the companies in the last 15 days. Additionally, Genomma will participate in a future investment in Oravax.
At 8:30 am (Mexico City time), Genomma Lab shares rose 1.53%, to 19.17 pesos on the BMV; while those of Oramed fell 0.44%, to 27.13 dollars in the Nasdaq, according to data from Investing.com.
The Oravax oral vaccine is made up of three specific proteins that resemble various components of the virus (SARS CoV-2), including some proteins that are less susceptible to mutation, so this oral vaccine candidate may potentially be more effective for protect against current and future variants of COVID-19.
According to the statement, if approved by the authorities, it could be administered independently or as a booster to previously vaccinated people. Therefore, the oral method of administration can result in greater safety, reducing possible side effects.
Oravax VLP vaccine technology is highly scalable for manufacturing and can be easily transferred for large-scale logistics distribution, as there is no need for cold chain storage.
Oravax clinical trials in South Africa
At the end of October, Oramed obtained the authorization of clinical trials of its oral vaccine Oravax against COVID-19, which will begin this month in South Africa, in addition to the fact that the vaccine would be easily distributed and could be administered without the need for a health does, according to Antena 3 Noticias.
According to the CEO of the pharmaceutical company Oramed, Nadav Kidron, “The oral vaccine candidate against COVID-19 could offer a potential solution to the pandemic, either as a booster or for the unvaccinated.” As it is a vaccine in pill format and does not need special conditions, its distribution is fast.
The South African Health Products Regulatory Authority began enrolling patients for the first phase of the clinical trial; In addition, it will also be held in Tel Aviv, although the Israeli Ministry of Health has not yet given the go-ahead.
Kidron has explained that in many countries, especially in Africa, citizens prefer to take a pill rather than receive an injection, that is, it could be a safe and effective solution for places where immunization rates are low.
Oramed’s primary goal is to rapidly advance phase 1 of the South African clinical trial. In this way, phases 2 and 3 will be reached earlier and approval for emergency use can be obtained.