Pharmaceutical companies from Israel and Mexico have announced an oral vaccine against COVID-19 is to be marketed across Latin America shortly.
The Mexican company Genomma Lab and the Israeli pharmaceutical company Oramed have announced the formation of a strategic alliance (50/50) to develop the tests to market the drug regionally.
The Oravax vaccine is composed of three specific proteins that resemble components of the virus, including some proteins that are less susceptible to mutation, so it can potentially be more effective in protecting against current and future variants of the coronavirus was reported.
Commercialization of Oravax would begin in Mexico and later expand to the rest of Latin America, the pharmaceutical companies explained.
Genomma Lab is a leading Mexican company in the pharmaceutical and personal care industry; and Oramed, with offices in the United States and Israel, is a pioneer in oral drug delivery solutions that are usually given by injection.
“Millions of people in Latin America could benefit from the oral vaccine to prevent covid-19, in a faster and easier way, since it does not require a cold chain or vaccination centres. It is a pill that can be taken at home with a glass of water, said Nadav Kidron, CEO of Oramed and president of Oravax, a subsidiary of Oramed.
Rodrigo Herrera, Chairman of the Board of Genomma Lab, said: A vaccine in the form of a pill would allow us to reach the most isolated and vulnerable communities quickly and effectively. He added that our governments have made a great effort but the difficulty of obtaining vaccines and subsequently distributing them has been a problem.
Genomma Lab will contribute to the strategic alliance with resources to develop clinical trials and obtain emergency approval that allows the commercialization of the oral covid-19 vaccine in Mexico and the eventual deployment of the vaccines throughout Latin America.
If approved by the authorities, Oravax could be administered independently or as a booster to vaccinated people.
Also, the oral method of administration can result in greater safety by reducing possible side effects, it was explained. This oral vaccine allows us to envision a pandemic-free future, a return to our normal lives once and for all,” said Nadav Kidron.
Oramed and Genomma Lab announced their intention to enter into a stock exchange (swap) for an amount equivalent to US $ 20 million. The share exchange price will be calculated based on the average closing price of the respective shares during the last 15 trading days.
Israel was one of the countries with the fastest progress in vaccination against the coronavirus. At the end of July, the pill vaccine was announced. Oramed has been endorsed by Tel Aviv's Ichilov Hospital, it was reported.