Oramed Pharmaceuticals

Oramed retains the intellectual property for its oral insulin candidate and has not formally terminated the program, but clinical development has been deprioritized. The firm announced in January 2023 that its Phase 3 trial missed its primary endpoint, and management subsequently shifted focus to the company's investment portfolio and its controlling stake in Scilex. No new oral insulin trials are currently enrolling, per public disclosures.

In 2021, Oramed committed $600 million to a joint venture with South Korea's NHN Corporation, acquiring a majority stake in what became a publicly traded digital-content and cloud-services company. Oramed consolidates this entity's financials, meaning the joint venture's revenue and earnings flow directly into Oramed's reported results. The structure gives Oramed operational control, though NHN retains a significant minority interest.

Oramed does not operate a fund or raise outside capital, so it does not source deals through the traditional private-equity or venture-capital funnel. The 2021 NHN joint venture originated through a direct relationship between CEO Nadav Kidron and NHN's leadership. The firm has stated it will pursue additional control-oriented investments, but it has not disclosed a dedicated sourcing team or intermediary network.

Nadav Kidron, as CEO and a board member, is the central figure in Oramed's capital-allocation decisions. The board of directors formally approves material transactions, and the 2021 pivot from biotech to investment holding was unanimously authorized by the board. There is no separate chief investment officer or investment committee disclosed in public filings.

No. Oramed is a publicly traded Nasdaq-listed company that reports under SEC rules applicable to operating businesses. It does not manage third-party capital, charge management fees, or function as a family office for any single wealth creator. Its structure is closer to a publicly traded holding company with a concentrated equity portfolio.