Lifeward Ltd. entered into a strategic investment and partnership agreement with Oramed Pharmaceuticals Inc. on January 13 2026 that transfers Oramed’s proprietary Protein Oral Delivery (POD™) platform to Lifeward and gives Oramed the option to acquire up to 49.99% of Lifeward’s equity once certain milestones are met.
The financing package is structured for a maximum of $47 million, comprising equity, senior secured convertible notes, milestone‑based convertible notes, and warrant coverage. Oramed is expected to contribute $18 million through two $10 million convertible notes, while the remaining $29 million will be raised through equity and warrants. The deal is designed to shore up Lifeward’s cash position, which has been under pressure with a negative EBITDA of $16.58 million over the past twelve months and a $26 million revenue run‑rate from its ReWalk® and AlterG® product lines.
Strategically, the partnership positions Lifeward as a diversified biomedical innovator. By adding Oramed’s POD™ technology—capable of protecting and enhancing the absorption of orally delivered proteins—Lifeward can enter the high‑growth oral‑insulin market, a segment that represents a sizable portion of the $600 billion injectable‑drug market. The move also provides Lifeward with a new revenue stream and a potential catalyst for profitability, while giving Oramed a foothold in a proven medical‑device business that generates steady cash flow.
Financial context underscores the urgency of the deal. Lifeward’s revenue grew from $13.9 million in 2023 to $25.7 million in 2024, and reached $26 million over the last four quarters, yet the company’s cash burn has accelerated, reflected in the $16.58 million EBITDA loss. Oramed, by contrast, posted a nine‑month net income of $65 million in 2025, up from a $6.1 million loss in the same period a year earlier, indicating a strong financial position to support the investment.
Management emphasized the strategic fit and financial relief. Lifeward CEO Mark Grant said the partnership “provides the capital and technology needed to achieve profitability with our proven ReWalk® and AlterG® product lines while opening significant growth opportunities through the acquisition of Oramed’s POD™ technology.” Oramed CEO Nadav Kidron noted that the deal “retains substantial exposure to the oral delivery platform while gaining meaningful participation in a proven revenue‑generating medical‑robotics business.” The market reacted positively, with Lifeward’s shares rising 21.5% in pre‑market trading on NasdaqCM, reflecting investor confidence in the combined platform and the capital infusion.
The long‑term implication is a broadened product portfolio and a new pathway into the oral‑insulin market, potentially transforming Lifeward’s revenue mix and moving the company toward profitability. The partnership also signals Oramed’s continued commitment to its oral delivery platform while diversifying its own portfolio, creating a mutually reinforcing relationship that could accelerate both companies’ growth trajectories.
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