Lifeward has completed a roughly $47-million deal to acquire a protein drug delivery technology from New York-based Oramed Pharmaceuticals, issuing equity and other securities representing nearly half of the Marlborough-based company.
Lifeward issued a combination of ordinary shares, warrants, and convertible notes to purchase Oramed subsidiary Oratech Pharmaceuticals, according to a Wednesday filing with the U.S. Securities and Exchange Commission. Oratech’s technology protects proteins in medications and enhances their absorption by the body’s intestinal wall.
In January, Lifeward said it planned to sell up to 49.99% of the company for approximately $47 million through forms of payment such as equity, convertible notes, and milestone-based funding.
Lifeward issued 2.26 million shares, 1.3 million warrants, and $10 million in convertible notes in exchange for Oratech. Lifeward did not disclose the total value of the combined payment, the percentage of the company sold, or how much funding it now has access to. WBJ has reached out to Lifeward for further details.
The company’s shareholders approved the exchange, according to a March 12 filing with the SEC.
“We are building a disciplined, diversified biomedical innovation company that we believe can deliver both near-term financial performance and meaningful long-term growth opportunities for shareholders,” Mark Grant, president and CEO of Lifeward, said in a March 12 press release.
Established in 2001 as ReWalk Robotics, Lifeward generated $22.03 million in revenue in fiscal 2025, down from $25.66 million in fiscal 2024.
Lifeward specializes in mobility devices for those with disabilities affecting the lower limbs, such as spinal cord injuries and multiple sclerosis. The manufacturer produces exoskeletons, cycling machines, and anti-gravity treadmills.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
