Lifeward’s shareholders approved a strategic partnership with Oramed Pharmaceuticals, allowing the company to integrate Oramed’s proprietary Protein Oral Delivery (POD™) technology platform while granting Oramed a significant equity stake in Lifeward. The deal is structured so that Oramed will acquire up to 49.99% of Lifeward’s equity through a combination of ordinary shares and prefunded warrants.
Under the terms of the agreement, Lifeward will issue $10 million in convertible notes with an 8% annual interest rate, with Oramed investing $9 million. A second milestone‑based convertible note of $10 million will also be issued, again with Oramed investing $9 million. The partnership provides Lifeward with potential access to up to approximately $47 million in capital from Oramed and other investors through equity, convertible notes, milestone‑based funding, and warrant coverage.
The partnership represents a strategic pivot for Lifeward, which has historically focused on medical‑device products such as ReWalk personal exoskeletons, AlterG anti‑gravity systems, and MyoCycle FES systems. By entering the biotechnology market and leveraging Oramed’s POD technology, Lifeward aims to diversify its revenue streams and address its annual free‑cash‑flow burn of roughly $17 million, thereby strengthening its long‑term financial position.
Mark Grant, President and CEO of Lifeward, said, "This is a defining moment in Lifeward's evolution. With this partnership now moving towards closing, we believe Lifeward is uniquely positioned to combine the strength of our proven medical technology platform with the long‑term potential of the POD™ oral delivery technology. 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." Grant added, "We remain focused on driving profitability across our core neuro‑rehabilitation business while selectively investing in complementary technologies that have the potential to reshape major therapeutic markets. This transaction provides the strategic foundation and financial framework to pursue that vision."
Oramed has recently demonstrated strong financial performance, reporting a pre‑tax net income of $65 million in Q3 2025, a significant turnaround from a $6.1 million loss a year earlier. The company also benefited from a $100 million cash repayment from Scilex and unrealized fair‑value gains. Oramed’s POD technology is currently being evaluated in clinical programs for diabetes, and the company had previously explored spinning off the technology into a joint venture in February 2025.
The partnership expands Lifeward’s portfolio beyond its core MedTech products while preserving operational focus on its existing business lines. By combining Lifeward’s manufacturing and distribution capabilities with Oramed’s oral delivery platform, the company positions itself to capture growth opportunities in both the medical‑device and biotechnology markets, potentially creating a diversified revenue stream that can support future profitability and innovation.
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