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Oramed Pharmaceuticals Announces Withdrawal of Proposed Underwritten Public Offering



 Oramed Pharmaceuticals Announces Withdrawal of Proposed Underwritten Public
                                   Offering

PR Newswire

JERUSALEM, June 21, 2013

JERUSALEM, June 21, 2013 /PRNewswire/ --

Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP) (http://www.oramed.com), a
developer of oral drug delivery systems, announced today that it has withdrawn
the previously announced proposed underwritten public offering of its common
stock due to market conditions.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.

About Oramed Pharmaceuticals

Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery
solutions for drugs and vaccines currently delivered via injection.
Established in 2006, Oramed's technology is based on over 30 years of research
by top research scientists at Jerusalem's Hadassah Medical Center. Oramed is
seeking to revolutionize the treatment of diabetes through its proprietary
flagship product, an orally ingestible insulin capsule (ORMD-0801) currently
initiating Phase 2 clinical trials under an Investigational New Drug
application with the U.S. Food and Drug Administration, and with its oral
exenatide capsule (ORMD-0901; a GLP-1 analog), with trials on healthy
volunteers (Phase 1b) and diabetic patients (Phase 2a) underway. The company's
corporate and R&D headquarters are based in Jerusalem.

For more information, the content of which is not part of this press release,
please visit  http://www.oramed.com

Forward-looking statements: This press release contains forward-looking
statements. For example, we are using forward-looking statements when we
discuss revolutionizing the treatment of diabetes with our products, or when
we discuss our clinical trials. These forward-looking statements are based on
the current expectations of the management of Oramed only, and are subject to
a number of factors and uncertainties that could cause actual results to
differ materially from those described in the forward-looking statements,
including the risks and uncertainties related to the progress, timing, cost,
and results of clinical trials and product development programs; difficulties
or delays in obtaining regulatory approval or patent protection for our
product candidates; competition from other pharmaceutical or biotechnology
companies; and our ability to obtain additional funding required to conduct
our research, development and commercialization activities. In addition, the
following factors, among others, could cause actual results to differ
materially from those described in the forward-looking statements: changes in
technology and market requirements; delays or obstacles in launching our
clinical trials; changes in legislation; inability to timely develop and
introduce new technologies, products and applications; lack of validation of
our technology as we progress further and lack of acceptance of our methods by
the scientific community; inability to retain or attract key employees whose
knowledge is essential to the development of our products; unforeseen
scientific difficulties that may develop with our process; greater cost of
final product than anticipated; loss of market share and pressure on pricing
resulting from competition; laboratory results that do not translate to
equally good results in real settings; our patents may not be sufficient; and
final that products may harm recipients, all of which could cause the actual
results or performance of Oramed to differ materially from those contemplated
in such forward-looking statements. Except as otherwise required by law,
Oramed undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. For a more
detailed description of the risks and uncertainties affecting Oramed,
reference is made to Oramed's reports filed from time to time with the
Securities and Exchange Commission.

Company Contact:

Oramed Pharmaceuticals
Aviva Sherman
Mobile: +972-54-792-4438
Office: +972-2-566-0001       
Email: aviva@oramed.com 

SOURCE Oramed Pharmaceuticals Inc.
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