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Oramed to Raise $15,800,000 in Registered Direct Offering

          Oramed to Raise $15,800,000 in Registered Direct Offering

PR Newswire

JERUSALEM, Dec. 24, 2013

JERUSALEM, Dec. 24, 2013 /PRNewswire/ -- Oramed Pharmaceuticals Inc.
(NASDAQCM: ORMP), a developer of oral drug delivery systems, today announced
that it has entered into definitive agreements with investors to purchase an
aggregate of 1,580,000 shares of common stock at a price of $10.00 per share
in a registered direct offering. The offering is expected to close on or about
December 31, 2013, subject to the satisfaction of customary closing
conditions.

Oramed intends to use the net proceeds from this offering for expenses
primarily related to the company's anticipated U.S. focused clinical
development of its oral insulin for type 1 and type 2 diabetes indications as
well as preclinical and clinical studies for its oral GLP-1 analog project,
and for general corporate purposes, including general working capital
purposes.

Aegis Capital Corp. is acting as sole placement agent for the offering.

This offering is being made pursuant to a shelf registration statement that
Oramed previously filed with the Securities and Exchange Commission (SEC) and
which became effective on March 22, 2013. A prospectus supplement and
accompanying base prospectus will be filed with the SEC. Electronic copies of
the prospectus supplement and accompanying prospectus relating to this
offering may be obtained from the SEC's website at www.sec.gov. or from Aegis
Capital Corp, 810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone
at 212-813-1010 or email: prospectus@aegiscap.com.

This press release is neither an offer to sell nor a solicitation of an offer
to buy any of the Company's securities. No offer, solicitation or sale will be
made in any jurisdiction in which such offer, solicitation or sale is
unlawful.

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 Protein Oral Delivery (PODTM) 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 in Phase 2 clinical trials on patients
with type 2 diabetes (T2DM) 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. Oramed is also
moving forward with clinical trials of ORMD-0801 for the treatment of type 1
diabetes. The company's corporate and R&D headquarters are based in Jerusalem.

Forward-looking statements: This press release contains forward-looking
statements. For example, we are using forward-looking statements when we
discuss the expected closing of our offering and our intended use of proceeds,
or 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 closing conditions being met for the
offering and 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.

SOURCE Oramed Pharmaceuticals Inc.

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