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Oramed to Raise $4,600,000 in Registered Direct Offering
Date:7/10/2013

JERUSALEM, July 10, 2013 /PRNewswire/ --

Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP), a developer of oral drug delivery systems, today announced it has entered into definitive agreements with investors to purchase an aggregate of 657,144 shares of common stock at a price of $7.00 per share in a registered direct offering. The offering is expected to close on or about July 16, 2013, subject to the satisfaction of customary closing conditions.

Oramed intends to use the net proceeds from this offering for expenses related to its clinical trials, research and product development activities, and for general corporate purposes, including general working capital purposes.

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

Maxim Group LLC is acting as a co-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 http://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 inject
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SOURCE Oramed Pharmaceuticals Inc.
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