JERUSALEM, July 10 /PRNewswire-FirstCall/ -- Oramed Pharmaceuticals, Inc. (OTCBB: ORMP.OB) (http://www.oramed.com/), a developer of oral delivery systems, announced today that Nobel Prize Laureate Professor Avram Hershko has joined Oramed's Scientific Advisory Board, enhancing the Company's talented and experienced scientific team. Professor Hershko earned his MD and PhD from the Hebrew University-Hadassah Medical School of Jerusalem and did a post-doctoral fellowship with Gordon Tomkins at the University of San Francisco. He joined the faculty of the Technion, Israel Institute of Technology, and was appointed professor in 1980. He currently serves as Distinguished Professor in the Unit of Biochemistry in the B. Rappaport Faculty of Medicine of the Technion. His main research interests concern the mechanisms by which cellular proteins are degraded, a formerly neglected field of study. Through their research, Professor Hershko and his colleagues proved that cellular proteins are degraded by a highly selective proteolytic system. Professor Hershko was awarded the Nobel Prize in Chemistry in 2004 jointly with his former PhD student Aaron Ciechanover and their colleague Irwin Rose, for the discovery of ubiquitin-mediated protein degradation. His many honors include the Israel Prize for Biochemistry (1994), the Gardner Award (1999), the Lasker Prize for Basic Medical Research (2000), the Wolf Prize for Medicine (2001) and the Louisa Gross Horwitz Award (2001). He is a member of the Israel Academy of Sciences (2000) and a Foreign Associate of the US Academy of Sciences (2003). "Professor Hershko is one of the world's most highly respected scientists and we are honored that he is joining our Scientific Advisory Board," said Oramed CEO Nadav Kidron. "His expertise is precisely in the field in which our technology is used, and having him as part of our team will help us expand our core technology platform to a wider array of products." "It is a privilege to join Oramed's talented scientific advisory team and I look forward to helping the Company make a significant difference for millions of diabetics around the world," said Professor Hershko. Professor Hershko is replacing Itamar Raz, MD, who will be leaving the board due to time constraints. About Oramed Pharmaceuticals Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule currently in phase 2 clinical trials. Established in 2006, Oramed's technology is based on over 25 years of research by top research scientists at Jerusalem's Hadassah Medical Center. The Company's corporate and R&D headquarters are based in Jerusalem. For more information, please visit http://www.oramed.com/ Forward-looking statements Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such 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 for our product candidates; competition from other pharmaceutical or biotechnology companies; and the company's ability to obtain additional funding required to conduct its research, development and commercialization activities. Please refer to the company's filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the company to differ materially from those expressed or implied in such forward looking statements. The company undertakes no obligation to update or revise any forward-looking statements. Company and Investor Relation Contacts: Oramed Pharmaceuticals Eric Rosenberg Cell: +972-54-566-7713 Office +972-2-566-0001 Email: Media Contacts: Ruder Finn Israel for Oramed Matthew Krieger Cell: +972-54-467-6950 Office: +972-2-589-2003 Email: DATASOURCE: Oramed Pharmaceuticals Inc. CONTACT: Company and Investor Relation Contacts: Oramed Pharmaceuticals, Eric Rosenberg, Cell: +972-54-566-7713, Office +972-2-566-0001, Email: ; Media Contacts:, Ruder Finn Israel for Oramed, Matthew Krieger, Cell: +972-54-467-6950, Office: +972-2-589-2003, Email:

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