Oramed Pharmaceuticals Commences Phase 1B Clinical Trials

Tests Its Oral Insulin Capsule on Healthy Human Volunteers
JERUSALEM--(Business Wire)--Oramed Pharmaceuticals, Inc. (OTCBB: ORMP -
http://www.oramed.com), a developer of oral delivery systems, has
begun Phase 1B clinical trials for its oral insulin capsule. This
Phase 1B trial is focused on finding the optimal dosage for the
formulation of Oramed's proprietary oral insulin delivery technology.
The study utilizes healthy human volunteers in order to determine the
final formulation of the oral insulin product. This trial is a
continuation of Oramed's successfully completed Phase 1A trials, which
were conducted on healthy volunteers

"Oramed is excited to move forward with our lead drug candidate,"
commented Nadav Kidron, Chief Executive Officer of Oramed. "This phase
of the trial, following the successful completion of our Phase 1A
trials, is a significant milestone for Oramed and for our oral insulin
product. We are pleased to be one step closer to our goal of offering
the many diabetes patients around the world a viable oral insulin
solution."

About Oramed Pharmaceuticals

Oramed Pharmaceuticals' is an Israeli-based company focused on the
development of oral delivery solutions based on proprietary
technology. Diabetes is one of the most rapidly growing diseases in
the world and is one that requires constant and often unpleasant
monitoring and drug therapy regimens. Oramed is currently developing
an orally ingestible insulin capsule for the treatment of diabetes.
The Company is also pursuing the development of oral delivery
solutions for other drugs and vaccines. For more information please
visit our website at: www.oramed.com.

Legal Notice and Forward Looking Statements For Oramed
Pharmaceuticals:

Certain of the statements contained in this press release,
including the statement "the Company's goal is for the completion of
formal phase I studies by the 3rd quarter of 2008", 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.
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.

Oramed Pharmaceuticals, Inc
Investor Relations:
Erika Moran
or
Public Relations:
Lynn Granito, Steve Melfi
212-825-3210
info@oramed.com
www.oramed.com

Copyright Business Wire 2008