Source: Oramed Pharmaceuticals, Inc. Oramed Pharmaceuticals Teams up with OnQ Consulting Wednesday January 30, 8:34 am ET Biotechnology Company Signs Agreement with South African CRO to Conduct Phase 1 Tria

Oramed Pharmaceuticals Teams up with OnQ

Wednesday January 30, 8:34 am ET

Biotechnology Company Signs Agreement with South African CRO

to Conduct Phase 1 Trials with Rectal Application of Insulin

JERUSALEM--(BUSINESS WIRE)--Oramed Pharmaceuticals, Inc.

(ORMP.OB, www.oramed.com) announced today the signing of an agreement with OnQ

consulting, a clinical research organization (CRO) located in Johannesburg,

South Africa, to conduct Phase 1 clinical trials for its rectal application of

insulin. These studies are intended to assess the safety and feasibility of

Oramed s product, that the company is developing using its cutting-edge

technology. The product is targeted towards individuals diagnosed with diabetes

who are unable, or find it difficult, to receive insulin via injection. These

trials are scheduled to be completed by the third quarter of 2008.

About Oramed Pharmaceuticals, Inc.:

Oramed Pharmaceuticals is an Israel-based company that focuses

on the development of oral delivery solutions based on proprietary technology.

Diabetes, one of the most rapidly growing diseases in the world, requires

constant and an often unpleasant monitoring and drug therapy regimen. Oramed is

concurrently developing an oral insulin capsule for the treatment of diabetes,

and has recently commenced Phase 1B of its clinical trials. The company is also

pursuing the development of oral delivery solutions for other drugs and

vaccines. For more information on Oramed Pharmaceuticals please visit our

website at www.oramed.com.

About OnQ Consulting:

OnQ Consulting is a full service CRO based in South Africa.

Started nine years ago, OnQ offers services such as protocol conception and

design, project management, monitoring, pharmacoeconomics and pharmacovigilance,

data management, biostatistical services, and report writing. OnQ Consulting has

an established client base from the CRO, pharmaceutical, NGO and biotech

sectors, and is able to conduct clinical trials internationally through

reputable collaborations. For more information, please visit their website at

Forward looking statements

Some of the statements contained in this press release,

including the statement, These trials are scheduled to be completed by June

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

Source: Oramed Pharmaceuticals, Inc.