July 10, 2018 | Israeli clinical-stage pharmaceutical company Oramed announced last week it had raised $18.1 million through the closing of a registered direct offering with several healthcare-related investors. The Jerusalem-based developer of oral drug delivery systems closed its direct offering by selling the funds in shares and warrants in order to purchase shares at a combined price of $6.25 per share and related warrant, a press release said. The company is expected to use the funds raised for clinical trials.
Founded in 2006, Oramed is perhaps best known for its orally ingestible insulin capsule, which seeks to revolutionize the treatment of Type 1 and Type 2 diabetes. Its Protein Oral Delivery technology is based on over 30 years of research by top scientists at Jerusalem’s Hadassah Medical Center.