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Oramed Pharmaceuticals Inc. (ORMP.OB) Awarded a NIS 3.1 Million Grant From the Israeli Office of the Chief Scientist


8/4/2009 8:34:53 AM

JERUSALEM, Israel, August 4 /PRNewswire-FirstCall/ -- Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB - News; http://www.oramed.com), a developer of oral delivery systems, today reported that its wholly owned Israeli subsidiary, Oramed Ltd., was awarded a government grant amounting to a total net amount of NIS 3.1 million ($828,000), from the Office of the Chief Scientist (OCS) at the Ministry of Industry, Trade and Labor of Israel. This grant was awarded as government participation in research and development expenses for the period of February 2009 to January 2010. The grant is subject to return according to the terms determined by the OCS.

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