Date: 2012-12-11
Type of information: Private placement
Company: Oramed Pharmaceuticals (Israel)
Investors:
Amount: $5.6 Million (€4.3 million)
Funding type: private placement
Planned used: The funds will be used to fund clinical development of its oral insulin capsule in the U.S. The company intends to file an IND (Investigational New Drug) application for the trial with the FDA in the upcoming weeks.
Others: Oramed Pharmaceuticals, a developer of oral drug delivery systems, has completed a capital raise of $4,973,075, net of finder\'s fee, priced at $0.37 per unit. Each unit includes one share of stock. Unit holders were also issued one warrant for each two shares of stock purchased, at an exercise price of $0.50 per share for five years. A total of 13,647,866 shares of common stock and 6,823,938 warrants were issued. The Company also issued 13,514 shares of common stock and 6,757 common stock purchase warrant, and will also issue 152,939 shares of common stock and 76,470 common stock purchase warrant as a finder\'s fee. In addition, on October 30, 2012, the Company issued 2,390,057 shares of common stock to D.N.A Biomedical Solutions Ltd., valued at such time at approximately $628,630, for a warrant to purchase up to 21,637,611 ordinary shares of D.N.A.
Therapeutic area: Metabolic diseases
