Oramed Pharmaceuticals Signs Agreement with Encorium Group to Commence Investigational New Drug Application



    JERUSALEM and WAYNE, Pa., June 19 /CNW/ -- Oramed Pharmaceuticals,
Inc.(OTC Bulletin Board:   ORMP), an Israeli company focused on the development
of oral delivery solutions based on proprietary technology and Encorium Group,
Inc. (Nasdaq:   ENCO), an international full service contract research
organization (CRO) that provides comprehensive clinical and drug development
solutions for pharmaceutical, biotechnology and medical device companies today
announced an agreement that is intended to expedite the development of
Oramed's lead product for treatment of diabetes mellitus. Encorium Group has
extensive worldwide experience in the drug/biologics development process for a
multitude of agents and disease conditions and specifically in diabetes,
including preclinical to post-marketing support studies.  This agreement
engages Encorium Group to assist Oramed in the design, implementation,
advancement, and oversight of a sound scientific and regulatory strategic plan
for the filing and ultimate approval of Oramed's oral insulin product on a
worldwide basis.  The initial focus of this combined effort between Oramed and
Encorium Group is to assemble the information required for the opening of an
investigational new drug application (IND) and its subsequent filing with the
FDA.
    Nadav Kidron, Chief Executive Officer for Oramed Pharmaceutical, Inc.,
stated,  "We are delighted to be working with Encorium Group, a company with a
strong track record of successfully integrating early stage development,
consulting services, and clinical trial execution for small as well as large
biopharmaceutical companies on a global basis.  We believe that by working
closely with Encorium Group, we can proactively reach our immediate goal of
filing an IND in the United States.  Subsequently, we intend to move forward
quickly to systematically evaluate the oral bioavailability of our insulin
product from the gastrointestinal tract in humans as well as evaluate the
impact of our oral formulation on blood glucose levels."
    Kenneth M. Borow, M.D., President and Chief Executive Officer for
Encorium Group, Inc. commented, "We are enthusiastic about the opportunity to
work with Oramed Pharmaceuticals.  Its oral delivery technology for insulin is
both timely and innovative.  This is especially important when considered
within the framework of a worldwide epidemic of diabetes and the trend towards
earlier use of insulin in type 2 diabetic patients.  Based on numerous in vivo
preclinical studies, Oramed Pharmaceutical's oral insulin technology is unique
and holds the promise for being of significant therapeutic benefit in the
management of diabetes.  We at Encorium Group look forward to working with
Oramed on this exciting and potentially medically important product."

    
    About Diabetes Mellitus:
    
    The incidence of diabetes has increased significantly in recent years at
least in part due to changes in obesity rates and lifestyle.  Obesity and
weight gain are leading risk factors for diabetes.  In turn, diabetes and
obesity are significant risk factors for cardiovascular disease and stroke. In
the United States, Canada, and Europe, type 2 diabetes accounts for
approximately 90 percent of all cases of diabetes. More than 6 percent of all
people between the ages of 20 and 74 years and more than 12 percent of persons
over age 40 have type 2 diabetes; these numbers continue to increase.  Insulin
is used in the treatment of patients with diabetes of all types.  The need for
insulin depends upon the balance between insulin secretion and insulin
resistance. All patients with type 1 diabetes need insulin treatment
permanently, unless they receive an islet or whole organ pancreas transplant;
many patients with type 2 diabetes will require insulin as their pancreatic
beta cell function declines over time.  Recently, there has been growing
interest in the concept of earlier treatment with insulin in patients with
type 2 diabetes.

    
    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
regimen.  Oramed is currently developing an orally ingestible soft gel 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.oramedpharma.com.

    
    About Encorium Group, Inc.:
    
    Encorium Group, Inc. is a global clinical research organization that is a
leader in the design and management of complex clinical trials and Patient
Registries for the pharmaceutical, biotechnology and medical device
industries.  The Company's mission is to provide its clients with high
quality, full-service support for their biopharmaceutical and medical device
development programs.  Encorium offers therapeutic expertise, experienced team
management and advanced technologies.  The Company has drug and biologics
development as well as clinical trial experience across a wide variety of
therapeutic areas such as diabetes, cardiovascular, vaccines, infectious
diseases, oncology, endocrinology/metabolism, gene therapy, immunology,
neurology, gastroenterology, dermatology, hepatology, women's health and
respiratory medicine.  Encorium believes that its leadership in the design of
complex clinical trials, its extensive early stage development capabilities,
its broad therapeutic expertise and commitment to excellence, and its
application of innovative technologies offer its clients a means to more
quickly and cost effectively move products through the clinical development
process.  Encorium is headquartered in Wayne, Pennsylvania with its European
base of operations in Espoo, Finland.  The Company has a geographic footprint
that includes over one billion people in North America,
Western/Central/Eastern Europe, Scandinavia, and the Baltics.  For more
information please visit our website at www.encorium.com.

    
    Legal Notice and Forward Looking Statements For Oramed Pharmaceuticals
    
    This news release contains statements, which may constitute "forward-
looking statements".  Those statements include statements regarding the
intent, belief or current expectations of Oramed Pharmaceutical Inc., and
members of our management as well as the assumptions on which such statements
are based.  Forward-looking statements in this release include: that we are
currently developing an orally ingestible soft gel insulin capsule for the
treatment of type 1 and 2 diabetes; that we are pursuing the development of
oral delivery solutions for other drugs and vaccines; that by working closely
with Encorium Group, we can proactively reach our immediate goal of filing an
IND in the United States; and that subsequently, we intend to move forward
quickly to systematically evaluate the oral bioavailability of our insulin
product from the gastrointestinal tract in humans as well as evaluate the
impact of our oral formulation on blood glucose levels.  Factors which may
significantly change or prevent our forward looking statements from fruition
include that we may be unsuccessful in developing any products and we may not
continue our collaboration with Encorium; that human trials may suffer
unforeseen difficulties or adverse medical effects on participants; that our
technology may not be validated as we progress further and our methods may not
be accepted by the scientific community; that we are unable to retain or
attract key employees whose knowledge is essential to the development of our
products; that unforeseen scientific difficulties develop with our process;
that our patents are not sufficient to protect essential aspects of our
technology; that competitors may invent better technology to treat or cure
diabetes or that the market for diabetes drugs does not increase; that studies
are cut short by unexpected problems with our methodology;  that our products
may not work as well as hoped or worse, that our products may harm recipients;
and that we may not be able raise funds for development or working capital
when we require it. As well, our products may never develop into useful
products and even if they do, they may not be approved for sale to the public.
For further risk factors see the Company's latest 10-KSB filed with the SEC
and the 8-K announcing our acquisition of the Oramed technology filed March 8,
2006.

    
    Legal Notice and Forward Looking Statements For Encorium Group, Inc.
    
    This press release contains forward-looking statements identified by
words such as "estimate," "project," "expect," "intend," "believe,"
"anticipate" and similar expressions. Actual results might differ materially
from those projected in, expressed in or implied by the forward-looking
statements. Potential risks and uncertainties that could affect the Company's
future operating results and financial condition include, without limitation:
(i) our success in attracting new business and retaining existing clients and
projects; (ii) the size, duration, and timing of clinical trials we are
currently managing may change unexpectedly; (iii) the termination, delay or
cancellation of clinical trials we are currently managing could cause revenues
to decline unexpectedly; (iv) the timing difference between our receipt of
contract milestone or scheduled payments and our incurring costs to manage
these trials; (v) outsourcing trends in the pharmaceutical, biotechnology and
medical device industries; (vi) the ability to maintain profit margins in a
competitive marketplace; (vii) our ability to attract and retain qualified
personnel; (viii) the sensitivity of our business to general economic
conditions; (ix) other economic, competitive, governmental and technological
factors affecting our operations, markets, products, services and prices; (*)
announced awards received from existing and potential customers are not
definitive until fully negotiated contracts are executed by the parties;(xi)
our backlog may not be indicative of future revenues and may not generate the
revenues expected;(xii) our ability to successfully integrate the businesses
of Encorium and Remedium Oy which we acquired on November 1, 2006; and (xiii)
the ability of the combined businesses to operate successfully, generate
revenue growth and operating profits.  You should not place any undue reliance
on these forward looking statements which speak only as of the date of this
press release. Additional information concerning factors that might affect our
business or stock price which could cause actual results to materially differ
from those in forward-looking statements is contained in Encorium Group's SEC
filings, including its Annual Report on Form 10-K for the year ended December
31, 2006 and other periodic reports under the Securities Exchange Act of 1934,
as amended, copies of which are available upon request from Encorium Group's
investor relations department or The Equity Group Inc.





For further information:

For further information: FOR ORAMED PHARMACEUTICALS, INC.: Investor 
Relations: Vinisha Agnihotri, +1-646-467-2252 Office, info@oramedpharma.com; 
FOR ENCORIUM GROUP, INC., Investor Relations: The Equity Group Inc., Adam
Prior,  +1-212-836-9606, aprior@equityny.com, or Business Development: Helen 
Springford, V.P., Global Business Development, +44-1344-769011 Office, 
+44-7785-366604, Cell phone, hspringford@encorium.com Web Site:
http://www.oramedpharma.com                  http://www.encorium.com

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ORAMED PHARMACEUTICALS

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ENCORIUM GROUP, INC.

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