JERUSALEM, July 11, 2012 /PRNewswire/ -- Technology to orally administer medications offers far-reaching impact in healthcare industry Announcing its third patent approval since the beginning of the calendar year, Oramed Pharmaceuticals Inc. (OTCBB:ORMP.OB) ( www.oramed.com), a developer of oral drug delivery systems, announced today that its patent, titled "Methods and Compositions for Oral Administrations of Proteins," was approved by the New Zealand Patent Office. This patent covers a core concept in the Company's technology and is Oramed's second patent to be granted in New Zealand, the first being that of its "Methods in the Oral Administration of Exenatide." Oramed's portfolio now consists of 4 issued patents and 33 patents pending for its technologies and products. The current method of administration for peptide-formulated medications is most often via injection. The ability to administer these medications orally offers far-reaching impact on patient compliance and health costs with potential to traverse a broad range of ailments and drug therapies, including diabetes medications, vaccines, and others. Oramed is currently applying its oral delivery technology to its two flagship products - an oral insulin capsule (ORMD-0801) and an oral GLP-1 analog capsule (ORMD-0901) - both of which are indicated for diabetes. About Oramed Pharmaceuticals Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines currently delivered via injection. Established in 2006, Oramed's technology is based on over 25 years of research by top research scientists at Jerusalem's Hadassah Medical Center. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule currently approaching FDA-approved Phase 2 clinical trials, and with its GLP-1 analog capsule, currently entering Phase 2a trials. The company's corporate and R&D headquarters are based in Jerusalem. The company's fact sheet can be viewed here.For more information, the content of which is not part of this press release, please visit http://www.oramed.comSafeHarborfor Forward-looking Statements: This press release contains forward-looking statements. For example, we are using forward-looking statements when we discuss the possibility of increased patient compliance and lower healthcare costs resulting from our products, or therapies for which our drug could be indicated. These forward-looking statements are based on the current expectations of the management of Oramed only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for our product candidates; competition from other pharmaceutical or biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; laboratory results that do not translate to equally good results in real settings; our patents may not be sufficient; and final that products may harm recipients, all of which could cause the actual results or performance of Oramed to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Oramed undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Oramed, reference is made to Oramed's reports filed from time to time with the Securities and Exchange Commission. .