Israel-based platform technology company Oramed Pharmaceuticals Inc (Nasdaq:ORMP) (TASE:ORMP) announced on Monday that it has successfully closed a strategic investment in Alpha Tau Medical Ltd (Nasdaq:DRTS), developer of the alpha-radiation cancer therapy Alpha DaRT.

Through a registered direct offering, an affiliate of Oramed purchased approximately 14.1 million ordinary shares in Alpha Tau at a purchase price of USD2.612 per share.

The parties have entered into a comprehensive three-year service agreement, whereby Oramed will provide Alpha Tau with investor and shareholder outreach, business strategic guidance and capital markets expertise. This strategic investment is aligns with Oramed's growth strategy to expand its footprint in innovative therapeutic delivery technologies, enabling Oramed to contribute to Alpha Tau's strategic direction while supporting its market presence and accelerating its path to commercialisation. Oramed will also take an active governance role with the appointment of two directors to Alpha Tau's board.

Oramed CEO Nadav Kidron commented: "Both companies share a fundamental vision of revolutionising therapeutic delivery -- Oramed through oral administration of injectable drugs and Alpha Tau through precise delivery of radiation therapy to tumour sites. We hold unwavering confidence in the exceptional potential of the Alpha DaRT technology platform and the strategic vision of Alpha Tau's leadership team. We anticipate significant advancements and milestone achievements as they execute their clinical and commercial roadmap."