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OncoSec Medical Incorporated (Nasdaq: ONCS) announced that it has entered into a definitive agreement with a single healthcare dedicated institutional fund to purchase approximately $10 million of securities in an at-the-market registered direct offering. OncoSec has agreed to sell to such investors an aggregate of 5,509,642 shares of its common stock, or pre-funded warrants in lieu thereof, at a price of $1.815 per share. Additionally, investors will receive warrants to purchase up to an aggregate of 5,509,462 shares of common stock at an exercise price of $1.69 per share for a term of 9 years. The warrants are immediately exercisable on the date of issuance.

The gross proceeds of the offering are $10 million. Net proceeds, after deducting the placement agents fee, financial advisory fees, and other estimated offering expenses payable by OncoSec, are expected to be approximately $9.1 million. OncoSec intends to use proceeds from the offering for general corporate purposes, including clinical trial expenses and research and development expenses.

Rodman Renshaw, a unit of HC Wainwright Co., LLC, acted as the exclusive placement agent in connection with this offering. The offering is expected to close on or about May 26, 2016, subject to the satisfaction of customary closing conditions.

The securities described above are being offered by OncoSec pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission, or the SEC. A prospectus supplement related to the offering will be filed with the SEC. The securities may only be offered by means of a prospectus. Copies of the prospectus and prospectus supplement can be obtained directly from OncoSec and at the SECs website at www.sec.gov or by request from HC Wainwright Co., LLC by e-mailing This email address is being protected from spambots. You need JavaScript enabled to view it..

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of OncoSecs common stock or warrants. No offer, solicitation, or sale will be made in any jurisdiction in which such offer, solicitation, or sale is unlawful.