<SEC-DOCUMENT>0001213900-23-076238.txt : 20230913
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<ACCEPTANCE-DATETIME>20230913084706
ACCESSION NUMBER:		0001213900-23-076238
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20230911
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20230913
DATE AS OF CHANGE:		20230913

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ORAMED PHARMACEUTICALS INC.
		CENTRAL INDEX KEY:			0001176309
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				980376008
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35813
		FILM NUMBER:		231251680

	BUSINESS ADDRESS:	
		STREET 1:		1185 AVENUE OF THE AMERICAS, 3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		646-844-1164

	MAIL ADDRESS:	
		STREET 1:		1185 AVENUE OF THE AMERICAS, 3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Integrated Security Technologies, Inc.
		DATE OF NAME CHANGE:	20040614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IGUANA VENTURES LTD
		DATE OF NAME CHANGE:	20020625
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Washington, D.C. 20549</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Pursuant to Section 13 or 15(d) of </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>the Securities Exchange Act of 1934</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in its charter)</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Securities registered pursuant to Section
12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family: Times New Roman, Times, Serif">&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 8.01 Other Events.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">As previously disclosed, on August
7, 2023, Oramed Pharmaceuticals Inc., a Delaware corporation (the &#8220;Company&#8221;), entered into a Stock Purchase Agreement (as
subsequently amended on August 9, 2023 and August 21, 2023,&#160;the &#8220;Stock Purchase Agreement&#8221;) with Sorrento Therapeutics,
Inc. (the &#8220;Seller&#8221; or &#8220;Sorrento&#8221;), pursuant to which, subject to the terms and conditions set forth in the Stock
Purchase Agreement, the Company agreed to acquire certain equity securities of Scilex Holding Company (&#8220;Scilex&#8221;) owned by
the Seller (the &#8220;Purchased Securities,&#8221; and such acquisition of the Purchased Securities, the &#8220;Transaction&#8221;) for
a total purchase price of $105 million.</span> The Seller and its affiliated debtor, Scintilla Pharmaceuticals, Inc. (&#8220;Scintilla&#8221;
and together with the Seller, the &#8220;Debtors&#8221;) are in Chapter 11 bankruptcy proceedings (the &#8220;Chapter 11 Cases&#8221;)
pending before the United States Bankruptcy Court for the Southern District of Texas (the &#8220;Bankruptcy Court&#8221;), which commenced
on February 13, 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As previously disclosed, the
Company and Sorrento agreed to consideration for the Transaction of (i) a credit bid by the Company on a dollar-for-dollar basis of the
full amount of outstanding obligations as of the closing date under the Senior Secured, Super-Priority Debtor-in-Possession Loan and Security
Agreement (the &#8220;Senior DIP Loan Agreement&#8221;), entered into on August 9, 2023, by and among the Debtors, the Company and the
guarantors from time to time party thereto, pursuant to which the Company provided to the Debtors a non-amortizing super-priority senior
secured debtor-in-possession term loan financing facility in an aggregate principal amount of $100 million (the &#8220;Senior DIP Loan
Facility&#8221;), which amount was subsequently drawn in full by the Debtors, and (ii) $5 million to be paid in cash by the Company to
the Seller.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As previously disclosed, following
the conclusion of the auction that commenced on August 14, 2023 (the &#8220;Auction&#8221;), on August 17, 2023, Sorrento filed a <i>Notice
of (I) Successful Bidder and Successful Bid, (II) Reset of Sale Hearing, and (III) Sale Objection Deadline </i>announcing the Company
as the successful bidder in the Auction. On August 25, 2023, the Bankruptcy Court approved such transactions on the record at a hearing
and in an order entered on August 30, 2023. Thereafter, the Company and Sorrento continued discussions and negotiations relating to the
sale contemplated under the Stock Purchase Agreement; however, such sale has not yet closed as of the date hereof.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 11, 2023, the Company, Sorrento and Scilex entered into
non-binding term sheets relating to, among other things, the Securities Transfer (as defined below) (the &#8220;Securities Transfer Term
Sheet&#8221;) (which the official committee of unsecured creditors and the official committee of equity security holders in the Chapter
11 Cases have each signed as &#8220;Consenting Parties&#8221; thereto) and the Note (as defined below) (the &#8220;Note Term Sheet&#8221;
and together with the Securities Transfer Term Sheet, the &#8220;Term Sheets&#8221;). The Term Sheets are subject to, among other things,
entry into definitive documentation relating thereto. The transactions contemplated by the Term Sheets are expected to close on or about
September 19, 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Securities Transfer Term Sheet</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Securities Transfer Term Sheet contemplates that, subject to the
terms and conditions set forth therein, Scilex will be declared by Sorrento and the Bankruptcy Court the winning bidder for the purchase
of all of the Scilex common stock owned by Sorrento (other than the shares held in abeyance by Sorrento on behalf of certain of its warrantholders),
all of the Scilex preferred stock owned by Sorrento, and all of the warrants for purchase of shares of Scilex common stock owned by Sorrento
(such securities, the &#8220;Transfer Securities&#8221;, and the transfers, collectively, the &#8220;Securities Transfer&#8221;) for an
aggregate purchase price payable as follows: (i) $110 million, consisting of (x) an advance payment of $5 million in cash to be paid within
two business days after entry of the final order approving the Term Sheets (which order was entered on September 12, 2023), (y) $100 million
to be paid at closing of the Securities Transfer in cash if pursuant to Option 1 (as defined below); provided, that if closing occurs
pursuant to Option 2 (as defined below), such payment shall be satisfied by the DIP Assumption (as defined below), and (z) $5 million
to be paid in cash at closing of the Securities Transfer, <i>plus</i> (ii) the assumption by Scilex of certain legal fees and expenses
in the amount of approximately $12.25 million, <i>plus</i> (iii) a credit bid of all amounts owed to Scilex under the Junior Secured,
Super-Priority Debtor-in-Possession Loan and Security Agreement, dated July 28, 2023, between Scilex and the Debtors (the &#8220;Junior
DIP Credit Bid&#8221;). The Securities Transfer Term Sheet provides that the Securities Transfer will be consummated either by: (A) Hudson
Bay Capital Management LP (together with its affiliates, &#8220;Hudson Bay&#8221;) funding $115 million to Scilex in connection with certain
definitive documentation (the &#8220;Hudson Bay Documents&#8221;) between Scilex and Hudson Bay relating thereto (&#8220;Option 1&#8221;);
or (B) if Hudson Bay fails to timely provide such funding pursuant to its commitment, Scilex assuming (the &#8220;DIP Assumption&#8221;)
the Debtors&#8217; obligations under the Senior DIP Loan Facility and the full release of the Debtors rights and obligations under the
Senior DIP Loan Agreement, the terms of which shall be amended to reflect those set out in the Term Sheets (&#8220;Option 2&#8221;). Upon
the closing of the proposed transactions set forth in the Term Sheets, the Company and Sorrento shall terminate the Stock Purchase Agreement
and mutually release any and all claims they may have against one another, including a release of any claims of the Company to any breakup
fee or expense reimbursement thereunder (the &#8220;Oramed SPA Termination&#8221;), which Oramed SPA Termination is conditioned upon a
release of the Company by the Debtors and Scilex in connection with all matters relating to the Stock Purchase Agreement and the Bankruptcy
Cases, effective upon the closing of the proposed transactions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with execution of the Term Sheets, the Company and Sorrento
agreed to irrevocably waive any failure to satisfy a closing condition and any termination event or right of termination set forth in
the Stock Purchase Agreement, to the extent such failure directly results solely from certain permitted debt financings or the use of
the Standby Equity Purchase Agreement entered into between Scilex and YA II PN, Ltd., dated November 17, 2022, as amended by an Amended
and Restated Standby Equity Purchase Agreement on February 8, 2023 and/or the Standby Equity Purchase Agreement dated January 8, 2023
between Scilex and B. Riley Principal Capital II (collectively, the &#8220;ELOCs&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Note Term Sheet</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Note Term Sheet provides that, in the event that the DIP Assumption
occurs, Scilex will issue to the Company a Senior Secured Note (the &#8220;Note&#8221;) with an initial principal balance equal to the
unpaid principal and accrued and unpaid interest under the Senior DIP Loan Facility, maturing on the 18-month anniversary of the closing
of the Note (the &#8220;Closing Date&#8221;) or upon an uncured event of default, subject to certain mandatory prepayments, and bearing
interest at a rate per annum equal to the SOFR plus 8.5% (subject to a SOFR floor of 4.0%), to be paid in-kind, by being capitalized and
added to the principal amount of the Note on a monthly basis. The definitive documents shall be on substantially the same terms as the
Hudson Bay Documents, as modified by the terms of the Note Term Sheet or as otherwise agreed by the Company and Scilex. The Note Term
Sheet provides for principal payments of (i) $5 million on the 90<sup>th</sup> day following the Closing Date, (ii) $15 million on the
180<sup>th</sup> day following the Closing Date, and (iii) $20 million on the 270<sup>th</sup> day following the Closing Date and every
90 days thereafter. If the Note is not repaid in full on or prior to the 6-month anniversary of the Closing Date, an exit fee equal to
3.0% of the initial principal amount of the Note shall be payable upon repayment of the Note in full.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Note will be the senior
secured indebtedness of Scilex, secured by a senior lien on substantially all of the Company&#8217;s assets, subject to certain exclusions
as set forth in the Note Term Sheet. The Note will contain customary representations and warranties and customary covenants, including
restrictions on Scilex&#8217;s and its subsidiaries&#8217; ability to incur or guarantee other indebtedness and that Scilex will maintain
certain minimum liquidity requirements, among others. The Note will include customary events of default upon which the Note will bear
interest at a default rate of SOFR plus 15.0%, which shall be payable in-kind, by being capitalized and added to the principal amount of the Note
on a monthly basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Note Term Sheet further
provides (i) that the Company will have the right to designate one non-voting observer to attend meetings of the board of directors and
committees of Scilex and its subsidiaries until the obligations under the Note are repaid in full, (ii) that Scilex will issue to the
Company warrants to purchase an aggregate of 13 million shares of Scilex common stock at an exercise price of $0.01 per share, subject
to certain restrictions, (iii) that Scilex will transfer to the Company warrants to purchase 4 million shares of Scilex common stock at
an exercise price of $11.50 per share purchased from Sorrento, (iv) for certain registration rights with respect to the shares of Scilex
common stock underlying the warrants and (v) that Scilex will reimburse the Company for certain costs and expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After a hearing before the
Bankruptcy Court on September 12, 2023, the Bankruptcy Court entered a final order approving the Term Sheets. In connection therewith,
the Bankruptcy Court also ordered (i) the Stock Purchase Agreement to be conditionally terminated and the Oramed Sale Order conditionally
vacated, effective upon closing the Securities Transfer to Scilex, and (ii) the restrictions on certain transfers of Scilex common stock
held by Sorrento to be extended from September 1, 2023 to March 31, 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing summaries of
the Scilex Term Sheets are qualified in their entirety by reference to the full text of such term sheets. A copy of the Securities Transfer
Term Sheet and the Note Term Sheet are attached to this Current Report on Form 8-K as Exhibit 99.1 and Exhibit 99.2, respectively, and
incorporated by reference herein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cautionary Note Regarding Forward-Looking
Statements</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Current Report on Form
8-K may contain forward-looking statements, which may generally be identified by the use of the words &#8220;anticipates,&#8221; &#8220;expects,&#8221;
&#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;would,&#8221; &#8220;may,&#8221; &#8220;will,&#8221;
&#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;potential,&#8221; &#8220;target,&#8221; or &#8220;continue&#8221; and variations
or similar expressions and include statements about the consummation of the Securities Transfer and the other transactions contemplated
by the Term Sheets. These statements are based upon the current expectations and beliefs of management and are subject to certain risks
and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company&#8217;s most recent annual or quarterly
report and detailed from time to time in the Company&#8217;s other filings with the Securities and Exchange Commission, which factors
are incorporated herein by reference and the following factors: <span style="background-color: white">risks associated with the Company&#8217;s
ability to execute definitive documents in respect of and to close the transactions contemplated by the Term Sheets, in a timely manner
or at all; the failure by one or more parties to satisfy conditions to completion of the transactions contemplated by the Term Sheets,
including receipt of required approvals, or the failure to close such transactions for any other reason; the occurrence of any event,
change or other circumstances that could give rise to the termination of the transactions contemplated by the Term Sheets </span>or the
definitive documentation relating thereto; the Company&#8217;s ability to recover the proceeds and/or collateral under the Senior DIP
Loan Agreement, or the Note in the event that the transactions are consummated; the possibility that the transactions may be more expensive
to complete than anticipated; diversion of management&#8217;s attention from ongoing business operations and opportunities; exposure to
potential litigation in connection with the transactions; , all of which could cause the actual results or performance of Oramed to differ
materially from those contemplated in such forward-looking statements. These forward-looking statements speak only as of the date hereof.
Oramed undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date hereof
or to reflect actual outcomes, unless required by law.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>Item 9.01 Financial
Statements and Exhibits.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b></b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
Exhibits.</span></p>



<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1 &#160;</span></td>
    <td style="text-align: justify; width: 1%">&#160;</td>
    <td style="text-align: justify; width: 90%"><a href="ea185123ex99-1_oramed.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Transfer Term Sheet, dated September 11, 2023 among Scilex Holding Company, Sorrento Therapeutics, Inc. and Oramed Pharmaceuticals Inc.</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2 &#160;</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><a href="ea185123ex99-2_oramed.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note Term Sheet, dated September 11, 2023 among the Company, Scilex Holding Company, and Sorrento Therapeutics, Inc. </span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover Page Interactive Data File (embedded within the Inline XBRL document).</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td colspan="2"><b>ORAMED PHARMACEUTICALS INC.</b></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td colspan="2">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="width: 60%">&#160;</td>
    <td style="width: 5%">By:</td>
    <td style="border-bottom: black 1.5pt solid; width: 35%">/s/ Nadav Kidron</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>Name:&#160;</td>
    <td>Nadav Kidron&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>Title:</td>
    <td>President and CEO</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 13, 2023</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">4</p>

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<TYPE>EX-99.1
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<FILENAME>ea185123ex99-1_oramed.htm
<DESCRIPTION>SECURITIES TRANSFER TERM SHEET, DATED SEPTEMBER 11, 2023 AMONG SCILEX HOLDING COMPANY, SORRENTO THERAPEUTICS, INC. AND ORAMED PHARMACEUTICALS INC
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I>Execution Version</I></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><B><U>NON-BINDING TERM SHEET</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>September 11, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following non-binding term sheet (&ldquo;<U>Term
Sheet</U>&rdquo;) outlines, in addition to the other matters described herein, the proposed terms of (A) the declaration of Scilex as
the winning bidder for the purchase of the Securities Transfer (as defined below) pursuant to the Winning Bid (as defined below), and
either (B) the closing of the Winning Bid pursuant to Option 1 below, or (C) the closing of the Winning Bid Pursuant to Option 2 below,
including: (i) the assumption by Scilex Holding Company (&ldquo;<U>Scilex</U>&rdquo;), of all rights and obligations of the Borrowers
under and as defined in that certain Senior Secured, Super-Priority Debtor-in-Possession Loan and Security Agreement, by and among Oramed
Pharmaceuticals, Inc. (&ldquo;<U>Oramed</U>&rdquo;), on the one hand, and Sorrento Therapeutics, Inc. (&ldquo;<U>Sorrento</U>&rdquo;)
and Scintilla Pharmaceuticals, Inc. (together with Sorrento, the &ldquo;<U>DIP Borrowers</U>&rdquo; or the &ldquo;<U>Debtors</U>&rdquo;,
and together with Scilex and Oramed, the &ldquo;<U>Parties</U>&rdquo;, and individually, a &ldquo;<U>Party</U>&rdquo;), on the other,
dated as of August 8, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the
&ldquo;<U>Senior DIP Loan Agreement</U>&rdquo;); (ii) the amendment of the Senior DIP Loan Agreement pursuant to the terms herein; (iii)
the conditional termination of Sorrento&rsquo;s and Oramed&rsquo;s rights and obligations under that certain Stock Purchase Agreement
between them, dated as of August 7, 2023 (as amended, the &ldquo;<U>SPA</U>&rdquo;), as further summarized herein, and (iv) the acquisition
by Scilex of the Transfer Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet is for discussion purposes only
and (other than the section entitled &ldquo;Equity Lines of Credit&rdquo; which is intended by the Parties hereto to be legally binding
from and after the execution of this Term Sheet) is not a legally binding agreement. Neither this Term Sheet nor any course of conduct
by any Party before or after the date hereof will give rise to any obligation of any Party to (a) continue discussions or negotiations
related to, or consummate, any transaction with respect to the subject matter hereof or (b) execute and deliver any definitive agreements
related thereto. Each Party&rsquo;s obligation to enter into one or more definitive transaction agreements with respect to the subject
matter hereof, including any amendment of the Senior DIP Loan Agreement (a &ldquo;<U>Definitive Agreement</U>&rdquo;) is subject to, among
other things, the review and approval of the transaction by its respective board of directors and the Bankruptcy Court for the Southern
District of Texas (the &ldquo;<U>Bankruptcy Court</U>&rdquo;). The Parties will each have the right to terminate negotiations relating
to the subject matter hereof at any time prior to the execution of a Definitive Agreement. Such termination will not result in any liability
to any Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>SUMMARY OF PROPOSED TRANSACTIONS</B></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1.75in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>General Structure </B></FONT></TD>
    <TD STYLE="font-weight: normal; text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Subject to the terms and conditions herein (the &ldquo;<U>Proposed Transactions</U>&rdquo;):</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Promptly following the execution of this Term Sheet, the Senior Debt Term Sheet (as defined below) and
approval of this Term Sheet by the Bankruptcy Court, Scilex shall be declared by Sorrento and the Bankruptcy Court the winning bidder
for the purchase of the Securities Transfer for an aggregate purchase price to be payable as follows (the &ldquo;<U>Winning Bid</U>&rdquo;)<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT>:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">$110 million, which shall be paid as follows: (x) the Advance Payment (as defined below), (y) $100 million
on the closing of the Securities Transfer pursuant to the Winning Bid (&ldquo;<U>Closing</U>&rdquo;); <U>provided</U>, that if the Closing
occurs pursuant to Option 2 (as defined below), such $100 million shall be satisfied by the DIP Assumption (as defined below), and (z)
$5 million in cash which shall be paid at Closing (the &ldquo;Closing Cash Payment&rdquo;); <I>plus</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">b.</FONT></TD><TD STYLE="text-align: justify">Scilex will assume all of the obligations of Sorrento to Paul Hastings LLP for legal fees and expenses reflected in Paul Hastings&rsquo;
proof of claim #238 in the Bankruptcy Case in the amount of approximately $12.25 million (the &ldquo;<U>Legal Fee Assumption</U>&rdquo;);
<I>plus</I></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Scilex will credit bid all amounts owed to Scilex under that certain Junior Secured, Super-Priority Debtor-in-Possession
Loan and Security Agreement, dated as of July 28, 2023, between Scilex and the DIP Borrowers (the &ldquo;<U>Junior DIP Credit Bid</U>&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><SUP>1</SUP></TD><TD STYLE="text-align: justify">The stock purchase agreement with respect to the Winning Bid shall be substantially in the
form of the Stock Purchase Agreement filed by Scilex at Docket No. 1239 in the Bankruptcy Case, with such changes as are necessary to
reflect the terms reflected herein, including the purchase price reflected herein, and such other changes as are negotiated between Sorrento
and Scilex after the date hereof.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">While Hudson Bay has stated that it does not see a path toward Scilex satisfying the closing conditions
in the SPA with Hudson Bay, Scilex believes that Hudson Bay remains committed to fund $115 million to Scilex in connection with its Winning
Bid as reflected by the definitive documentation between Scilex and Hudson Bay at Docket No. 1239 in the Bankruptcy Case (the &ldquo;<U>Hudson
Bay Documents</U>&rdquo;). Scilex will use commercially reasonable efforts to cause Hudson Bay to close. Scilex shall offer Hudson Bay
both (a) the opportunity to close the transaction provided Hudson Bay, on or before September 12, 2023, both confirms its intention to
close and subjects itself to Bankruptcy Court resolution of any alleged failure of a closing condition or condition (the &ldquo;<U>HB
Commitment</U>&rdquo;) or (b) the opportunity to abandon the transaction without any further liability provided Hudson Bay, on or before
September 12, 2023, confirms that it will refund Scilex&rsquo;s $8.5 million deposit within one business day or otherwise reaches agreement
with Scilex on terms of abandonment. Thereafter:</TD></TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">If Hudson Bay provides the HB Commitment and thereafter funds its commitments in full under the
                                                               Hudson Bay Documents, then Scilex shall consummate the Proposed Transactions and Securities Transfer (as defined below) using the
                                                               proceeds of such funding rather than the DIP Assumption,<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2 </SUP></FONT>and
                                                               the transactions set forth under Option 2 below shall not be consummated (except to the extent expressly applicable to Option 1 as
                                                               set forth below) (&ldquo;<U>Option 1</U>&rdquo;); and</TD></TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">If Hudson Bay fails to timely provide the HB Commitment or timely provides the HB Commitment but fails
to fund its commitments in full under the Hudson Bay Documents in a timely manner (a &ldquo;<U>Hudson Bay Failure</U>&rdquo;), all claims
against Hudson Bay with respect to any Hudson Bay Failure shall be preserved, and the Parties shall instead proceed with Option 2 defined
below.</TD></TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">If Hudson Bay abandons the transaction, does not timely provide the HB Commitment or if a Hudson Bay Failure
has occurred, then, subject to the terms and conditions herein, the parties hereto shall consummate the following transactions (such transactions,
&ldquo;<U>Option 2</U>&rdquo;, it being understood and agreed that the remaining terms of this Term Sheet shall apply solely to Option
2 unless otherwise specified):</TD></TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">In exchange for the Scilex Consideration (as defined below), Sorrento shall transfer to Scilex or its designee (which may be a wholly
owned subsidiary of Scilex) (i) all of Scilex&rsquo;s common stock owned by any of the Borrowers (other than shares of Scilex&rsquo;s
common stock held in abeyance by the Borrowers on behalf of certain warrantholders of Sorrento) (the &ldquo;<U>Common Transfer Shares</U>&rdquo;),
(ii) all of Scilex&rsquo;s preferred stock owned by any of the Borrowers (the &ldquo;<U>Preferred Transfer Shares</U>&rdquo;)<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>3</SUP></FONT>
and (iii) all of the warrants for the purchase of shares of Scilex common stock owned by any of Borrowers (the &ldquo;<U>Transfer Warrants</U>&rdquo;,
and together with the Common Transfer Shares and the Preferred Transfer Shares, the &ldquo;<U>Transfer Securities</U>&rdquo;), (collectively,
the &ldquo;<U>Securities Transfer</U>&rdquo;);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">In exchange for and in consideration of the Securities Transfer, Scilex will satisfy the Winning Bid as follows (the &ldquo;<U>Scilex
Consideration</U>&rdquo;):</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">Scilex shall assume, and the Borrowers shall assign and upon effectiveness of the DIP Assumption, the Borrowers shall be irrevocably
and fully released from all of the Borrowers&rsquo; rights and obligations under the Senior DIP Loan Agreement and Oramed shall consent
to same (the &ldquo;<U>DIP Assumption</U>&rdquo;); the terms of which shall (with effect from the effectiveness of the DIP Assumption)
be amended to (collectively, with the related documents to memorialize the terms below, the &ldquo;<U>DIP Amendment</U>&rdquo;) (w) reflect
the terms set forth in this Term Sheet, (x) to reflect terms to be negotiated to be based substantially on the definitive documentation
between Scilex and Hudson Bay at Docket No. 1239 (the &ldquo;<U>HB Documents</U>&rdquo;) in the Bankruptcy Case (provided that the Loan
(as defined below) shall not include a convertible feature), as modified by the terms set forth in the senior secured debt term sheet
to be entered into by Scilex and Oramed and presented at mediation and attached hereto as <B><U>Exhibit A</U></B> (the &ldquo;<U>Senior
Debt Term Sheet</U>&rdquo;, and together with this Term Sheet, the &ldquo;<U>Option 2 Term Sheets</U>&rdquo;) and (y) to reflect the fact
that, as-assumed, such obligations shall not constitute a debtor-in-possession credit facility (the debt obligations of Scilex to Oramed
following such assumption and amendments, the &ldquo;<U>Loan</U>&rdquo;);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In connection with both Option 1 and Option 2, the Legal Fee Assumption;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In connection with both Option 1 and Option 2, Scilex will make the Junior DIP Credit Bid;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><SUP>2</SUP></TD><TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt">For avoidance of doubt, the proceeds of the consummation of the Proposed Transactions under
Option 1 shall be used by the Debtors to first satisfy the obligations under the Senior DIP Loan Agreement and Final DIP Order at Docket
No. 1184.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><SUP>3</SUP></TD><TD STYLE="text-align: justify">Scilex will hold the preferred stock in a bankruptcy-remote entity (&ldquo;<U>BRE</U>&rdquo;)
reasonably satisfactory to Oramed that will allow Oramed to recover the preferred stock as collateral for the Loan upon events of default
on the Loan after any notice and applicable opportunity to cure through an exercise of secured creditor remedies. The equity of the BRE
shall be pledged as collateral to Oramed to secure repayment of the Loan.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 2.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In connection with both Option 1 and Option 2, Scilex shall pay to Sorrento $5.0 million in cash within 2 business days after a court
order approving the Option 2 Term Sheets and approving Scilex as the winning bidder is entered by the Bankruptcy Court, which amount shall
be treated as an advance payment of purchase price consideration to be paid on the Closing Date for the Securities Transfer (the &ldquo;<U>Advance
Payment</U>&rdquo;);</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In connection with either Option 1 or Option 2, Scilex shall pay the Closing Cash Payment to Sorrento at Closing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.75in; text-align: justify">Oramed shall not be released from its obligations under the SPA until
the Closing of the Proposed Transactions. Upon Closing of Proposed Transactions, Oramed and Sorrento shall terminate the SPA, including
all rights and obligations of the Parties thereunder, and the Parties thereto will release any and all claims they may have against one
another, including a release by Oramed of any claims to any breakup fee or expense reimbursement in connection therewith, which termination
and waiver shall be effective as of the satisfaction of the applicable conditions precedent below (the &ldquo;<U>Oramed SPA Termination</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"><B>Timeline</B></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Hearing to Approve (i) Proposed Transactions, (ii) Oramed SPA Termination, (iii) Option 2 Term Sheets,
and (iv) Winning Bid: September 11, 2023 (subject to court availability)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Finalization of Definitive Documentation and the DIP Amendment:<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>4</SUP></FONT>
Prior to Closing</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Closing of DIP Assumption pursuant to Option 2: Immediately prior to Closing pursuant to Option&nbsp;2</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.75in; text-align: right"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Closing: September 19, 2023</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1.75in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conditions Precedent</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The following shall be conditions precedent to the Oramed SPA Termination:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            Bankruptcy Court shall have entered an order in the Debtors&rsquo; bankruptcy case (the &ldquo;<U>Bankruptcy
                                            Cases</U>&rdquo;) (i) approving the Oramed SPA Termination, and (ii) providing a release
                                            of Oramed and its affiliates by the Debtors and Scilex in connection with all matters relating
                                            to the SPA and the Bankruptcy Cases, which release shall be effective upon Closing; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">approval of the Oramed SPA Termination by the Board of Directors of Oramed.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>





<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.75in; text-align: right">&nbsp;</TD><TD STYLE="text-align: justify">The following shall be conditions precedent to the Proposed Transactions:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the Bankruptcy Court shall have entered an order (i) approving the Proposed Transactions, (ii) if Option
2 is to be consummated, providing (x) a release of Oramed and its affiliates by the Debtors and Scilex of all claims to the maximum extent
permitted by law, (y) a release of Scilex and its affiliates by Oramed, other than Scilex&rsquo;s obligations under the DIP Amendment,
the Proposed Transactions, the Loan and all Loan documents and (z) Debtors&rsquo; providing a release of Scilex, Scilex, Inc., Scilex
Pharmaceuticals Inc., Semnur Pharmaceuticals, Inc., SCLX Stock Acquisition JV LLC, the BRE, and the directors and officers of each of
the foregoing (the foregoing, collectively, the &ldquo;<U>Scilex Released Parties</U>&rdquo;) relating to the negotiation of this transaction
or as a result of this transaction (including, without limitation, the DIP Amendment and collateral securing the Loan), and (iii) if Option
1 is to be consummated, the Debtors&rsquo; providing a release of the Scilex Released Parties relating to the negotiation of this transaction
or as a result of this transaction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">approval of the Proposed Transactions by the Board of Directors of Scilex;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">if Option 1 or Option 2 is to be consummated, the Bankruptcy Court shall have entered an order extending
the existing lock-up on all shares of Common Stock owned by Sorrento shareholders that were issued in January 2023 as part of Sorrento&rsquo;s
dividend of Shares of Common Stock to its stockholders (approximately 76.0 million shares) to March 31, 2024.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.25in; text-align: left"><SUP>4</SUP></TD><TD STYLE="text-align: justify">Disputes regarding definitive documentation of the DIP Amendment that are not expressly set
forth in the Option 2 Term Sheets will be decided by the Bankruptcy Court based on the Option 2 Term Sheets and the HB Documents after
parties in interest have had the opportunity to be heard.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.75in; text-align: justify">The following shall be conditions precedent to
the DIP Assumption under Option 2 (in addition to the conditions precedent for the Proposed Transactions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the perfection of Oramed&rsquo;s first priority security interest in all collateral under the Loan, as
amended pursuant to the DIP Amendment; <U>provided</U>, that to the extent any collateral cannot be perfected on the Closing Date (x)
by the filing of a financing statement under the Uniform Commercial Code, (y) by the delivery of stock certificates and related transfer
instruments executed in blank of Scilex&rsquo;s wholly-owned subsidiaries, or (z) by the filing of customary intellectual property security
agreements with the United States Patent and Trademark Office or the United States Copyright Office, then the perfection of the security
interest in such collateral shall not constitute a condition precedent to the Closing Date, but instead such security interest shall be
required to be perfected within thirty (30) days of the Closing Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the execution of the definitive documents to memorialize and implement the DIP Amendment in form and substance
reasonably acceptable to Oramed and Scilex consistent with the Option 2 Term Sheets; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">approval of the DIP Assumption by the Board of Directors of Oramed.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.75in; text-align: justify">The date on which the foregoing conditions shall
have been satisfied or waived and the transactions under Option 2 shall be consummated is herein referred to as the &ldquo;<U>Closing
Date</U>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.75in; text-align: justify">The Bankruptcy Court order approving this Term
Sheet will include a decretal paragraph providing that, upon the Closing, the Stockholder Agreement, dated as of September 12, 2022, by
and among Scilex Holding Company (f/k/a Vickers Vantage Corp. I) and Sorrento Therapeutics, Inc., is deemed terminated and of no further
force or effect. For the avoidance of doubt, if the Proposed Transactions are not consummated, the Stockholder Agreement shall remain
in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1.75in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Equity Lines of Credit</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For all purposes of the SPA, with effect from
    the date of this Term Sheet, each of Oramed and Sorrento hereby irrevocably waives (i) any failure to satisfy a closing condition set
    forth in Article 6 of the SPA, to the extent such failure directly results solely from the Use of the ELOCs or the Other Permitted Financings
    (as defined below), and (ii) any termination event or right of termination under Article 7 of the SPA which is triggered or becomes exercisable
    solely as a direct result of the Use of the ELOCs or the Other Permitted Financings, or the execution of the Option 2 Term Sheets or the
    Definitive Agreements (clauses (i) and (ii), collectively, the &ldquo;<U>SPA Waivers</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In reliance on the SPA Waivers and notwithstanding
    any other agreement among the parties hereto (including, without limitation, any restrictions under the SPA), Sorrento and Oramed hereby
    consent to (i) Scilex utilizing the standby equity purchase agreement entered into between the Company and YA II PN, Ltd., dated November
    17, 2022, as amended by an amended and restated standby equity purchase agreement on February 8, 2023 (the &ldquo;<U>YA ELOC</U>&rdquo;)
    and/or the Standby Equity Purchase Agreement dated January 8, 2023 with B. Riley Principal Capital II (the &ldquo;<U>B. Riley Equity Line
    of Credit&rdquo;</U>, and together with the YA ELOC, the &ldquo;<U>Equity Lines of Credit</U>&rdquo; and such utilization the &ldquo;<U>Use
    of the ELOCs</U>&rdquo;), and (ii) any equity financing, as well as any debt financing that would constitute permitted indebtedness under
    the DIP Amendment as described in the Senior Debt Term Sheet (including, for the avoidance of doubt, the B. Riley Indebtedness (as defined
    in the Senior Debt Term Sheet) and other subordinated indebtedness subject to the cap and conditions set forth in the Senior Debt Term
    Sheet) (collectively, the &ldquo;<U>Other Permitted Financings</U>&rdquo;).</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>THE PARTIES ACKNOWLEDGE AND AGREE THAT (A) THE DEFINITIVE AGREEMENTS WILL CONTAIN ADDITIONAL TERMS AND CONDITIONS (INCLUDING THOSE CUSTOMARY IN AGREEMENTS OF THIS NATURE) MUTUALLY AGREED UPON BY BOTH PARTIES, (B) PRIOR TO THE EXECUTION OF THE DEFINITIVE AGREEMENTS THE PARTIES WILL NEED TO AGREE TO, AND HAVE AUTHORIZED REPRESENTATIVES APPROVE, THE TERMS AND CONDITIONS OF THE DEFINITIVE AGREEMENTS AND (C) THAT &nbsp;NO PARTY IS OBLIGATED TO ENTER INTO THE DEFINITIVE AGREEMENTS.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>









<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SCILEX HOLDING COMPANY</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 5%; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">/s/ Stephen Ma</FONT></TD>
    <TD STYLE="padding: 0pt; width: 60%; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Stephen Ma</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">/s/ Nadav Kidron</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0pt; font-weight: normal; font-size: 12pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nadav Kidron&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0pt; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 35%"><FONT STYLE="font-size: 10pt">/s/ Josh Hexter</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="font-weight: normal; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Josh Hexter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SORRENTO THERAPEUTICS INC.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Mohsin Y. Meghji</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="font-weight: normal; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mohsin Y. Meghji</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Restructuring Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CONSENTING PARTIES:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OFFICIAL COMMITTEE OF UNSECURED CREDITORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Mark Shinderman</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Mark Shinderman</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>MILBANK LLP</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Counsel for Official Committee of Unsecured Creditors</I></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Official Committee of Equity Securities Holders</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Andrew K. Glenn</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: normal; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew K. Glenn</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>GLENN AGRE BERGMAN &amp; FUENTES</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Counsel for Official Committee of Equity Securities Holders</I></P></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Exhibit A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Senior Debt Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TERM SHEET FOR<BR>
SENIOR SECURED NOTE AND WARRANTS<BR>
AND RELATED MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>September 11, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>PARTIES</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 25%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Company:</B></FONT></TD>
    <TD STYLE="width: 75%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Scilex Holding Company, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo; or &ldquo;<U>SCLX</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Investor:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Oramed Pharmaceuticals, Inc. (the &ldquo;<U>Investor</U>&rdquo; or &ldquo;<U>Oramed</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Sorrento:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Sorrento Therapeutics Inc., a Delaware corporation (&ldquo;<U>Sorrento</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>NON-BINDING TERMS</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Securities:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In exchange for the consummation of the DIP Assumption
    (as defined in that certain Non-Binding Term Sheet, executed on the date hereof, between the Company, Investor and Sorrento and presented
    at mediation (such term sheet, the &ldquo;<U>Short Form Term Sheet</U>&rdquo;)), the Company will issue a Senior Secured Note (the &ldquo;<U>Note</U>&rdquo;),
    as described below. The initial principal balance of the Note shall be an amount equal to the unpaid principal and accrued and unpaid
    interest under the Senior DIP Loan agreement (as defined in the Short Form Term Sheet) (the &ldquo;<U>Initial Principal Amount</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As contemplated pursuant to the Short Form Term
    Sheet, the definitive documents in respect of the Note shall be substantially the same as the HB Documents (as defined in the Short Form
    Term Sheet) except as expressly modified by this term sheet (this &ldquo;<U>Term Sheet</U>&rdquo;) or as otherwise agreed by the Investor
    and the Company. All references herein to terms that are &ldquo;customary for transactions of this type&rdquo; (or similar language) shall
    be deemed to refer to such terms as are set forth in the HB Documents to the extent addressed therein.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Maturity and Repayment:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will mature on the 18-month anniversary
    of the Closing (as described below), except as otherwise provided in the Note (the &ldquo;<U>Maturity Date</U>&rdquo;). The Company shall
    make principal payments, without premium or penalty, in respect of the Note as follows:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.0
    million on the 90th day following the Closing;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.0
    million on the 180th day following the Closing; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.0
    million on 270th day of the Closing and every 90 days thereafter;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U> that each such principal payment
    amount shall be reduced on a dollar-for-dollar basis by the amount of any mandatory or voluntary prepayments made prior to the date of
    such principal payment amount. If a principal payment would be due on a date that is not a business day, then payment shall be made on
    the next business day. The aggregate outstanding principal amount of the Note (the &ldquo;<U>Amount Outstanding</U>&rdquo;), together
    with any accrued but unpaid interest, shall be due and payable in full on the Maturity Date or, at the written election of the Investor,
    upon an uncured Event of Default.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Voluntary Prepayments:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note may be prepaid, in whole or in part,
    at the option of the Company, from time to time without premium or penalty (except as set forth in the next paragraph), in minimum amounts
    to be agreed, upon two (2) business days&rsquo; prior notice (which notice may be conditioned upon the occurrence of a refinancing or
    other event).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any voluntary prepayment occurs on or prior
    to the 1-year anniversary of Closing, such voluntary prepayment will be accompanied by a customary 50.0% interest make-whole on the portion
    of the Note so prepaid.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Mandatory Prepayments:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will be required to repay the Note
    as follows, without premium or penalty:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.3pt; text-align: justify; text-indent: -31.7pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70%
    of the net cash proceeds to which the Company is entitled to from advances made under the standby equity purchase agreement entered into
    between the Company and YA II PN, Ltd. (&ldquo;<U>YA</U>&rdquo;), dated November 17, 2022, as amended by an amended and restated standby
    equity purchase agreement on February 8, 2023 (the &ldquo;<U>YA ELOC</U>&rdquo;) and/or the Standby Equity Purchase Agreement dated January
    8, 2023 with B. Riley Principal Capital II (&ldquo;<U>B. Riley Principal</U>&rdquo;) (the &ldquo;<U>B. Riley Equity Line of Credit</U>&rdquo;,
    and together with the YA ELOC, the &ldquo;<U>Equity Lines of Credit</U>&rdquo;) will be directed by the Company to be paid directly by
    YA or the B. Riley Principal to Oramed or, if the financing source cannot or will not do so, then instead deposited into a blocked account
    (the &ldquo;<U>Blocked Account</U>&rdquo;) that sweeps to an account designated by Oramed (which account will, unless prohibited by the
    applicable banking institution, have a signatory designated by Oramed), and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.3pt; text-align: justify; text-indent: -31.7pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.15pt; text-align: justify; text-indent: -31.5pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70%
    of the net cash proceeds received by the Company from any debt or equity financing, including the Sales Agreement (as defined below) (other
    than (w) the AR Line, (x) the Equity Lines of Credit, (y) the Subordinate Debt (as defined below) and (z) up to $30.0 million of indebtedness
    (which indebtedness may be incurred before, on, or after the Assumption Closing) owed by the Company to B. Riley Securities (the &ldquo;<U>B.
    Riley Indebtedness</U>&rdquo;) and which B. Riley Indebtedness may be secured by the proceeds of the Equity Lines of Credit or the Sales
    Agreement)) will be directed by the Company to be paid directly by the applicable lender or investor to Oramed or, if the financing source
    cannot or will not do so, then instead deposited into a blocked account that sweeps to an account designated by Oramed (which account
    will, unless prohibited by the applicable banking institution, have a signatory designated by Oramed);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.15pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U>, that the mandatory prepayment
    requirements under clauses (i) and (ii) above shall not begin until after the earlier of (a) April 1, 2024 and (b) the date upon which
    all the Yorkville Debentures and the B. Riley Indebtedness are repaid in full. For the avoidance of doubt, the mandatory prepayment terms
    set forth in this section (including the foregoing proviso) shall not alter, limit, or restrict in any manner the repayment terms (including
    applicable repayment timelines) set forth in the &ldquo;Maturity and Repayment&rdquo; section or in any other section of this Term Sheet.
    The Company&rsquo;s outstanding convertible debentures dated March 21, 2023 (the &ldquo;<U>Yorkville Debentures</U>&rdquo;) issued to
    Yorkville and which are outstanding as of the date hereof.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Interest:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Note will bear interest at a per annum rate equal to the Secured Overnight Financing Rate (&ldquo;<U>SOFR</U>&rdquo;) plus 8.5%, which shall be payable in-kind by being capitalized and added to the principal amount of the Note, on a monthly basis. Upon the occurrence and during the continuance of an event of default, at the election of the Investor, the Note will bear interest at a default rate of SOFR plus 15.0%, which shall be payable in-kind by being capitalized and added to the principal amount of the Loan, on a monthly basis. &nbsp;In each case, SOFR will be subject to a 4.0% floor.</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>

<TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exit Fee:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If the Note is not repaid in full on or prior to the date that is six (6) months from the Closing Date, an exit fee equal to 3.0% of the Initial Principal Amount (the &ldquo;<U>Exit Fee</U>&rdquo;) shall be fully earned on such date, which Exit Fee shall be due and payable upon repayment of the Note in full. </FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conversion:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">None.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Security, Collateral and Rank:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will be designated by the Company as
    senior secured indebtedness and will be guaranteed by all existing or future formed, direct and indirect, subsidiaries of the Company;
    <U>provided</U> that the delivery of the guaranty of the Company&rsquo;s subsidiary, Scilex Pharmaceuticals Inc. (&ldquo;<U>Scilex Pharmaceuticals</U>&rdquo;),
    shall not be required until the earlier of (x) ten (10) days following the Closing (the &ldquo;<U>Post-Closing Joinder Period</U>&rdquo;)
    and (y) the date on which a subordination agreement is entered into between Oramed and eCapital Healthcare Corp. (&ldquo;<U>eCap</U>&rdquo;)
    (the &ldquo;<U>eCap ICA</U>&rdquo;).</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the Post-Closing Joinder Period,
    Scilex Pharmaceuticals shall be restricted by the same negative covenants set forth in the Note as the Company and each of its subsidiaries
    who are parties to or guarantors of the Note at Closing (and which negative covenants shall, for the avoidance of doubt, be consistent
    with those set forth in the HB Documents) except that any exceptions to such negative covenants that permit the incurrence of indebtedness
    for borrowed money (other than indebtedness incurred under the AR Line) shall not be available or applicable to Scilex Pharmaceuticals
    until such time as the eCap ICA is effective. For the avoidance of doubt, the only indebtedness for borrowed money of Scilex Pharmaceuticals
    or with respect to which its assets are subject or bound as of the date of this Term Sheet is and of the Closing will be the AR Line.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the Post-Closing Joinder Period and
    customary and mutually agreed permitted liens, the Note will be secured by a first priority security interest in and liens on all of the
    Company&rsquo;s and its subsidiaries&rsquo; assets (the &ldquo;<U>Collateral</U>&rdquo;), including, without limitation, a first priority security
    interest in the capital stock and other equity securities of Scilex Pharmaceuticals and each of the Company&rsquo;s other direct or indirect
    subsidiaries (the pledge of all of which shall be effective on the Closing Date), except for (I) any proceeds of the Equity Lines of Credit
    or Sales Agreement securing the B. Riley Indebtedness (as described below), (II) proceeds of the Equity Lines of Credit or funds returned
    from Hudson Bay, but only to the extent such proceeds are used to make Post-Closing Cash Payment (as defined in the Short Form Term Sheet),
    and (III) the following assets of Scilex Pharmaceuticals:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;Accounts
    receivable (and related assets to the extent required to collect such accounts receivable);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;the
    funding account for Scilex Pharmaceuticals&rsquo; accounts receivable credit facility with eCapital Healthcare Corp. (the &ldquo;<U>AR
    Line</U>&rdquo;);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;the
    accounts receivable collection account, all books and records relating to the foregoing, and all additions to and products, proceeds etc.
    thereof; and</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in">4.&nbsp;&nbsp;&nbsp;&nbsp;other
    accounts receivable assets, if any, as are agreed by the parties in the eCap ICA (collectively, the items described in 1 through 4, the
    &ldquo;<U>AR Facility Collateral</U>&rdquo;);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the Post-Closing Joinder Period and
    customary and mutually agreed permitted liens, the Note will be secured by a second priority security interest in (I) the proceeds of
    the Equity Lines of Credit or the Sales Agreement securing the B. Riley Indebtedness (as described below), (II) the AR Facility Collateral,
    subject to the eCap ICA and subject to customary 180 day remedies standstill period, and (III) the proceeds of the Equity Lines of Credit
    or amounts returned from Hudson Bay, in each case with respect to the Post-Closing Cash Payment (as defined in the Short Form Term Sheet).
    The Company will use its reasonable best efforts to assist Oramed in the implementation of the eCap ICA as soon as possible following
    the Closing Date.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will be senior in right of payment to
    all of the Company&rsquo;s and its subsidiaries&rsquo; existing and future indebtedness, except (i) for the Anticipated Debt (as defined
    below) and the obligation of the Company under the Short Form Term Sheet to make the Post-Closing Cash Payment, and (ii) for payment of
    the Note using proceeds of the AR Line, which will be subject to the conditions set forth in the AR Line and eCap ICA. So long as any
    Note remains outstanding, the Company will not, without express written consent from the Investor, incur any new debt, except for (a)
    trade payables in the ordinary course of business, and (b) such other indebtedness designated as permitted indebtedness in the definitive
    documentation and as reflected in this Term Sheet. The AR Line, the Post-Closing Cash Payment (as defined in the Short Form Term Sheet),
    and the Anticipated Debt will be designated as permitted indebtedness (subject to the caps and other limitations thereon set forth herein
    and in definitive documentation).</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Springing control agreements with respect
to the Company&rsquo;s and its subsidiaries&rsquo; deposit accounts (other than the Blocked Account (following implementation thereof)
which the Company will not have access to and shall be operated at the direction of the Investor and will sweep the funds therein to
an account designated by the Investor on a daily basis to pay down the obligations under the Note), securities, accounts, and commodity
accounts (with excluded account provisions consistent with the Hudson Bay Documents (as defined in the Short Form Term Sheet)) shall
be required to be implemented as soon as practicable, but not later than thirty (30) days following the Closing. Such control agreements
shall be in form and substance reasonably acceptable to Investor. To the extent separate bank accounts are necessary to comply with the
foregoing requirement, Company will establish separate bank accounts to enable the implementation of such control agreements as promptly
as practicable, but in no event more than 14 days after the Closing Date. Promptly following the execution of this Term Sheet, the Company
shall provide the Investor with reasonably detailed information regarding the scope of the bank accounts to be established.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">Upon the reasonable request of the Investor, the
    Company shall amend the organizational documents of one or more of its subsidiaries at the Closing in connection with the implementation
    of the rights granted under the security agreements.</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; font-size: 10pt; width: 25%; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Covenants:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will contain customary affirmative and
    negative covenants (the &ldquo;<U>Covenants</U>&rdquo;), including that:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will not incur or guarantee any other debt, except for (a) the AR Line, the aggregate principal amount of which shall not at any
    time exceed $30.0 million, (b) either the B. Riley Indebtedness or the Yorkville Debentures (but, for the avoidance of doubt, not both)
    (either such debt, the &ldquo;<U>Anticipated Debt</U>&rdquo;), the aggregate principal amount such Anticipated Debt shall not at any time
    exceed $30.0 million, (c) the Post-Closing Cash Payment (as defined in the Short Form Term Sheet), (d) subordinated debt in an aggregate
    principal amount not to exceed at any time $30.0 million (the &ldquo;<U>Subordinate Debt</U>&rdquo;), (e) additional subordinated debt,
    but only to the extent that the proceeds thereof will be used to repay the Note in full concurrently with the incurrence thereof, and
    (f) other customary exceptions acceptable to the Investor and set forth in the definitive documentation (each of clauses (a) through (f),
    &ldquo;<U>Permitted Debt</U>&rdquo;);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;on
    or about November 12, 2023, the Company may file a shelf registration on Form S-3 and simultaneously enter into an at-the-market sales
    agreement with a financial institution acceptable to the Investor (it being acknowledged and agreed that B. Riley Securities shall be
    acceptable to the Investor) (the &ldquo;<U>Sales Agreement</U>&rdquo;), each for an amount no less than 150.0% of the Investment Amount.
    Once the Form S-3 is declared effective and the Sales Agreement is executed, the Company may terminate the B. Riley Equity Line of Credit
    in compliance with the terms thereof;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will seek a court order from the Bankruptcy Court to extend the existing lock-up on all shares of Common Stock owned by Sorrento
    shareholders that were issued in January 2023 as part of Sorrento&rsquo;s dividend of Shares of Common Stock to its stockholders (approximately
    76.0 million shares) to March 31, 2024;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">4.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will enter into voting agreements with respect to the securities transferred pursuant to the Securities Transfer, to approve the
    transactions contemplated hereby, including the issuance of shares with respect to the Equity Line of Credit, as may be required under
    Delaware law, stock exchange rules, including the 20% rule, or otherwise.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">5.&nbsp;&nbsp;&nbsp;&nbsp;the
    Note will not contain any financial covenants other than a covenant requiring that the Company and its subsidiaries maintain at all times
    at least (a) for the first period from Closing until the 60<SUP>th</SUP> day thereafter, $1.0 million of the sum of (i) unrestricted cash
    and cash equivalents and (ii) availability under the AR Line (such sum, &ldquo;<U>Liquidity</U>&rdquo;), (b) for the period beginning
    on the 61<SUP>st</SUP> day from Closing until the 180<SUP>th</SUP> day thereafter, $3.0 million of Liquidity, and (c) thereafter, $5.0
    million of Liquidity;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">6.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will obtain all necessary consents and approvals in connection with the Note and the New Warrants, including approval of the Company&rsquo;s
    and the guarantors&rsquo; boards of directors and shareholders;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">7.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will not transfer any assets, pay any dividends, make any investments, enter into any affiliated transactions, repurchase stock,
    or make any distributions outside the ordinary course of business as set forth in the definitive documentation;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">8.&nbsp;&nbsp;&nbsp;&nbsp;a
    customary passive holding company covenant with respect to the BRE (as defined in the Short Form Term Sheet), except in connection with
    any transaction in which the Note is repaid in full; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">9.&nbsp;&nbsp;&nbsp;&nbsp;all
    written notices regarding breaches or defaults by the Company received by the Company from License counterparties shall be provided in
    writing to Oramed within (i) 2 business days for any such notices relating to any Material License Agreement/Material Licenses (as defined
    below), and (ii) 4 business days for any such notices relating to all other license agreements or licenses.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, the restricted debt
    payment covenant to be set forth in the Note will expressly permit the payment of the B. Riley Indebtedness .</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Representations and Warranties:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; width: 75%"><FONT STYLE="font-size: 10pt">Customary for transactions of this type, including without limitation, representations and warranties in respect of the Company and the Collateral.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Events of Default:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Customary for transactions of this type, including
    for the avoidance of doubt, the failure to make the payments described above under &ldquo;Maturity and Repayment&rdquo;, in each case,
    subject to notice and grace periods no less favorable to the Company than those reflected in the HB Documents (as defined in the Short
    Form Term Sheet), and including the following events of default:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;Company is in breach or default
    under any Material License Agreement or Material License (each as defined below) and the licensor has threated (in writing) to (A) terminate
    such Material License Agreement or Material License and such termination would be materially adverse to the Company or the Business or
    (B) otherwise take an action (including, without limitation, any modification, suspension or revocation of such Material License Agreement
    or Material License) that would be materially adverse to the Company or the Business, and, in each case, such breach (solely to the extent
    curable under the terms of the Material License Agreement) is not cured within the applicable cure period (or, if none is specified, within
    seven (7) Business Days) or otherwise waived by the licensor; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(ii)&nbsp;&nbsp;&nbsp;The licensor under any Material
    License Agreement has (A) terminated such Material License Agreement or Material License on the basis of a breach or default by the Company
    or otherwise for cause and such termination would be materially adverse to the Company or the Business or (B) otherwise taken any action
    (including, without limitation, any modification, suspension or revocation of such Material License Agreement or Material License) that
    is materially adverse to the Company or the Business;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><U>provided that</U> the breaches or
    defaults set forth on a Schedule that either occurred and are continuing or are anticipated, in each case, as of the date of the Note
    will not constitute Events of Default.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As used herein: (a) &ldquo;<U>Material License
    Agreement</U>&rdquo; means (i) those license agreements (as amended, supplemented or modified, including after Closing) set forth on a
    Schedule at Closing, (ii) all License Agreements disclosed as material in SEC Filings of the Company from time to time, and (iii) all
    other license agreements, whether now in existence or entered into following the Closing, that are or become material to the Company and
    the Business from time to time; and (b) &ldquo;<U>Material License</U>&rdquo; means any License (as amended, supplemented or modified,
    including after Closing) under a Material License Agreement.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: left; font-size: 10pt; width: 25%; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Warrants:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the Closing, the Company will issue Investor
    a warrant to purchase 4.5 million shares of Common Stock (the &ldquo;<U>Closing Warrant</U>&rdquo;) at an exercise price of $0.01 per
    share. Except as set forth below, the Closing Warrant will be exercisable from and after the earlier of (i) the Maturity Date and (ii)
    the date on which the Note has been repaid in full (such earlier date, the &ldquo;<U>Exercise Date</U>&rdquo;).&nbsp; The Closing Warrant
    will expire on the date that is 5 years following the Closing Date and will be exercisable for cash or using standard cashless exercise
    provisions.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, if the Note has not been paid in
    full prior to the date that (each date a &ldquo;<U>SW Effective Date</U>&rdquo;) is: (i) 180 days following the date of the Closing, the
    Company will on such date issue Investor an additional warrant to purchase 2.125 million shares of Common Stock; (ii) 270 days following
    the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125 million shares of Common Stock; (iii)
    360 days following the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125 million shares of
    Common Stock; and (iv) 450 days following the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125
    million shares of Common Stock (each, a &ldquo;<U>Subsequent Warrant</U>&rdquo; and collectively, the &ldquo;<U>Subsequent Warrants</U>&rdquo;
    and together with the Closing Warrant, the &ldquo;<U>New Warrants</U>&rdquo;), with each Subsequent Warrant having an exercise price of
    $0.01 per share; provided that if all of the Subsequent Warrants are issued at Closing and exercisable upon the occurrence of the Exercise
    Date, then, for the avoidance of doubt, no additional warrants will be issued. In furtherance of the preceding sentence, the Subsequent
    Warrants (representing in the aggregate to 8.5 million share of Common Stock) shall be issued to the Investor at the Closing but shall
    not become effective until the applicable SW Effective Date and only if the Note has not been paid in full prior to such SW Effective
    Date. All Subsequent Warrants with an SW Effective Date that follows the date on which the Note is repaid in full shall terminate in all
    respects. Following the effectiveness thereof, each Subsequent Warrant that has become effective as of an SW Effective Date will be exercisable
    from and after the Exercise Date. Each Subsequent Warrant will expire on the date that is 5 years following the Closing Date and will
    be exercisable for cash or using standard cashless exercise provisions.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, if at any time
    following the Closing, Henry Ji or Jaisim Shah sells (directly or indirectly) any of the shares of capital stock of the Company, then
    he shall provide notice to Scilex and Oramed not less than 5 days prior to any such sale and specify the date of the sale (&ldquo;<U>Management
    Sale Date</U>&rdquo;); <U>provided</U>, <U>however</U>, that in no event shall any of the following constitute a sale or other transfer
    that triggers or otherwise constitutes a Management Sale Date: (a) any exercise of stock options to acquire shares of capital stock of
    the Company or any net exercise to pay or otherwise satisfy withholding taxes upon any exercise of such options, (b) any transfer of shares
    of capital stock of the Company as a bona fide gift or charitable contribution or for estate planning or other similar purposes (e.g.,
    transfers to family members, as part of divorce settlements, etc.) and (c) such other customary exceptions applicable to restrictions
    on transfer in customary lock-up agreements as reasonably agreed upon by the Company and the Investor in definitive documents; <U>provided</U>
    that in each case, such permitted transfers shall not operate as a means to avoid triggering a Management Sale Date and the transferee
    of such shares shall agree to be subject to the same notification provisions as Mr. Ji and Mr. Shah and, subject to the same exceptions
    on transfer, any subsequent sale of any shares of capital stock of the Company by such transferee shall constitute a Management Sale Date.&nbsp;
    Effective upon a Management Sale Date and without the requirement of any further action on the part of Oramed, the Closing Warrant and
    each Subsequent Warrant for which an SW Effective Date has occurred and that is effective as of the Management Sale Date will become immediately
    exercisable and (ii) each Subsequent Warrant for which an SW Effective Date that occurs and that becomes effective following the Management
    Sale Date will be immediately exercisable upon the applicable SW Effective Date.&nbsp; As of the date of this term sheet, Henry Ji owns
    approximately 603,000 shares of Common Stock and approximately 11,000,000 options to acquire shares of Common Stock and Jaisim Shah owns
    approximately 112,000 shares of Common Stock and approximately 11,000,000 options to acquire shares of Common Stock. Henry Ji and Jaisim
    Shah will each execute an agreement with Oramed and Scilex acknowledging and agreeing to such notice obligations.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, upon the Closing, and following the
    Company&rsquo;s purchase of the outstanding public warrants to purchase shares of Common Stock currently held by Sorrento (the &ldquo;<U>Public
    Warrants</U>&rdquo;), the Company will transfer to Investor Existing Warrants representing the right to purchase 4.0 million shares of
    Common Stock (such transferred Public Warrants, the &ldquo;<U>Transferred Warrants</U>&rdquo; and together with the New Warrants, the
    &ldquo;<U>Warrants</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, there will be no restrictions
    on sale or transfer of any of the Warrants (whether or not exercisable at that time) or the Common Stock issuable upon exercise of the
    Warrants (other than such restrictions as may be applicable under securities laws or other applicable laws).</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; text-align: left; width: 25%"><FONT STYLE="font-size: 10pt"><B>Limitations on Beneficial Ownership:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything herein to the contrary
    the Warrants shall not be exercisable if after such exercise the Investor (or any number of investors acting in concert so as to form
    a &ldquo;group&rdquo;) would beneficially own more than 9.9% of the Common Stock then outstanding (as defined under Section 13(d) of the
    Securities Act of 1933, as amended) (the &ldquo;<U>Beneficial Ownership Limitation</U>&rdquo;). The Investor may, at any time, elect to
    reduce the Beneficial Ownership Limitation from 9.9% to 4.9%. Any such reduction will be effective immediately.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the exercise of the Warrants into Common Stock
    would otherwise result in the Investor exceeding the Beneficial Ownership Limitation, the Company will only issue up to that number of
    shares that would amount to the Investor&rsquo;s reaching the Beneficial Ownership Limitation and the balance will be paid in cash or held in
    abeyance by the Company.</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-right: 5.4pt; font-size: 10pt; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Registration Rights:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall file on or prior to the date
    that is 30 days following the Closing Date and have declared effective on or prior to the date that is 60 days following the Closing Date
    (or the date that is 90 days following the Closing Date if subject to a full review by the SEC) a registration statement on Form S-1 (or
    Form S-3 if available) covering the resale of the shares underlying the Warrants, to the extent such underlying shares are eligible for
    registration under applicable securities laws. Beginning on the date that is 30 days following the Closing Date and the date that is 60
    days following the Closing Date (and the date that is 90 days following the Closing if subject to a full review by the SEC), respectively,
    and for every subsequent 30-day period that such registration statement has not been filed or declared effective, as applicable, the Company
    shall pay Investors 2.0% of the sum of the Amount Outstanding and the aggregate Exercise Price of the New Warrants for which the underlying
    shares of Common Stock are eligible to be registered in cash as liquidated damages. Liquidated damages for any 30-day period in which
    the registration statement is actually filed or declared effective will be pro-rated for that 30-day period. Any shares underlying New
    Warrants that were not eligible for registration at the time the above referenced registration statement on Form S-1 (or Form S-3, if
    applicable) is filed with the SEC will be eligible for registration under similar terms and conditions to be set forth in a registration
    rights agreement containing customary terms, provided that the Company will not be required to file more than two registration statements
    on Form S-1 in respect thereof within any 12 month period.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the Closing, the Company shall file
    within fifteen (15) days following the Closing a prospectus supplement to the Registration Statement on Form S-1 (File No. 333-268603)
    to reflect that the Transferred Warrants have been transferred to the Investor and update the Selling Securityholder section thereof to
    add Investor as a Selling Securityholder.</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Definitive Agreements:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The definitive documents in connection with the
    transactions will contain such additional and supplementary provisions, including, without limitation, customary representations, warranties,
    covenants, agreements, events of default, change of control provisions, payments and remedies, as are appropriate to preserve and protect
    the economic benefits intended to be conveyed to each of the Company and Investor and are customary for a transaction of this type.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The closing of the Note will occur upon the satisfaction
    or waiver of standard closing conditions set forth in definitive documents (the &ldquo;<U>Closing</U>&rdquo; and the date on which the
    Closing occurs, the &ldquo;<U>Closing Date</U>&rdquo;).</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Board Observers; Information Rights:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until the obligations under the Note have been
    repaid in full, the Investor shall have the right to designate one (1) observer (the &ldquo;<U>Board Observer</U>&rdquo;) to attend meetings
    of the Board of Directors of the Company, committees and sub-committees thereof, and the boards of directors (or similar governing body)
    and committees and sub-committees of any direct or indirect subsidiary of the Company (collectively, the &ldquo;<U>Company Boards</U>&rdquo;);
    <U>provided</U> that such Board Observer shall have no voting rights. All materials delivered to the members of the Company Boards shall
    be contemporaneously provided to the Board Observer, including any actions to be taken by written consent. With respect to any subsidiary
    of the Company that is manager-managed or GP-managed (<I>i.e.</I>, LLCs or LPs), all written consents thereof shall be promptly provided
    to the Board Observer following execution. The Board Observer shall be subject to customary confidentiality terms (it being understood
    and agreed that all materials provided to the observer in such capacity shall be received on a confidential basis). Notwithstanding the
    foregoing, the Board Observer may be excluded by the directors from attending any portion of a Company Board meeting and certain materials
    that would otherwise be required to be furnished to the Board Observer hereunder may be withheld or redacted from distribution if: (x)
    such attendance would directly jeopardize Company&rsquo;s or any of its subsidiaries&rsquo; ability to assert the attorney-client privilege
    with respect to the matters discussed or disclosed, and (y) the matters discussed or disclosed relate to a matter involving a direct conflict
    of interest with the Board Observer, the Investor or their respective affiliates (including matters directly relating to this term sheet
    or the terms of any of the definitive documents, the Investor or their affiliates, in each case, as reasonably determined in good faith
    by the Company&rsquo;s Board of Directors; <U>provided</U>, that if &nbsp;the Board Observer disagrees with any proposed &nbsp;exclusion
    under clause (x) or (y) above, the Company shall at the Board Observer&rsquo;s written direction be required to obtain a recommendation
    in writing by outside counsel that the Board Observer be excluded in order to preserve privilege or avoid a direct conflict.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that the Investor remains entitled
    to have a Board Observer, the Company shall (i) reimburse the reasonable and documented out-of-pocket expenses incurred by the Board Observer
    prior to the date that is 18 months after the Closing to the extent that such expenses would be reimbursed for any director (independent
    or otherwise) of the Company, with such reimbursement obligation capped at $10,000 per year (and such $10,000/year cap being pro rated
    for any partial year), and (ii) pay to the Board Observer a fee equivalent to the fees paid to independent directors of the Company for
    a period ending on the 18 month anniversary of the Closing, with such fees capped at $80,000 per year (and such $80,000/year cap being
    pro rated for any partial year).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Without limiting the foregoing, the Investor will
    have customary information rights, including a right to receive annual and quarterly financial statements, annual budget, and monthly
    reporting to include (i) a profit and loss statement with detail by product for (a) net sales, (b) cost of sales (c) royalty/milestone
    obligations for the period, (ii) operating expenses by line item (<I>i.e., </I>salary, R&amp;D, legal, etc.) (iii) Gross-to-Net report
    (&ldquo;GtN&rdquo;), including a breakdown by product between WAC and net revenues (including contract price discounts, cash discounts,
    rebates, distribution fees, etc.), and (iv) new and total scripts by product (in each case of the foregoing clauses (i)-(iv), subject
    to deadlines to be mutually agreed, but in no event earlier than 30 days after month-end). The Board Observer shall have the right to
    receive such additional information regarding the Company as the Board Observer shall reasonably request, which shall be provided to the
    Board Observer reasonably promptly following such request and the Board Observer shall be permitted to share such information with C-Suite
    level executives of Investor on a confidential basis.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Board Observer and Investor will acknowledge and
    agree that any information so provided or received as a result of the foregoing observation and information rights may be material non-public
    information for purposes of federal securities laws and the Observer and Investor shall not engage in unlawful trading of the Company&rsquo;s
    or Sorrento&rsquo;s securities when in possession of such information.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>BINDING TERMS</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Banks and Brokers:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; width: 75%"><FONT STYLE="font-size: 10pt">The Company is responsible for payment of all banker and broker fees. The Company agrees to indemnify and hold Investor harmless from and against any loss, cost, damage or expense arising out of any claim for any item related to financing including banking fees and brokerage commissions alleged to be due on account of the placing of the investment.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Diligence, Expenses and Fees:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All advisor and legal fees, costs and expenses
    incurred by Investor in connection with the SPA and the Senior DIP shall be paid or reimbursed by the Investor; <U>provided</U> that,
    if the Closing Date occurs, the Company agrees to pay at the Closing reasonable and documented out-of-pocket costs and expenses incurred
    by Investor through and including the Closing Date in connection with the SPA and the Senior DIP of up to, together with the costs and
    expenses of Investor reimbursed by the Company pursuant to the paragraph immediately below, $2,910,000 in the aggregate (with up to $1,910,000
    of such aggregate amount payable in cash upon the Closing and up to $1.0 million of such aggregate amount payable by being added to and
    included in the calculation of the Initial Principal Amount).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the Closing Date occurs, the Company shall
    pay or reimburse Investor or its designee(s) for all reasonable costs and expenses incurred in connection with Investor&rsquo;s preparation,
    negotiation and review of this Term Sheet and the definitive documentation in respect of the transactions contemplated hereby at the Closing;
    <U>provided</U>, that such amounts reimbursed by the Company, together with the amounts the Company pays to the Investor for costs and
    expenses incurred by Investor in connection with the SPA and the Senior DIP, shall not exceed $2,910,000 for all costs and expenses incurred
    through and including the Closing Date (with up to $1,910,000 of such aggregate amount payable in cash upon the Closing and up to $1.0
    million of such aggregate amount payable by being added to and included in the calculation of the Initial Principal Amount).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, all fees, costs and
    expenses of H.C. Wainwright &amp; Co., Proskauer Rose LLP, Gray Reed LLP, and Richards, Layton &amp; Finger P.A. shall be deemed reasonable
    for purposes of this section.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment instructions for Investor&rsquo;s legal counsel
    and advisors will be delivered by the Investor to the Company not less than one (1) business day prior to the Closing.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Indemnification:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The definitive documents in connection with the transactions will contain usual and customary lender indemnification provisions for the benefit of Investor relating to losses, costs, damages or expenses relating to the transactions contemplated by this Term Sheet or any claim made by Hudson Bay or claims from third parties arising from any financing or advisory exclusivity, refusal rights, most favored nations or similar agreements or arrangements, or with respect to the SPA, the Senior DIP or the transactions contemplated thereby.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Equity Line of Credit, Financings:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sorrento and the Oramed shall provide written
    consent to Company not less than one (1) Business Day after this term sheet is issued, providing that, notwithstanding any other agreement
    among the parties hereto (including, without limitation, any restrictions under the SPA), Company shall be permitted, from and after such
    date to incur any equity financing, including, without limitation, any advances under the Equity Lines of Credit, or any indebtedness
    financing that will constitute Permitted Debt under clauses (a) - (d) of the definition thereof, above (and, for the avoidance of doubt,
    subject to the applicable caps set forth herein on such Permitted Debt).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall provide the Investor a reasonable
    opportunity to review and provide reasonable comments to any documentation in respect of any Permitted Debt to be incurred or guaranteed
    prior to the Closing Date.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>eCap ICA:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Company will (i) reasonably cooperate with Oramed in connection with its negotiation of the eCap ICA and (ii) use its commercially reasonable efforts to assist Oramed in finalizing the eCap ICA so that it is entered into at the Closing.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Governing Law:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This Term Sheet and the definitive agreements to be executed by the parties at Signing (as described below) shall be governed by and construed in accordance with the laws of the State of New York without regard to any conflict of law&rsquo;s provisions. The state and Federal courts residing in The Borough of Manhattan in New York City shall have exclusive jurisdiction in any action to enforce, interpret or construe any provision hereof. Each party hereby irrevocably waives any right it may have, and agrees not to request, a jury trial for the adjudication of any dispute hereunder or in connection with or arising out of this Term Sheet or any transaction contemplated hereby.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Miscellaneous:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This Term Sheet may be executed via electronic transmission and may be executed in separate counterparts, each of which shall be deemed to be an original and all of which together shall constitute a single instrument. In the event that any signature is delivered by an e-mail which contains a portable document format (.pdf) file of an executed signature page, or via DocuSign, Adobe Sign, or a similar electronic signature service, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof. Execution and delivery of this Term Sheet by electronic signature is legal, valid and binding for all purposes.</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page to Term Sheet</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>SCILEX HOLDING COMPANY</B> <B></B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Stephen Ma</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Stephen Ma</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Nadav Kidron</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Nadav Kidron</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Josh Hexter</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Josh Hexter</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>SORRENTO THERAPEUTICS INC.</B> <B></B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Mohsin Y. Meghji</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Mohsin Y. Meghji</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Restructuring Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">11</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

















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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ea185123ex99-2_oramed.htm
<DESCRIPTION>NOTE TERM SHEET, DATED SEPTEMBER 11, 2023 AMONG THE COMPANY, SCILEX HOLDING COMPANY, AND SORRENTO THERAPEUTICS, INC
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TERM SHEET FOR<BR>
SENIOR SECURED NOTE AND WARRANTS<BR>
AND RELATED MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>September 11, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>PARTIES</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 25%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Company:</B></FONT></TD>
    <TD STYLE="width: 75%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Scilex Holding Company, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo; or &ldquo;<U>SCLX</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Investor:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Oramed Pharmaceuticals, Inc. (the &ldquo;<U>Investor</U>&rdquo; or &ldquo;<U>Oramed</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Sorrento:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Sorrento Therapeutics Inc., a Delaware corporation (&ldquo;<U>Sorrento</U>&rdquo;).</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>NON-BINDING TERMS</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Securities:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In exchange for the consummation of the DIP Assumption
    (as defined in that certain Non-Binding Term Sheet, executed on the date hereof, between the Company, Investor and Sorrento and presented
    at mediation (such term sheet, the &ldquo;<U>Short Form Term Sheet</U>&rdquo;)), the Company will issue a Senior Secured Note (the &ldquo;<U>Note</U>&rdquo;),
    as described below. The initial principal balance of the Note shall be an amount equal to the unpaid principal and accrued and unpaid
    interest under the Senior DIP Loan agreement (as defined in the Short Form Term Sheet) (the &ldquo;<U>Initial Principal Amount</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As contemplated pursuant to the Short Form Term
    Sheet, the definitive documents in respect of the Note shall be substantially the same as the HB Documents (as defined in the Short Form
    Term Sheet) except as expressly modified by this term sheet (this &ldquo;<U>Term Sheet</U>&rdquo;) or as otherwise agreed by the Investor
    and the Company. All references herein to terms that are &ldquo;customary for transactions of this type&rdquo; (or similar language) shall
    be deemed to refer to such terms as are set forth in the HB Documents to the extent addressed therein.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Maturity and Repayment:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will mature on the 18-month anniversary
    of the Closing (as described below), except as otherwise provided in the Note (the &ldquo;<U>Maturity Date</U>&rdquo;). The Company shall
    make principal payments, without premium or penalty, in respect of the Note as follows:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.0
    million on the 90th day following the Closing;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.0
    million on the 180th day following the Closing; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.0
    million on 270th day of the Closing and every 90 days thereafter;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-align: justify; text-indent: -27.35pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U> that each such principal payment
    amount shall be reduced on a dollar-for-dollar basis by the amount of any mandatory or voluntary prepayments made prior to the date of
    such principal payment amount. If a principal payment would be due on a date that is not a business day, then payment shall be made on
    the next business day. The aggregate outstanding principal amount of the Note (the &ldquo;<U>Amount Outstanding</U>&rdquo;), together
    with any accrued but unpaid interest, shall be due and payable in full on the Maturity Date or, at the written election of the Investor,
    upon an uncured Event of Default.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Voluntary Prepayments:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note may be prepaid, in whole or in part,
    at the option of the Company, from time to time without premium or penalty (except as set forth in the next paragraph), in minimum amounts
    to be agreed, upon two (2) business days&rsquo; prior notice (which notice may be conditioned upon the occurrence of a refinancing or
    other event).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any voluntary prepayment occurs on or prior
    to the 1-year anniversary of Closing, such voluntary prepayment will be accompanied by a customary 50.0% interest make-whole on the portion
    of the Note so prepaid.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Mandatory Prepayments:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will be required to repay the Note
    as follows, without premium or penalty:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.3pt; text-align: justify; text-indent: -31.7pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70%
    of the net cash proceeds to which the Company is entitled to from advances made under the standby equity purchase agreement entered into
    between the Company and YA II PN, Ltd. (&ldquo;<U>YA</U>&rdquo;), dated November 17, 2022, as amended by an amended and restated standby
    equity purchase agreement on February 8, 2023 (the &ldquo;<U>YA ELOC</U>&rdquo;) and/or the Standby Equity Purchase Agreement dated January
    8, 2023 with B. Riley Principal Capital II (&ldquo;<U>B. Riley Principal</U>&rdquo;) (the &ldquo;<U>B. Riley Equity Line of Credit</U>&rdquo;,
    and together with the YA ELOC, the &ldquo;<U>Equity Lines of Credit</U>&rdquo;) will be directed by the Company to be paid directly by
    YA or the B. Riley Principal to Oramed or, if the financing source cannot or will not do so, then instead deposited into a blocked account
    (the &ldquo;<U>Blocked Account</U>&rdquo;) that sweeps to an account designated by Oramed (which account will, unless prohibited by the
    applicable banking institution, have a signatory designated by Oramed), and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.3pt; text-align: justify; text-indent: -31.7pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.15pt; text-align: justify; text-indent: -31.5pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70%
    of the net cash proceeds received by the Company from any debt or equity financing, including the Sales Agreement (as defined below) (other
    than (w) the AR Line, (x) the Equity Lines of Credit, (y) the Subordinate Debt (as defined below) and (z) up to $30.0 million of indebtedness
    (which indebtedness may be incurred before, on, or after the Assumption Closing) owed by the Company to B. Riley Securities (the &ldquo;<U>B.
    Riley Indebtedness</U>&rdquo;) and which B. Riley Indebtedness may be secured by the proceeds of the Equity Lines of Credit or the Sales
    Agreement)) will be directed by the Company to be paid directly by the applicable lender or investor to Oramed or, if the financing source
    cannot or will not do so, then instead deposited into a blocked account that sweeps to an account designated by Oramed (which account
    will, unless prohibited by the applicable banking institution, have a signatory designated by Oramed);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.15pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U>, that the mandatory prepayment
    requirements under clauses (i) and (ii) above shall not begin until after the earlier of (a) April 1, 2024 and (b) the date upon which
    all the Yorkville Debentures and the B. Riley Indebtedness are repaid in full. For the avoidance of doubt, the mandatory prepayment terms
    set forth in this section (including the foregoing proviso) shall not alter, limit, or restrict in any manner the repayment terms (including
    applicable repayment timelines) set forth in the &ldquo;Maturity and Repayment&rdquo; section or in any other section of this Term Sheet.
    The Company&rsquo;s outstanding convertible debentures dated March 21, 2023 (the &ldquo;<U>Yorkville Debentures</U>&rdquo;) issued to
    Yorkville and which are outstanding as of the date hereof.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Interest:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Note will bear interest at a per annum rate equal to the Secured Overnight Financing Rate (&ldquo;<U>SOFR</U>&rdquo;) plus 8.5%, which shall be payable in-kind by being capitalized and added to the principal amount of the Note, on a monthly basis. Upon the occurrence and during the continuance of an event of default, at the election of the Investor, the Note will bear interest at a default rate of SOFR plus 15.0%, which shall be payable in-kind by being capitalized and added to the principal amount of the Loan, on a monthly basis. &nbsp;In each case, SOFR will be subject to a 4.0% floor.</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>

<TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exit Fee:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If the Note is not repaid in full on or prior to the date that is six (6) months from the Closing Date, an exit fee equal to 3.0% of the Initial Principal Amount (the &ldquo;<U>Exit Fee</U>&rdquo;) shall be fully earned on such date, which Exit Fee shall be due and payable upon repayment of the Note in full. </FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conversion:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">None.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Security, Collateral and Rank:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will be designated by the Company as
    senior secured indebtedness and will be guaranteed by all existing or future formed, direct and indirect, subsidiaries of the Company;
    <U>provided</U> that the delivery of the guaranty of the Company&rsquo;s subsidiary, Scilex Pharmaceuticals Inc. (&ldquo;<U>Scilex Pharmaceuticals</U>&rdquo;),
    shall not be required until the earlier of (x) ten (10) days following the Closing (the &ldquo;<U>Post-Closing Joinder Period</U>&rdquo;)
    and (y) the date on which a subordination agreement is entered into between Oramed and eCapital Healthcare Corp. (&ldquo;<U>eCap</U>&rdquo;)
    (the &ldquo;<U>eCap ICA</U>&rdquo;).</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the Post-Closing Joinder Period,
    Scilex Pharmaceuticals shall be restricted by the same negative covenants set forth in the Note as the Company and each of its subsidiaries
    who are parties to or guarantors of the Note at Closing (and which negative covenants shall, for the avoidance of doubt, be consistent
    with those set forth in the HB Documents) except that any exceptions to such negative covenants that permit the incurrence of indebtedness
    for borrowed money (other than indebtedness incurred under the AR Line) shall not be available or applicable to Scilex Pharmaceuticals
    until such time as the eCap ICA is effective. For the avoidance of doubt, the only indebtedness for borrowed money of Scilex Pharmaceuticals
    or with respect to which its assets are subject or bound as of the date of this Term Sheet is and of the Closing will be the AR Line.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the Post-Closing Joinder Period and
    customary and mutually agreed permitted liens, the Note will be secured by a first priority security interest in and liens on all of the
    Company&rsquo;s and its subsidiaries&rsquo; assets (the &ldquo;<U>Collateral</U>&rdquo;), including, without limitation, a first priority security
    interest in the capital stock and other equity securities of Scilex Pharmaceuticals and each of the Company&rsquo;s other direct or indirect
    subsidiaries (the pledge of all of which shall be effective on the Closing Date), except for (I) any proceeds of the Equity Lines of Credit
    or Sales Agreement securing the B. Riley Indebtedness (as described below), (II) proceeds of the Equity Lines of Credit or funds returned
    from Hudson Bay, but only to the extent such proceeds are used to make Post-Closing Cash Payment (as defined in the Short Form Term Sheet),
    and (III) the following assets of Scilex Pharmaceuticals:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;Accounts
    receivable (and related assets to the extent required to collect such accounts receivable);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;the
    funding account for Scilex Pharmaceuticals&rsquo; accounts receivable credit facility with eCapital Healthcare Corp. (the &ldquo;<U>AR
    Line</U>&rdquo;);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;the
    accounts receivable collection account, all books and records relating to the foregoing, and all additions to and products, proceeds etc.
    thereof; and</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in">4.&nbsp;&nbsp;&nbsp;&nbsp;other
    accounts receivable assets, if any, as are agreed by the parties in the eCap ICA (collectively, the items described in 1 through 4, the
    &ldquo;<U>AR Facility Collateral</U>&rdquo;);</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the Post-Closing Joinder Period and
    customary and mutually agreed permitted liens, the Note will be secured by a second priority security interest in (I) the proceeds of
    the Equity Lines of Credit or the Sales Agreement securing the B. Riley Indebtedness (as described below), (II) the AR Facility Collateral,
    subject to the eCap ICA and subject to customary 180 day remedies standstill period, and (III) the proceeds of the Equity Lines of Credit
    or amounts returned from Hudson Bay, in each case with respect to the Post-Closing Cash Payment (as defined in the Short Form Term Sheet).
    The Company will use its reasonable best efforts to assist Oramed in the implementation of the eCap ICA as soon as possible following
    the Closing Date.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will be senior in right of payment to
    all of the Company&rsquo;s and its subsidiaries&rsquo; existing and future indebtedness, except (i) for the Anticipated Debt (as defined
    below) and the obligation of the Company under the Short Form Term Sheet to make the Post-Closing Cash Payment, and (ii) for payment of
    the Note using proceeds of the AR Line, which will be subject to the conditions set forth in the AR Line and eCap ICA. So long as any
    Note remains outstanding, the Company will not, without express written consent from the Investor, incur any new debt, except for (a)
    trade payables in the ordinary course of business, and (b) such other indebtedness designated as permitted indebtedness in the definitive
    documentation and as reflected in this Term Sheet. The AR Line, the Post-Closing Cash Payment (as defined in the Short Form Term Sheet),
    and the Anticipated Debt will be designated as permitted indebtedness (subject to the caps and other limitations thereon set forth herein
    and in definitive documentation).</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Springing control agreements with respect
to the Company&rsquo;s and its subsidiaries&rsquo; deposit accounts (other than the Blocked Account (following implementation thereof)
which the Company will not have access to and shall be operated at the direction of the Investor and will sweep the funds therein to
an account designated by the Investor on a daily basis to pay down the obligations under the Note), securities, accounts, and commodity
accounts (with excluded account provisions consistent with the Hudson Bay Documents (as defined in the Short Form Term Sheet)) shall
be required to be implemented as soon as practicable, but not later than thirty (30) days following the Closing. Such control agreements
shall be in form and substance reasonably acceptable to Investor. To the extent separate bank accounts are necessary to comply with the
foregoing requirement, Company will establish separate bank accounts to enable the implementation of such control agreements as promptly
as practicable, but in no event more than 14 days after the Closing Date. Promptly following the execution of this Term Sheet, the Company
shall provide the Investor with reasonably detailed information regarding the scope of the bank accounts to be established.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">Upon the reasonable request of the Investor, the
    Company shall amend the organizational documents of one or more of its subsidiaries at the Closing in connection with the implementation
    of the rights granted under the security agreements.</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; font-size: 10pt; width: 25%; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Covenants:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note will contain customary affirmative and
    negative covenants (the &ldquo;<U>Covenants</U>&rdquo;), including that:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will not incur or guarantee any other debt, except for (a) the AR Line, the aggregate principal amount of which shall not at any
    time exceed $30.0 million, (b) either the B. Riley Indebtedness or the Yorkville Debentures (but, for the avoidance of doubt, not both)
    (either such debt, the &ldquo;<U>Anticipated Debt</U>&rdquo;), the aggregate principal amount such Anticipated Debt shall not at any time
    exceed $30.0 million, (c) the Post-Closing Cash Payment (as defined in the Short Form Term Sheet), (d) subordinated debt in an aggregate
    principal amount not to exceed at any time $30.0 million (the &ldquo;<U>Subordinate Debt</U>&rdquo;), (e) additional subordinated debt,
    but only to the extent that the proceeds thereof will be used to repay the Note in full concurrently with the incurrence thereof, and
    (f) other customary exceptions acceptable to the Investor and set forth in the definitive documentation (each of clauses (a) through (f),
    &ldquo;<U>Permitted Debt</U>&rdquo;);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;on
    or about November 12, 2023, the Company may file a shelf registration on Form S-3 and simultaneously enter into an at-the-market sales
    agreement with a financial institution acceptable to the Investor (it being acknowledged and agreed that B. Riley Securities shall be
    acceptable to the Investor) (the &ldquo;<U>Sales Agreement</U>&rdquo;), each for an amount no less than 150.0% of the Investment Amount.
    Once the Form S-3 is declared effective and the Sales Agreement is executed, the Company may terminate the B. Riley Equity Line of Credit
    in compliance with the terms thereof;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will seek a court order from the Bankruptcy Court to extend the existing lock-up on all shares of Common Stock owned by Sorrento
    shareholders that were issued in January 2023 as part of Sorrento&rsquo;s dividend of Shares of Common Stock to its stockholders (approximately
    76.0 million shares) to March 31, 2024;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">4.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will enter into voting agreements with respect to the securities transferred pursuant to the Securities Transfer, to approve the
    transactions contemplated hereby, including the issuance of shares with respect to the Equity Line of Credit, as may be required under
    Delaware law, stock exchange rules, including the 20% rule, or otherwise.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">5.&nbsp;&nbsp;&nbsp;&nbsp;the
    Note will not contain any financial covenants other than a covenant requiring that the Company and its subsidiaries maintain at all times
    at least (a) for the first period from Closing until the 60<SUP>th</SUP> day thereafter, $1.0 million of the sum of (i) unrestricted cash
    and cash equivalents and (ii) availability under the AR Line (such sum, &ldquo;<U>Liquidity</U>&rdquo;), (b) for the period beginning
    on the 61<SUP>st</SUP> day from Closing until the 180<SUP>th</SUP> day thereafter, $3.0 million of Liquidity, and (c) thereafter, $5.0
    million of Liquidity;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">6.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will obtain all necessary consents and approvals in connection with the Note and the New Warrants, including approval of the Company&rsquo;s
    and the guarantors&rsquo; boards of directors and shareholders;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">7.&nbsp;&nbsp;&nbsp;&nbsp;the
    Company will not transfer any assets, pay any dividends, make any investments, enter into any affiliated transactions, repurchase stock,
    or make any distributions outside the ordinary course of business as set forth in the definitive documentation;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">8.&nbsp;&nbsp;&nbsp;&nbsp;a
    customary passive holding company covenant with respect to the BRE (as defined in the Short Form Term Sheet), except in connection with
    any transaction in which the Note is repaid in full; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">9.&nbsp;&nbsp;&nbsp;&nbsp;all
    written notices regarding breaches or defaults by the Company received by the Company from License counterparties shall be provided in
    writing to Oramed within (i) 2 business days for any such notices relating to any Material License Agreement/Material Licenses (as defined
    below), and (ii) 4 business days for any such notices relating to all other license agreements or licenses.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, the restricted debt
    payment covenant to be set forth in the Note will expressly permit the payment of the B. Riley Indebtedness .</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Representations and Warranties:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; width: 75%"><FONT STYLE="font-size: 10pt">Customary for transactions of this type, including without limitation, representations and warranties in respect of the Company and the Collateral.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Events of Default:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Customary for transactions of this type, including
    for the avoidance of doubt, the failure to make the payments described above under &ldquo;Maturity and Repayment&rdquo;, in each case,
    subject to notice and grace periods no less favorable to the Company than those reflected in the HB Documents (as defined in the Short
    Form Term Sheet), and including the following events of default:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;Company is in breach or default
    under any Material License Agreement or Material License (each as defined below) and the licensor has threated (in writing) to (A) terminate
    such Material License Agreement or Material License and such termination would be materially adverse to the Company or the Business or
    (B) otherwise take an action (including, without limitation, any modification, suspension or revocation of such Material License Agreement
    or Material License) that would be materially adverse to the Company or the Business, and, in each case, such breach (solely to the extent
    curable under the terms of the Material License Agreement) is not cured within the applicable cure period (or, if none is specified, within
    seven (7) Business Days) or otherwise waived by the licensor; or</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(ii)&nbsp;&nbsp;&nbsp;The licensor under any Material
    License Agreement has (A) terminated such Material License Agreement or Material License on the basis of a breach or default by the Company
    or otherwise for cause and such termination would be materially adverse to the Company or the Business or (B) otherwise taken any action
    (including, without limitation, any modification, suspension or revocation of such Material License Agreement or Material License) that
    is materially adverse to the Company or the Business;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><U>provided that</U> the breaches or
    defaults set forth on a Schedule that either occurred and are continuing or are anticipated, in each case, as of the date of the Note
    will not constitute Events of Default.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As used herein: (a) &ldquo;<U>Material License
    Agreement</U>&rdquo; means (i) those license agreements (as amended, supplemented or modified, including after Closing) set forth on a
    Schedule at Closing, (ii) all License Agreements disclosed as material in SEC Filings of the Company from time to time, and (iii) all
    other license agreements, whether now in existence or entered into following the Closing, that are or become material to the Company and
    the Business from time to time; and (b) &ldquo;<U>Material License</U>&rdquo; means any License (as amended, supplemented or modified,
    including after Closing) under a Material License Agreement.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: left; font-size: 10pt; width: 25%; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Warrants:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the Closing, the Company will issue Investor
    a warrant to purchase 4.5 million shares of Common Stock (the &ldquo;<U>Closing Warrant</U>&rdquo;) at an exercise price of $0.01 per
    share. Except as set forth below, the Closing Warrant will be exercisable from and after the earlier of (i) the Maturity Date and (ii)
    the date on which the Note has been repaid in full (such earlier date, the &ldquo;<U>Exercise Date</U>&rdquo;).&nbsp; The Closing Warrant
    will expire on the date that is 5 years following the Closing Date and will be exercisable for cash or using standard cashless exercise
    provisions.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, if the Note has not been paid in
    full prior to the date that (each date a &ldquo;<U>SW Effective Date</U>&rdquo;) is: (i) 180 days following the date of the Closing, the
    Company will on such date issue Investor an additional warrant to purchase 2.125 million shares of Common Stock; (ii) 270 days following
    the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125 million shares of Common Stock; (iii)
    360 days following the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125 million shares of
    Common Stock; and (iv) 450 days following the date of the Closing, the Company will issue Investor an additional warrant to purchase 2.125
    million shares of Common Stock (each, a &ldquo;<U>Subsequent Warrant</U>&rdquo; and collectively, the &ldquo;<U>Subsequent Warrants</U>&rdquo;
    and together with the Closing Warrant, the &ldquo;<U>New Warrants</U>&rdquo;), with each Subsequent Warrant having an exercise price of
    $0.01 per share; provided that if all of the Subsequent Warrants are issued at Closing and exercisable upon the occurrence of the Exercise
    Date, then, for the avoidance of doubt, no additional warrants will be issued. In furtherance of the preceding sentence, the Subsequent
    Warrants (representing in the aggregate to 8.5 million share of Common Stock) shall be issued to the Investor at the Closing but shall
    not become effective until the applicable SW Effective Date and only if the Note has not been paid in full prior to such SW Effective
    Date. All Subsequent Warrants with an SW Effective Date that follows the date on which the Note is repaid in full shall terminate in all
    respects. Following the effectiveness thereof, each Subsequent Warrant that has become effective as of an SW Effective Date will be exercisable
    from and after the Exercise Date. Each Subsequent Warrant will expire on the date that is 5 years following the Closing Date and will
    be exercisable for cash or using standard cashless exercise provisions.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, if at any time
    following the Closing, Henry Ji or Jaisim Shah sells (directly or indirectly) any of the shares of capital stock of the Company, then
    he shall provide notice to Scilex and Oramed not less than 5 days prior to any such sale and specify the date of the sale (&ldquo;<U>Management
    Sale Date</U>&rdquo;); <U>provided</U>, <U>however</U>, that in no event shall any of the following constitute a sale or other transfer
    that triggers or otherwise constitutes a Management Sale Date: (a) any exercise of stock options to acquire shares of capital stock of
    the Company or any net exercise to pay or otherwise satisfy withholding taxes upon any exercise of such options, (b) any transfer of shares
    of capital stock of the Company as a bona fide gift or charitable contribution or for estate planning or other similar purposes (e.g.,
    transfers to family members, as part of divorce settlements, etc.) and (c) such other customary exceptions applicable to restrictions
    on transfer in customary lock-up agreements as reasonably agreed upon by the Company and the Investor in definitive documents; <U>provided</U>
    that in each case, such permitted transfers shall not operate as a means to avoid triggering a Management Sale Date and the transferee
    of such shares shall agree to be subject to the same notification provisions as Mr. Ji and Mr. Shah and, subject to the same exceptions
    on transfer, any subsequent sale of any shares of capital stock of the Company by such transferee shall constitute a Management Sale Date.&nbsp;
    Effective upon a Management Sale Date and without the requirement of any further action on the part of Oramed, the Closing Warrant and
    each Subsequent Warrant for which an SW Effective Date has occurred and that is effective as of the Management Sale Date will become immediately
    exercisable and (ii) each Subsequent Warrant for which an SW Effective Date that occurs and that becomes effective following the Management
    Sale Date will be immediately exercisable upon the applicable SW Effective Date.&nbsp; As of the date of this term sheet, Henry Ji owns
    approximately 603,000 shares of Common Stock and approximately 11,000,000 options to acquire shares of Common Stock and Jaisim Shah owns
    approximately 112,000 shares of Common Stock and approximately 11,000,000 options to acquire shares of Common Stock. Henry Ji and Jaisim
    Shah will each execute an agreement with Oramed and Scilex acknowledging and agreeing to such notice obligations.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, upon the Closing, and following the
    Company&rsquo;s purchase of the outstanding public warrants to purchase shares of Common Stock currently held by Sorrento (the &ldquo;<U>Public
    Warrants</U>&rdquo;), the Company will transfer to Investor Existing Warrants representing the right to purchase 4.0 million shares of
    Common Stock (such transferred Public Warrants, the &ldquo;<U>Transferred Warrants</U>&rdquo; and together with the New Warrants, the
    &ldquo;<U>Warrants</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, there will be no restrictions
    on sale or transfer of any of the Warrants (whether or not exercisable at that time) or the Common Stock issuable upon exercise of the
    Warrants (other than such restrictions as may be applicable under securities laws or other applicable laws).</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; text-align: left; width: 25%"><FONT STYLE="font-size: 10pt"><B>Limitations on Beneficial Ownership:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything herein to the contrary
    the Warrants shall not be exercisable if after such exercise the Investor (or any number of investors acting in concert so as to form
    a &ldquo;group&rdquo;) would beneficially own more than 9.9% of the Common Stock then outstanding (as defined under Section 13(d) of the
    Securities Act of 1933, as amended) (the &ldquo;<U>Beneficial Ownership Limitation</U>&rdquo;). The Investor may, at any time, elect to
    reduce the Beneficial Ownership Limitation from 9.9% to 4.9%. Any such reduction will be effective immediately.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the exercise of the Warrants into Common Stock
    would otherwise result in the Investor exceeding the Beneficial Ownership Limitation, the Company will only issue up to that number of
    shares that would amount to the Investor&rsquo;s reaching the Beneficial Ownership Limitation and the balance will be paid in cash or held in
    abeyance by the Company.</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-right: 5.4pt; font-size: 10pt; vertical-align: middle"><FONT STYLE="font-size: 10pt"><B>Registration Rights:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall file on or prior to the date
    that is 30 days following the Closing Date and have declared effective on or prior to the date that is 60 days following the Closing Date
    (or the date that is 90 days following the Closing Date if subject to a full review by the SEC) a registration statement on Form S-1 (or
    Form S-3 if available) covering the resale of the shares underlying the Warrants, to the extent such underlying shares are eligible for
    registration under applicable securities laws. Beginning on the date that is 30 days following the Closing Date and the date that is 60
    days following the Closing Date (and the date that is 90 days following the Closing if subject to a full review by the SEC), respectively,
    and for every subsequent 30-day period that such registration statement has not been filed or declared effective, as applicable, the Company
    shall pay Investors 2.0% of the sum of the Amount Outstanding and the aggregate Exercise Price of the New Warrants for which the underlying
    shares of Common Stock are eligible to be registered in cash as liquidated damages. Liquidated damages for any 30-day period in which
    the registration statement is actually filed or declared effective will be pro-rated for that 30-day period. Any shares underlying New
    Warrants that were not eligible for registration at the time the above referenced registration statement on Form S-1 (or Form S-3, if
    applicable) is filed with the SEC will be eligible for registration under similar terms and conditions to be set forth in a registration
    rights agreement containing customary terms, provided that the Company will not be required to file more than two registration statements
    on Form S-1 in respect thereof within any 12 month period.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the Closing, the Company shall file
    within fifteen (15) days following the Closing a prospectus supplement to the Registration Statement on Form S-1 (File No. 333-268603)
    to reflect that the Transferred Warrants have been transferred to the Investor and update the Selling Securityholder section thereof to
    add Investor as a Selling Securityholder.</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Definitive Agreements:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The definitive documents in connection with the
    transactions will contain such additional and supplementary provisions, including, without limitation, customary representations, warranties,
    covenants, agreements, events of default, change of control provisions, payments and remedies, as are appropriate to preserve and protect
    the economic benefits intended to be conveyed to each of the Company and Investor and are customary for a transaction of this type.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The closing of the Note will occur upon the satisfaction
    or waiver of standard closing conditions set forth in definitive documents (the &ldquo;<U>Closing</U>&rdquo; and the date on which the
    Closing occurs, the &ldquo;<U>Closing Date</U>&rdquo;).</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Board Observers; Information Rights:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until the obligations under the Note have been
    repaid in full, the Investor shall have the right to designate one (1) observer (the &ldquo;<U>Board Observer</U>&rdquo;) to attend meetings
    of the Board of Directors of the Company, committees and sub-committees thereof, and the boards of directors (or similar governing body)
    and committees and sub-committees of any direct or indirect subsidiary of the Company (collectively, the &ldquo;<U>Company Boards</U>&rdquo;);
    <U>provided</U> that such Board Observer shall have no voting rights. All materials delivered to the members of the Company Boards shall
    be contemporaneously provided to the Board Observer, including any actions to be taken by written consent. With respect to any subsidiary
    of the Company that is manager-managed or GP-managed (<I>i.e.</I>, LLCs or LPs), all written consents thereof shall be promptly provided
    to the Board Observer following execution. The Board Observer shall be subject to customary confidentiality terms (it being understood
    and agreed that all materials provided to the observer in such capacity shall be received on a confidential basis). Notwithstanding the
    foregoing, the Board Observer may be excluded by the directors from attending any portion of a Company Board meeting and certain materials
    that would otherwise be required to be furnished to the Board Observer hereunder may be withheld or redacted from distribution if: (x)
    such attendance would directly jeopardize Company&rsquo;s or any of its subsidiaries&rsquo; ability to assert the attorney-client privilege
    with respect to the matters discussed or disclosed, and (y) the matters discussed or disclosed relate to a matter involving a direct conflict
    of interest with the Board Observer, the Investor or their respective affiliates (including matters directly relating to this term sheet
    or the terms of any of the definitive documents, the Investor or their affiliates, in each case, as reasonably determined in good faith
    by the Company&rsquo;s Board of Directors; <U>provided</U>, that if &nbsp;the Board Observer disagrees with any proposed &nbsp;exclusion
    under clause (x) or (y) above, the Company shall at the Board Observer&rsquo;s written direction be required to obtain a recommendation
    in writing by outside counsel that the Board Observer be excluded in order to preserve privilege or avoid a direct conflict.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that the Investor remains entitled
    to have a Board Observer, the Company shall (i) reimburse the reasonable and documented out-of-pocket expenses incurred by the Board Observer
    prior to the date that is 18 months after the Closing to the extent that such expenses would be reimbursed for any director (independent
    or otherwise) of the Company, with such reimbursement obligation capped at $10,000 per year (and such $10,000/year cap being pro rated
    for any partial year), and (ii) pay to the Board Observer a fee equivalent to the fees paid to independent directors of the Company for
    a period ending on the 18 month anniversary of the Closing, with such fees capped at $80,000 per year (and such $80,000/year cap being
    pro rated for any partial year).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Without limiting the foregoing, the Investor will
    have customary information rights, including a right to receive annual and quarterly financial statements, annual budget, and monthly
    reporting to include (i) a profit and loss statement with detail by product for (a) net sales, (b) cost of sales (c) royalty/milestone
    obligations for the period, (ii) operating expenses by line item (<I>i.e., </I>salary, R&amp;D, legal, etc.) (iii) Gross-to-Net report
    (&ldquo;GtN&rdquo;), including a breakdown by product between WAC and net revenues (including contract price discounts, cash discounts,
    rebates, distribution fees, etc.), and (iv) new and total scripts by product (in each case of the foregoing clauses (i)-(iv), subject
    to deadlines to be mutually agreed, but in no event earlier than 30 days after month-end). The Board Observer shall have the right to
    receive such additional information regarding the Company as the Board Observer shall reasonably request, which shall be provided to the
    Board Observer reasonably promptly following such request and the Board Observer shall be permitted to share such information with C-Suite
    level executives of Investor on a confidential basis.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Board Observer and Investor will acknowledge and
    agree that any information so provided or received as a result of the foregoing observation and information rights may be material non-public
    information for purposes of federal securities laws and the Observer and Investor shall not engage in unlawful trading of the Company&rsquo;s
    or Sorrento&rsquo;s securities when in possession of such information.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>BINDING TERMS</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="background-color: White; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Banks and Brokers:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; width: 75%"><FONT STYLE="font-size: 10pt">The Company is responsible for payment of all banker and broker fees. The Company agrees to indemnify and hold Investor harmless from and against any loss, cost, damage or expense arising out of any claim for any item related to financing including banking fees and brokerage commissions alleged to be due on account of the placing of the investment.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Diligence, Expenses and Fees:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All advisor and legal fees, costs and expenses
    incurred by Investor in connection with the SPA and the Senior DIP shall be paid or reimbursed by the Investor; <U>provided</U> that,
    if the Closing Date occurs, the Company agrees to pay at the Closing reasonable and documented out-of-pocket costs and expenses incurred
    by Investor through and including the Closing Date in connection with the SPA and the Senior DIP of up to, together with the costs and
    expenses of Investor reimbursed by the Company pursuant to the paragraph immediately below, $2,910,000 in the aggregate (with up to $1,910,000
    of such aggregate amount payable in cash upon the Closing and up to $1.0 million of such aggregate amount payable by being added to and
    included in the calculation of the Initial Principal Amount).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the Closing Date occurs, the Company shall
    pay or reimburse Investor or its designee(s) for all reasonable costs and expenses incurred in connection with Investor&rsquo;s preparation,
    negotiation and review of this Term Sheet and the definitive documentation in respect of the transactions contemplated hereby at the Closing;
    <U>provided</U>, that such amounts reimbursed by the Company, together with the amounts the Company pays to the Investor for costs and
    expenses incurred by Investor in connection with the SPA and the Senior DIP, shall not exceed $2,910,000 for all costs and expenses incurred
    through and including the Closing Date (with up to $1,910,000 of such aggregate amount payable in cash upon the Closing and up to $1.0
    million of such aggregate amount payable by being added to and included in the calculation of the Initial Principal Amount).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, all fees, costs and
    expenses of H.C. Wainwright &amp; Co., Proskauer Rose LLP, Gray Reed LLP, and Richards, Layton &amp; Finger P.A. shall be deemed reasonable
    for purposes of this section.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment instructions for Investor&rsquo;s legal counsel
    and advisors will be delivered by the Investor to the Company not less than one (1) business day prior to the Closing.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Indemnification:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The definitive documents in connection with the transactions will contain usual and customary lender indemnification provisions for the benefit of Investor relating to losses, costs, damages or expenses relating to the transactions contemplated by this Term Sheet or any claim made by Hudson Bay or claims from third parties arising from any financing or advisory exclusivity, refusal rights, most favored nations or similar agreements or arrangements, or with respect to the SPA, the Senior DIP or the transactions contemplated thereby.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 25%"><FONT STYLE="font-size: 10pt"><B>Equity Line of Credit, Financings:</B></FONT></TD>
    <TD STYLE="width: 75%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sorrento and the Oramed shall provide written
    consent to Company not less than one (1) Business Day after this term sheet is issued, providing that, notwithstanding any other agreement
    among the parties hereto (including, without limitation, any restrictions under the SPA), Company shall be permitted, from and after such
    date to incur any equity financing, including, without limitation, any advances under the Equity Lines of Credit, or any indebtedness
    financing that will constitute Permitted Debt under clauses (a) - (d) of the definition thereof, above (and, for the avoidance of doubt,
    subject to the applicable caps set forth herein on such Permitted Debt).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall provide the Investor a reasonable
    opportunity to review and provide reasonable comments to any documentation in respect of any Permitted Debt to be incurred or guaranteed
    prior to the Closing Date.</P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>eCap ICA:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Company will (i) reasonably cooperate with Oramed in connection with its negotiation of the eCap ICA and (ii) use its commercially reasonable efforts to assist Oramed in finalizing the eCap ICA so that it is entered into at the Closing.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Governing Law:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This Term Sheet and the definitive agreements to be executed by the parties at Signing (as described below) shall be governed by and construed in accordance with the laws of the State of New York without regard to any conflict of law&rsquo;s provisions. The state and Federal courts residing in The Borough of Manhattan in New York City shall have exclusive jurisdiction in any action to enforce, interpret or construe any provision hereof. Each party hereby irrevocably waives any right it may have, and agrees not to request, a jury trial for the adjudication of any dispute hereunder or in connection with or arising out of this Term Sheet or any transaction contemplated hereby.</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Miscellaneous:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This Term Sheet may be executed via electronic transmission and may be executed in separate counterparts, each of which shall be deemed to be an original and all of which together shall constitute a single instrument. In the event that any signature is delivered by an e-mail which contains a portable document format (.pdf) file of an executed signature page, or via DocuSign, Adobe Sign, or a similar electronic signature service, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof. Execution and delivery of this Term Sheet by electronic signature is legal, valid and binding for all purposes.</FONT></TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page to Term Sheet</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>SCILEX HOLDING COMPANY</B> <B></B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Stephen Ma</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Stephen Ma</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Nadav Kidron</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Nadav Kidron</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>ORAMED PHARMACEUTICALS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Josh Hexter</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Josh Hexter</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>SORRENTO THERAPEUTICS INC.</B> <B></B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Mohsin Y. Meghji</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Mohsin Y. Meghji</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Restructuring Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">11</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>ormp-20230911_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.23.2</span><table class="report" border="0" cellspacing="2" id="idm139865995387632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Sep. 11, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Sep. 11,  2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-35813<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ORAMED PHARMACEUTICALS INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001176309<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0376008<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1185 Avenue of the Americas<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Third Floor<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10036<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">844<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">967-2633<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.012<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ORMP<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
