SOURCE: Ohr Pharmaceutical Inc.

April 20, 2010 08:30 ET

Ohr Pharmaceutical Moves Headquarters to New York City

NEW YORK, NY--(Marketwire - April 20, 2010) - Ohr Pharmaceutical Inc. (OTCBB: OHRP) announced today that it has established its headquarters in New York City. The Company was previously based in Salt Lake City on an interim basis.

"We are actively developing two later-stage drugs and need a convenient and accessible base of operations closer to our scientists," said Chief Executive Officer Dr. Irach B. Taraporewala. "We look forward to communicating with investors and the biotech community as we progress throughout the clinical trial and commercialization stages."

Currently under development are Evizon™, for the treatment of the wet form of age-related macular degeneration (Wet-AMD), and OHR/AVR 118, for the treatment of Cancer Cachexia, a severe wasting disorder associated with late-stage cancer patients.

About Ohr Pharmaceutical Inc.
Ohr Pharmaceutical Inc. ( (OTCBB: OHRP) is a pharmaceutical company dedicated to the development of first in class drugs for underserved therapeutic needs. Ohr is focused on the development of two drugs, OHR/AVR 118 for the treatment of Cancer Cachexia and EVIZON™ for the treatment of the wet form of age-related macular degeneration (Wet-AMD). Cancer cachexia, the syndrome of body wasting that affects late-stage cancer patients, is a debilitating condition which adversely affects their quality of life. AMD is a leading cause of vision loss and blindness in the elderly population. The promise shown by Ohr Pharmaceutical's pipeline products offer a new ray of hope to patients suffering from these devastating diseases.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as the date thereof, and Ohr undertakes no obligation to update or revise the forward-looking statement whether as a result of new information, future events or otherwise. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, the financial resources available to us, and general economic conditions. For example, there can be no assurance that Ohr will be able to sustain operations for expected periods. Ohr's most recent Annual Report and subsequent Quarterly Reports discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.

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