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Redhill Biopharma And South Korea'S Kukbo Co. Announce A Strategic Investment Of Up To $10 Million In Redhill

Redhill Biopharma And South Korea'S Kukbo Co. Announce A Strategic Investment Of Up To $10 Million In Redhill

11/08/21, 7:00 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/IL.svgtel aviv
RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that it has entered into a strategic agreement with Kukbo Co. Ltd. (Kospi: 001140) ("Kukbo"), a South Korean corporation, for the sale of RedHill's American Depositary Shares ("ADSs") in a private placement of up to $10 million at a 20% premium to the prior 30 trading days' volume weighted average price ("VWAP").

Company Info

Company
Red Hill Biopharma
Location
tel aviv, tel aviv district, israel
Additional Info
RedHill Biopharma Ltd. (Nasdaq: RDHL) is a specialty biopharmaceutical company primarily focused on gastrointestinal and infectious diseases. RedHill promotes the gastrointestinal drugs, Movantik® for opioid-induced constipation in adults[2], Talicia® for the treatment of Helicobacter pylori (H. pylori) infection in adults[3], and Aemcolo® for the treatment of travelers' diarrhea in adults[4]. RedHill's key clinical late-stage development programs include: (i) RHB-204, with an ongoing Phase 3 study for pulmonary nontuberculous mycobacteria (NTM) disease; (ii) opaganib (ABC294640), a first-in-class oral SK2 selective inhibitor targeting multiple indications with a Phase 2/3 program for COVID-19 and Phase 2 studies for prostate cancer and cholangiocarcinoma ongoing; (iii) RHB-107 (upamostat), an oral serine protease inhibitor in a U.S. Phase 2/3 study as treatment for symptomatic COVID-19, and targeting multiple other cancer and inflammatory gastrointestinal diseases; (iv) RHB-104, with positive results from a first Phase 3 study for Crohn's disease; (v) RHB-102 , with positive results from a Phase 3 study for acute gastroenteritis and gastritis and positive results from a Phase 2 study for IBS-D; and (vi) RHB-106, an encapsulated bowel preparation. More information about the Company is available at https://www.redhillbio.com https://twitter.com/RedHillBio.