RedHill Biopharma Announces $2.5M Private Placement from Broadfin Capital

RedHill Biopharma

today announced that it has entered into a definitive agreement with Broadfin Capital LLC ("Broadfin") for the sale of RedHill's American Depository Shares ("ADSs") and warrants in a private placement transaction (the "Private Placement") for a sum of $2.5 million. Proceeds from the financing will be used for general working capital and for research and development related purposes, including the clinical development of RedHill's lead gastrointestinal programs, RHB-104 for Crohn's disease and RHB-105 for H. pylori infection, both currently undergoing Phase III studies in the U.S.