RedHill Biopharma Announces $11.7M Private Placement Agreement

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RedHill Biopharma
RDHL
today announced that it has entered into a definitive agreement with a select group of investors (the "Investors") for the sale of RedHill's ordinary shares and warrants in a private placement transaction (the "Private Placement") for a total amount of approximately $11.7 million. The Investors in the Private Placement include Israeli institutional investors Migdal Insurance Company, Yelin Lapidot, and Excellence Nessuah, as well as Sphera Global Healthcare Master Fund and additional private Israeli investors. Proceeds from the financing will be used for general working capital and for research and development related purposes, including the clinical development of RHB-104 for Crohn's disease and RHB-105 for H. pylori infection, both currently undergoing Phase III studies in the U.S., and for potential acquisitions.
See full press release
Posted In: NewsGuidanceContractsManagementGlobal
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