PR92897

TEL AVIV, Israel and RALEIGH, NC, Nov. 8, 2021 /PRNewswire=KYODO JBN/ --

RedHill received the first tranche of $5 million in a private placement of

restricted stock priced at $6.04 per ADS, representing a 20% premium based on

the 30 trading days' volume weighted average price (VWAP) ending on the

effective date

RedHill granted Kukbo a right of first offer for opaganib, RHB-107 (upamostat)

and Talicia(R) for South Korea and other Asian territories

Opaganib's COVID-19 data packages submission process is advancing in various

territories including the U.S., EU, Latin America and others, ahead of planned

regulatory advice

RedHill Biopharma Ltd. [https://www.redhillbio.com/home/default.aspx] (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").

Kukbo's strategic investment in RedHill is to be made in two tranches, with the

first tranche of $5 million already paid and the second tranche of $5 million

to follow within six months, subject to satisfaction of certain conditions. As

part of the first tranche, RedHill is to issue 827,586 ADSs at a purchase price

of $6.04, representing a 20% premium based on the VWAP of RedHill's ADS on

NASDAQ over the 30 trading days ending on the effective date. All ADSs are to

be issued with a 180-day transfer restriction.

In addition, under the terms of the agreement, RedHill has agreed to grant

Kukbo a right of first offer, for a period of six months, for a license with

respect to one or more of RedHill's late-stage clinical assets, opaganib,

RHB-107 (upamostat)[1] and Talicia(R), for one or more of the territories of

South Korea, Japan, Indonesia, Vietnam, Thailand and Malaysia. Kukbo has the

right to elect not to purchase the ADSs in the second tranche if no such

license agreement is executed within six months of the closing of the first

tranche.

Dror Ben-Asher, RedHill's CEO said: "We are rapidly advancing with opaganib's

COVID-19 data package submissions to regulators in several territories

including the U.S., EU and others, ahead of planned regulatory advice. We are

pleased with the addition of Kukbo as a committed strategic investor and look

forward to evaluating opportunities for opaganib, RHB-107 and Talicia in South

Korea and other territories in Asia where large unmet medical needs exist."

"As Kukbo proceeds in its planned strategic expansion into healthcare, we

believe that RedHill's opaganib, RHB-107 and Talicia, if approved, hold

substantial promise in South Korea and other Asian countries and are eager to

leverage our local expertise and network in those territories," said Hyun Ha,

Kukbo's CEO.

Nexpedia Holdings Co., Ltd. and Network 1 Financial Securities, Inc.

facilitated the introduction between the parties.

The securities to be sold in the private placement have not been registered

under the Securities Act of 1933, as amended (the "Securities Act"), or any

state or other applicable jurisdiction's securities laws, and may not be

offered or sold in the United States absent registration or an applicable

exemption from the registration requirements of the Securities Act and

applicable state or other jurisdictions' securities laws.

This press release shall not constitute an offer to sell or the solicitation of

an offer to buy these securities, nor shall there be any offer, solicitation,

or sale of these securities in any jurisdiction in which such offer,

solicitation or sale would be unlawful.

About RedHill Biopharma  

RedHill Biopharma Ltd. (Nasdaq: RDHL) is a specialty biopharmaceutical company

primarily focused on gastrointestinal and infectious diseases. RedHill promotes

the gastrointestinal drugs, Movantik(R) for opioid-induced constipation in

adults[2], Talicia(R) for the treatment of Helicobacter pylori (H. pylori)

infection in adults[3], and Aemcolo(R) 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.

About Kukbo Co. Ltd.

Kukbo Co., Ltd. is a KOSPI-listed company in South Korea with a 68-years of

history. Kukbo Co., Ltd. provides comprehensive logistic services, equipped

with a distribution management system for running a state-of-the-art integrated

logistic centers, as well as infrastructure such as transportation, storage and

warehousing.  In addition, Kukbo Co., Ltd. is developing a system designed to

locate optimal routes through real-time traffic information and vehicle

location tracking to strengthen its logistic business capabilities by building

a cutting-edge system. As Kukbo Co., Ltd. expands into new business areas, it

is on the way to become a global company while pursuing a variety of business

areas such as golf-wear, masks and pharmaceuticals. Kukbo's website is

available at http://www.kukbo.com.

This press release contains "forward-looking statements" within the meaning of

the Private Securities Litigation Reform Act of 1995. Such statements may be

preceded by the words "intends," "may," "will," "plans," "expects,"

"anticipates," "projects," "predicts," "estimates," "aims," "believes,"

"hopes," "potential" or similar words. Forward-looking statements are based on

certain assumptions and are subject to various known and unknown risks and

uncertainties, many of which are beyond the Company's control and cannot be

predicted or quantified, and consequently, actual results may differ materially

from those expressed or implied by such forward-looking statements. Such risks

and uncertainties include the risk that the tranches of the subscription

agreement described in this press release will not close, the risk that the

Company will not enter into a license agreement with Kukbo Co. Ltd. and risks

and uncertainties associated with (i) the initiation, timing, progress and

results of the Company's research, manufacturing, preclinical studies, clinical

trials, and other therapeutic candidate development efforts, and the timing of

the commercial launch of its commercial products and ones it may acquire or

develop in the future; (ii) the Company's ability to advance its therapeutic

candidates into clinical trials or to successfully complete its preclinical

studies or clinical trials (iii) the extent and number and type of additional

studies that the Company may be required to conduct and the Company's receipt

of regulatory approvals for its therapeutic candidates, and the timing of other

regulatory filings, approvals and feedback; (iv) the manufacturing, clinical

development, commercialization, and market acceptance of the Company's

therapeutic candidates and Talicia(R); (v) the Company's ability to

successfully commercialize and promote Movantik(R), Talicia(R) and Aemcolo(R);

(vi) the Company's ability to establish and maintain corporate collaborations;

(vii) the Company's ability to acquire products approved for marketing in the

U.S. that achieve commercial success and build and sustain its own marketing

and commercialization capabilities; (viii) the interpretation of the properties

and characteristics of the Company's therapeutic candidates and the results

obtained with its therapeutic candidates in research, preclinical studies or

clinical trials; (ix) the implementation of the Company's business model,

strategic plans for its business and therapeutic candidates; (x) the scope of

protection the Company is able to establish and maintain for intellectual

property rights covering its therapeutic candidates and commercial products and

its ability to operate its business without infringing the intellectual

property rights of others; (xi) parties from whom the Company licenses its

intellectual property defaulting in their obligations to the Company; (xii)

estimates of the Company's expenses, future revenues, capital requirements and

needs for additional financing; (xiii) the effect of patients suffering adverse

events using investigative drugs under the Company's Expanded Access Program;

and (xiv) competition from other companies and technologies within the

Company's industry. More detailed information about the Company and the risk

factors that may affect the realization of forward-looking statements is set

forth in the Company's filings with the Securities and Exchange Commission

(SEC), including the Company's Annual Report on Form 20-F filed with the SEC on

March 18, 2021. All forward-looking statements included in this press release

are made only as of the date of this press release. The Company assumes no

obligation to update any written or oral forward-looking statement, whether as

a result of new information, future events or otherwise unless required by law.

Logo: https://mma.prnewswire.com/media/1334141/RedHill_Biopharma_Logo.jpg

Company contact:

Adi Frish

Chief Corporate & Business Development Officer

RedHill Biopharma

+972-54-6543-112

adi@redhillbio.com

Media contacts:

U.S.: Bryan Gibbs, Finn Partners

+1 212 529 2236

bryan.gibbs@finnpartners.com

UK: Amber Fennell, Consilium

+44 (0) 7739 658 783  

fennell@consilium-comms.com

[1] Opaganib and RHB-107 (upamostat) are investigational new drugs, not

available for commercial distribution.

[2] Full prescribing information for Movantik(R) (naloxegol) is available at:

www.Movantik.com.

[3] Full prescribing information for Talicia(R) (omeprazole magnesium,

amoxicillin and rifabutin) is available at: www.Talicia.com.  

[4] Full prescribing information for Aemcolo(R) (rifamycin) is available at:

www.Aemcolo.com.

Source: RedHill Biopharmaceuticals Ltd.