The funds will be used for R&D including tclinical development of RHB-104 for Crohn's disease and RHB-105 for H. pylori infection, both undergoing Phase III studies in the US.
RedHill Biopharma Ltd. (Nasdaq: RDHL); TASE: RDHL) has entered into a definitive agreement with leading healthcare investor OrbiMed Israel Partners Limited Partnership (an affiliate of OrbiMed Advisors LLC), for the sale of American Depository Shares and warrants in a private placement totaling $6 million.
RedHill Biopharma focuses primarily on the development and acquisition of late clinical-stage, proprietary formulations and combinations of existing drugs. Proceeds from the financing will be used for general working capital and for R&D 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 US.
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2013
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