RedHill Biopharma Ltd. Announces Successful Completion of $6.5 Million Private Placement
12/6/2012 11:03:42 AM
TEL AVIV, Israel--(BUSINESS WIRE)--RedHill Biopharma Ltd. (TASE:RDHL), an Israeli biopharmaceutical company focusing primarily on development and acquisition of late clinical stage, patent-protected, new formulations and combinations of existing drugs, reported the completion of a private placement in a total amount of approximately $6.5 million. The proceeds will be used to advance the Company’s late clinical stage programs, including a Phase III clinical trial with RHB-104 for the treatment of Crohn’s disease, planned to begin in the first half of 2013, and a Phase II/III trial with RHB-105 for the eradication of H. pylori bacteria, planned to begin in the first quarter of 2013. The Company further plans to commence a Phase IIa clinical trial with RHB-104 for the treatment of Multiple Sclerosis in January 2013.