RedHill Biopharma Ltd. Raises $3.5M in a Private Placement

TEL AVIV, Israel--(BUSINESS WIRE)--RedHill Biopharma Ltd, an Israeli biopharmaceutical company, has completed the first part of a private placement, raising $3.5 million dollars. The Company also reports the final closing of two transactions, a co-development agreement and an acquisition, both for late clinical-stage drugs. RedHill is also exploring the possibility of an initial public offering on the Tel Aviv stock exchange in early 2011.

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