RedHill signs deal with Kukbo on COVID-19 candidate in South Korea
Israeli specialty drugmaker RedHill Biopharma (Nasdaq: RDHL) has entered into an exclusive license agreement with Kukbo Co (Kospi: 001140), a South Korean corporation, for oral opaganib for the treatment of COVID-19, in South Korea.
Under the terms of the license agreement, which follows the previously announced strategic investment by Kukbo, RedHill will receive an upfront payment of $1.5 million and is eligible for up to $5.6 million in milestone payments as well as low double-digit royalties on net sales of oral opaganib in South Korea. Kukbo will receive the exclusive rights to commercialize opaganib in South Korea for COVID-19.
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