Ahead of an IPO, Israel's RedHill Biopharma likely to raise $5 million privately, says Globes

10 May 2010

According to the Israeli news service Globes, local firm RedHill Biopharma is expected to raise $4-5 million from private investors ahead of an initial public offering on the Tel Aviv Stock Exchange (TASE), planned to take place by year end.

Globes says it has been informed by 'sources' that RedHill's current US, European, and Israeli investors are due to participate in the upcoming financing round. Afterwards, the company plans to achieve a company value of 150 million Israeli shekels ($39.5 million) for the IPO. The company itself has not yet made a statement.

Recent in-licensed products for RedHill

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