RedHill Biopharma's opaganib gets funding for US COVID-19 trial

Israel-based biotech RedHill Biopharma (Nasdaq: RDHL) announced that opaganib (trade name Yeliva), a proprietary, orally administered, selective sphingosine kinase-2 (SK2) inhibitor, is the first product candidate in its class of therapy and is being evaluated for the treatment of severe COVID-19 pneumonia, has been selected for $300,000 grant funding from the Pennsylvania state COVID-19 Vaccines, Treatments and Therapies (CV-VTT) program, which will support the rapid further development of novel COVID-19 therapies.

The grant funding was provided to a RedHill partner, Apogee Biotechnology Corporation, from which RedHill licensed opaganib. Apogee will conduct the research supported by the grant funding.

"We are pleased that the US state of Pennsylvania has recognized the promising potential of our drug candidate opaganib in Phase II/III as a much-needed treatment option for patients with COVID-19," said senior vice president R&D, adding: "This grant funding will help accelerate and expand the development of opaganib to meet our goal of generating a robust data package to potentially support emergency applications against COVID-19."