RedHill picks up funding to finish study of COVID-19 candidate
Israeli biotech RedHill Biopharma (Nasdaq: RDHL) has announced new funding of around $5 million, which will be directed towards evaluation of COVID-19 treatment RHB-107, also known as upamostat.
Upamostat, a small molecule inhibitor of the enzyme urokinase, could be effective against emerging viral variants of the coronavirus with mutations in the spike protein.
Scientists believe the first-in-class antiviral could also be used to treat pancreatic cancer. The US regulator has granted orphan drug designation for the candidate in this indication.
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