RedHill signs deal with Kukbo on COVID-19 candidate in South Korea

15 March 2022

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.

Opaganib has not been approved for the treatment of COVID-19 patients, but RedHill is currently in discussion in the USA, Europe and UK, and is advancing regulatory discussions in multiple countries, with potential emergency and marketing authorization applications being planned for certain countries in the first half of 2022.

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