RedHill inks $6M deal with Kukbo for COVID-19 drug in South Korea

RedHill Biopharma has entered into an exclusive licence agreement with

Kukbo Co., a South Korean corporation, for oral opaganib for the treatment of COVID-19, in South Korea. Under the terms of the licence 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 commercialise opaganib in South Korea for COVID-19. The partnership with Kukbo also includes a right of first offer for RedHill’s late-stage clinical assets, opaganib, RHB-107 (upamostat) and Talicia, for one or more of the territories of South Korea, Japan, Indonesia, Vietnam, Thailand and/or Malaysia.

The right of first offer has been extended as part of the new licence agreement until the end of October 2022.