October 18, 2019 / 5:11 AM / 2 months ago

BRIEF-Cosmo Licenses Aemcolo For USA And Takes Stake In RedHill Biopharma

Oct 18 (Reuters) - COSMO PHARMACEUTICALS NV:

* LICENSES AEMCOLO(TM) FOR USA TO REDHILL BIOPHARMA AND TAKES A 19.56% STAKE IN COMPANY

* LICENSE AGREEMENT PROVIDES FOR HIGH 20% ROYALTIES AND POTENTIAL REGULATORY AND COMMERCIAL CASH MILESTONES UP TO $100M, PLUS A $12M DOWN-PAYMENT IN REDHILL ADSS

* COSMO WILL BE EXCLUSIVE SUPPLIER OF AEMCOLO(TM)

* SHARE SUBSCRIPTION AGREEMENT PROVIDES FOR AN INVESTMENT OF USD 36.3M IN REDHILL ADSS AT A PRICE EQUAL TO LAST 30-DAY AVERAGE

* COSMO WILL HOLD AN OVERALL STAKE IN COMPANY OF 19.56% AND WILL BECOME LARGEST SHAREHOLDER IN REDHILL

* WILL BE ENTITLED TO APPOINT ONE BOARD MEMBER OF REDHILL Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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