RedHill Biopharma Ltd.: RedHill Biopharma Announces Closing of Public Offering of its American Depositary Shares

TEL-AVIV, Israel and RALEIGH, N.C., 2017-11-13 19:31 CET (GLOBE NEWSWIRE) --
RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) ("RedHill"
or the "Company"), a specialty biopharmaceutical company primarily focused on
late clinical-stage development and commercialization of proprietary drugs for
gastrointestinal and inflammatory diseases and cancer, today announced the
closing of its previously announced underwritten public offering of 4,090,909
American Depositary Shares ("ADSs"), each representing ten of its ordinary
shares, at a public offering price of $5.50 per ADS. 

Gross proceeds from the sale of the ADSs by RedHill before underwriting
discounts and commissions and other offering expenses were approximately $22.5
million. RedHill has also granted the underwriters a 30-day option to purchase
up to 613,636 additional ADSs at the public offering price. 

Cantor Fitzgerald & Co. and Nomura Securities International, Inc. acted as
joint book-running managers for the offering. SMBC Nikko Securities America,
Inc. acted as lead manager and H.C. Wainwright & Co., LLC and Roth Capital
Partners, LLC acted as co-managers for the offering. 

The Company intends to use the proceeds from the offering to fund clinical
development programs, for potential acquisitions, to support commercial
operations and for general corporate purposes. 

The ADSs described above were issued by RedHill pursuant to a shelf
registration statement that was previously filed with the Securities and
Exchange Commission (the "SEC") and declared effective by the SEC on March 11,
2016. A final prospectus supplement related to the public offering has been
filed with the SEC and is available on the SEC's website located at
www.sec.gov. Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained, when available, by
contacting Cantor Fitzgerald & Co, Attention: Capital Markets, 499 Park Ave.,
6th Floor, New York, New York 10022, or by e-mail at [e-mail], or
Nomura Securities International, Inc., Attention: Equity Syndicate Department,
Worldwide Plaza, 309 West 49th Street, New York, NY 10019-7316 or by telephone
at 212-667-9000 or by e-mail at [e-mail]. 

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the securities described herein, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. 

About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange: RDHL) is a
specialty biopharmaceutical company, primarily focused on the development and
commercialization of late clinical-stage, proprietary, orally-administered,
small molecule drugs for the treatment of gastrointestinal and inflammatory
diseases and cancer. RedHill promotes three gastrointestinal products in the
U.S. and its clinical stage pipeline includes treatments for gastrointestinal
indications, pancreatic cancer and acute migraines: Donnatal - a prescription
oral adjunctive drug used in the treatment of IBS and acute enterocolitis;
Esomeprazole Strontium Delayed-Release Capsules 49.3 mg - a prescription proton
pump inhibitor indicated for adults for the treatment of gastroesophageal
reflux disease (GERD) and other gastrointestinal conditions; and EnteraGam - a
medical food intended for the dietary management, under medical supervision, of
chronic diarrhea and loose stools. RedHill's clinical-stage pipeline includes:
(i) TALICIA (RHB-105) - an oral combination therapy for the treatment of
Helicobacter pylori infection with successful results from a first Phase III
study and an ongoing confirmatory Phase III study; (ii) RHB-104 - an oral
combination therapy for the treatment of Crohn's disease with an ongoing first
Phase III study, a completed proof-of-concept Phase IIa study for multiple
sclerosis, and a planned pivotal Phase III study for nontuberculous
mycobacteria (NTM) infections; (iii) BEKINDA (RHB-102) - a once-daily oral
pill formulation of ondansetron with successful top-line results from a Phase
III study in acute gastroenteritis and gastritis and successful top-line
results from a Phase II study in IBS-D; (iv) RHB-106 - an encapsulated bowel
preparation licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA (ABC294640) -
a Phase II-stage, orally-administered, first-in-class SK2 selective inhibitor
targeting multiple oncology, inflammatory and gastrointestinal indications;
(vi) MESUPRON - a Phase II-stage first-in-class, orally-administered protease
inhibitor, targeting pancreatic cancer and inflammatory gastrointestinal
diseases and (vii) RIZAPORT (RHB-103) - an oral thin-film formulation of
rizatriptan for acute migraines, with a U.S. NDA resubmitted to the FDA and
marketing authorization received in two EU member states under the European
Decentralized Procedure (DCP). 

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements may be
preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes,"
"hopes," "potential" or similar words. Forward-looking statements are based on
certain assumptions and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company's control, and cannot be
predicted or quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements. Such risks
and uncertainties include, without limitation, risks and uncertainties
associated with (i) the initiation, timing, progress and results of the
Company's research, manufacturing, preclinical studies, clinical trials and
other therapeutic candidate development efforts; (ii) the Company's ability to
advance its therapeutic candidates into clinical trials or to successfully
complete its preclinical studies or clinical trials; (iii) the extent and
number of additional studies that the Company may be required to conduct and
the Company's receipt of regulatory approvals for its therapeutic candidates,
and the timing of other regulatory filings, approvals and feedback; (iv) the
manufacturing, clinical development, commercialization and market acceptance of
the Company's therapeutic candidates; (v) the Company's ability to successfully
market Donnatal and EnteraGam; (vi) the Company's ability to establish and
maintain corporate collaborations; (vii) the Company's ability to acquire
products approved for marketing in the U.S. that achieve commercial success and
build its own marketing and commercialization capabilities; (viii) the
interpretation of the properties and characteristics of the Company's
therapeutic candidates and the results obtained with its therapeutic candidates
in research, preclinical studies or clinical trials; (ix) the implementation of
the Company's business model, strategic plans for its business and therapeutic
candidates; (x) the scope of protection the Company is able to establish and
maintain for intellectual property rights covering its therapeutic candidates
and its ability to operate its business without infringing the intellectual
property rights of others; (xi) parties from whom the Company licenses its
intellectual property defaulting in their obligations to the Company; (xii)
estimates of the Company's expenses, future revenues, capital requirements and
needs for additional financing; (xiii) the effect of patients suffering adverse
experiences using investigative drugs under the Company's Expanded Access
Program,; and (xiv) competition from other companies and technologies within
the Company's industry. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking statements is
set forth in the Company's filings with the SEC, including the Company's Annual
Report on Form 20-F filed with the SEC on February 23, 2017. All
forward-looking statements included in this press release are made only as of
the date of this press release. The Company assumes no obligation to update any
written or oral forward-looking statement, whether as a result of new
information, future events or otherwise, unless required by law. 

Company contact:                            IR contact (U.S.):   
Adi Frish                                   Marcy Nanus          
Senior VP Business Development & Licensing  Senior Vice President
RedHill Biopharma                           The Trout Group      
[phone]                            [phone]      
[e-mail]                          [e-mail]