A cross-practice Haynes Boone team represented RedHill Biopharma Ltd. (NASDAQ: RDHL) in negotiating an exclusive worldwide development and commercialization licensing agreement, excluding North America, for its RHB-102 drug candidate, securing potential payments of up to $60 million plus royalties.
The agreement grants Hyloris Pharmaceuticals SA (Euronext Brussels: HYL) rights to develop and commercialize RHB-102 (Bekinda®) with RedHill receiving an upfront payment in addition to potential milestone payments up to $60 million and royalties reaching mid-20s percentages on revenues.
RHB-102 is a once-daily, extended-release oral tablet formulation of ondansetron, targeting oncology support, acute gastroenteritis and irritable bowel syndrome. It recently received positive guidance from U.K. regulators and could become the first 24-hour oral treatment for chemotherapy and radiotherapy-induced nausea and vomiting.
Haynes Boone Capital Markets Partners Rick Werner and Simin Sun led the deal team along with Patent Prosecution Chair Jeff Wolfson. Associates Khalil Bryant and Lisa Vasek provided additional support.
Haynes Boone's Capital Markets practice has played a leading role in numerous IPOs, reverse mergers, acquisitions, follow-on offerings and PIPE financings in recent years across sectors including technology, life sciences, energy and financial services. The firm provides comprehensive advice to clients trading on all major U.S. securities exchanges, over-the-counter markets and many foreign markets on a full range of securities transactions and reporting matters.
