RedHill Awarded Judgment Of Approx. $8 Mln Plus Costs In Legal Proceedings Against Kukbo

(RTTNews) - RedHill Biopharma (RDHL) said it has been awarded approximately $8 million, plus costs in a summary judgment by the Supreme Court of the State of New York, New York County, in its legal proceedings against Kukbo Co. The case refers to Kukbo's failure to make agreed payments to RedHill, pursuant to a Subscription Agreement, dated October 25, 2021, and a subsequent Exclusive License Agreement, dated March 14, 2022.

Kukbo has a right to seek an appeal of the judgment. RedHill plans to pursue its attorneys' fees and collection of the judgment.

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