Brief: Cosmo Licenses Aemcolo For USA And Takes Stake In RedHill Biopharma

Cosmo NV

18/10/2019 06:10

Oct 18 (Reuters) - COSMO PHARMACEUTICALS NV  COPN.S :
    * 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:  ID:nTENnqrnya 
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