RedHill Biopharma (RDHL) announced that the Company 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. Ltd., domiciled in South Korea. 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, entered into by the two companies.
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