RESprotect, RedHill deal

RedHill received a one-year option from RESprotect to acquire exclusive, worldwide rights to RP101 for all indications, excluding pancreatic cancer in South Korea. RedHill may conduct development of the compound during the option period, which may be extended under agreed terms. RP101 -- an oral small molecule that binds to heat shock protein 27 (Hsp27) -- is in Phase II testing for pancreatic cancer and has Orphan Drug designation in the U.S. and EU for the adjunct treatment of pancreatic cancer.

RESprotect received an undisclosed upfront payment for the option. The companies said the upfront payment and option exercise fee totals $100,000. If RedHill exercises the option, RESprotect will receive an additional payment and be eligible for undisclosed milestones, plus tiered royalties from the single-digits to mid-teens. RedHill declined to disclose details, and RESprotect could not be reached. ...