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RedHill Biopharma Announces Proposed Public Offering of its American Depository Shares

RedHill Biopharma Ltd.
Press release

RedHill Biopharma Announces Proposed Public Offering of its American Depository

TEL-AVIV, Israel, 2016-11-01 21:00 CET (GLOBE NEWSWIRE) --
RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) (“RedHill” or the “Company”),
a biopharmaceutical company primarily focused on the development and
commercialization of late clinical-stage, proprietary, orally-administered,
small molecule drugs for gastrointestinal and inflammatory diseases and cancer,
today announced that it intends to offer its American Depository Shares
(“ADSs”), each representing ten of its ordinary shares, in an underwritten
public offering. RedHill also expects to grant the underwriters a 30-day option
to purchase up to an additional 15% of the ADSs offered to the public. The
offering is subject to market conditions and there can be no assurance as to
whether or when the offering may be completed, or as to the actual size or
terms of the offering.

The Company intends to use the proceeds from the offering to fund clinical
development programs, for potential acquisitions, to support commercial
operations and for general corporate purposes.

Roth Capital Partners and FBR are acting as joint book-running managers and
Echelon Wealth Partners is acting as Canadian manager for the offering with
respect to sales in Canada.

The ADSs will be issued pursuant to a shelf registration statement that was
previously filed with, and declared effective by, the Securities and Exchange
Commission (the “SEC”). A preliminary prospectus supplement related to the
offering has been filed with the SEC and is available on the SEC's website
located at

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such

This offering will be made only by means of a prospectus. Copies of the
preliminary prospectus supplement and the accompanying prospectus relating to
the offering may be obtained, when available, by contacting Roth Capital
Partners, Attention: Equity Capital Markets, 888 San Clemente Drive, Newport
Beach, CA 92660, or by telephone at 800-678-9147, or FBR, Attention: Syndicate
Prospectus Department, 1300 North 17th Street, Suite 1400, Arlington, VA 22209,
or by telephone at 703-312-9726, or by email at

About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) is a biopharmaceutical company
headquartered in Israel, primarily focused on the development and
commercialization of late clinical-stage, proprietary, orally-administered,
small molecule drugs for the treatment of gastrointestinal and inflammatory
diseases and cancer. RedHill’s current pipeline of proprietary products
includes: (i) RHB-105 - an oral combination therapy for the treatment of
Helicobacter pylori infection with successful results from a first Phase III
study; (ii) RHB-104 - an oral combination therapy for the treatment of Crohn's
disease with an ongoing first Phase III study and an ongoing proof-of-concept
Phase IIa study for multiple sclerosis; (iii) BEKINDA® (RHB-102) - a once-daily
oral pill formulation of ondansetron with an ongoing Phase III study for acute
gastroenteritis and gastritis and an ongoing Phase II study for IBS-D; (iv)
RHB-106 - an encapsulated bowel preparation licensed to Salix Pharmaceuticals,
Ltd.; (v) YELIVA™ (ABC294640) - a Phase II-stage, orally-administered,
first-in-class SK2 selective inhibitor targeting multiple oncology,
inflammatory and gastrointestinal indications; (vi) MESUPRON - a Phase II-stage
first-in-class, orally-administered uPA inhibitor, targeting gastrointestinal
and other solid tumors; (vii) RP101 - currently subject to an option-to-acquire
by RedHill, RP101 is a Phase II-stage first-in-class, orally-administered Hsp27
inhibitor, targeting pancreatic and other gastrointestinal cancers; (viii)
RIZAPORT® (RHB-103) - an oral thin film formulation of rizatriptan for acute
migraines, with a U.S. NDA currently under discussion with the FDA and
marketing authorization received in Germany in October 2015; and (ix) RHB-101 -
a once-daily oral pill formulation of the cardio drug carvedilol.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements may be
preceded by the words “intends,” “may,” “will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,”
“hopes,” “potential” or similar words. Forward-looking statements are based on
certain assumptions and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and cannot be
predicted or quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements. Such risks
and uncertainties include, without limitation, risks and uncertainties
associated with (i) the initiation, timing, progress and results of the
Company’s research, manufacturing, preclinical studies, clinical trials, and
other therapeutic candidate development efforts; (ii) the Company’s ability to
advance its therapeutic candidates into clinical trials or to successfully
complete its preclinical studies or clinical trials; (iii) the extent and
number of additional studies that the Company may be required to conduct and
the Company’s receipt of regulatory approvals for its therapeutic candidates,
and the timing of other regulatory filings, approvals and feedback; (iv) the
manufacturing, clinical development, commercialization, and market acceptance
of the Company’s therapeutic candidates; (v) the Company’s ability to establish
and maintain corporate collaborations; (vi) the Company's ability to acquire
products approved for marketing in the U.S. that achieve commercial success and
build its own marketing and commercialization capabilities; (vii) the
interpretation of the properties and characteristics of the Company’s
therapeutic candidates and of the results obtained with its therapeutic
candidates in research, preclinical studies or clinical trials; (viii) the
implementation of the Company’s business model, strategic plans for its
business and therapeutic candidates; (ix) the scope of protection the Company
is able to establish and maintain for intellectual property rights covering its
therapeutic candidates and its ability to operate its business without
infringing the intellectual property rights of others; (x) parties from whom
the Company licenses its intellectual property defaulting in their obligations
to the Company; (xi) estimates of the Company’s expenses, future revenues
capital requirements and the Company’s needs for additional financing; (xii)
competitive companies and technologies within the Company’s industry; and
(xiii) the impact of the political and security situation in Israel on the
Company's business. More detailed information about the Company and the risk
factors that may affect the realization of forward-looking statements is set
forth in the Company's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 20-F filed with the SEC on
February 25, 2016. All forward-looking statements included in this Press
Release are made only as of the date of this Press Release. We assume no
obligation to update any written or oral forward-looking statement unless
required by law.

Company contact:
Adi Frish
Senior VP Business Development &
RedHill Biopharma

IR contact (U.S.):
Marcy Nanus
Senior Vice President
The Trout Group

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