TEL AVIV, Israel, July 26, 2017 /PRNewswire/ --
BioLineRx Ltd. (NASDAQ: BLRX) (TASE:
BLRX), a clinical-stage biopharmaceutical company focused on
oncology and immunology, today announced that BVF Partners L.P.
(BVF), its largest shareholder, has entered into a definitive
agreement to make an additional, direct investment of $9.6 million in BioLineRx, increasing its
economic interest in the Company to 24.9%. The sale is expected to
close on or about July 31, 2017,
subject to satisfaction of customary closing conditions.
BVF's new investment is priced at $1.13 per unit. Each unit consists of 1 ordinary
share, 0.35 of a Series A warrant, and 0.35 of a Series B warrant.
The Series A warrants have an exercise price of $2.00 per ordinary share and a 4-year term. The
Series B warrants have an exercise price of $4.00 per ordinary share and a 4-year term. The
securities are being offered pursuant to a prospectus as a
registered direct placement.
Mark Lampert, Founder and
President of BVF Partners L.P., commented: "BioLineRx's therapeutic
pipeline, strategic collaborations, scientific breadth and
capabilities provide for a compelling investment opportunity for
BVF. We are pleased to support the Company in the continued
advancement of its clinical programs."
Philip A. Serlin, Chief Executive
Officer of BioLineRx, remarked, "We thank BVF for their support and
confidence. BVF's new direct investment, on the heels of its recent
initial investment in the Company this past March, provides us with
additional resources to accelerate our clinical development
programs. We continue to execute on our clinical development
strategy and look forward to the data readouts from our multiple
clinical studies."
The securities will be issued pursuant to a shelf registration
statement that was previously filed with, and declared effective
by, the Securities and Exchange Commission ("SEC"). A prospectus
supplement related to the offering will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About BioLineRx
BioLineRx is a clinical-stage biopharmaceutical company focused
on oncology and immunology. The Company in-licenses novel
compounds, develops them through pre-clinical and/or clinical
stages, and then partners with pharmaceutical companies for
advanced clinical development and/or commercialization.
BioLineRx's leading therapeutic candidates are: BL-8040, a
cancer therapy platform, which has successfully completed a Phase
2a study for relapsed/refractory AML, is in the midst of a Phase 2b
study as an AML consolidation treatment and is expected to initiate
a Phase 3 study in stem cell mobilization for autologous
transplantation; and AGI-134, an immunotherapy treatment in
development for multiple solid tumors, which is expected to
initiate a first-in-man study in the first half of 2018. In
addition, BioLineRx has a strategic collaboration with Novartis for
the co-development of selected Israeli-sourced novel drug
candidates; a collaboration agreement with MSD (known as Merck in
the US and Canada), on the basis
of which the Company has initiated a Phase 2a study in pancreatic
cancer using the combination of BL-8040 and Merck's
KEYTRUDA®; and a collaboration agreement with Genentech,
a member of the Roche Group, to investigate the combination of
BL-8040 and Genentech's Atezolizumab in several Phase 1b/2 studies
for multiple solid tumor indications and AML.
For additional information on BioLineRx, please visit the
Company's website at http://www.biolinerx.com, where you can review
the Company's SEC filings, press releases, announcements and
events. BioLineRx industry updates are also regularly updated on
Facebook, Twitter, and LinkedIn.
Various statements in this release concerning
BioLineRx's future expectations constitute
"forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements include words such as
"may," "expects,"
"anticipates,"
"believes," and
"intends," and describe opinions about
future events. These forward-looking statements involve known and
unknown risks and uncertainties that may cause the actual results,
performance or achievements of BioLineRx to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Some of these risks
are: changes in relationships with collaborators; the impact of
competitive products and technological changes; risks relating to
the development of new products; and the ability to implement
technological improvements. These and other factors are more fully
discussed in the "Risk Factors" section
of BioLineRx's most recent annual report on Form 20-F
filed with the Securities and Exchange Commission on March
23, 2017. In addition, any forward-looking
statements represent BioLineRx's views only as of the
date of this release and should not be relied upon as representing
its views as of any subsequent date. BioLineRx does not assume any
obligation to update any forward-looking statements unless required
by law.
Contact:
PCG Advisory
Vivian Cervantes
Investor Relations
212-554-5482
vivian@pcgadvisory.com
Tsipi Haitovsky
Public Relations
+972-52-598-9892
tsipihai5@gmail.com
SOURCE BioLineRx Ltd.