TEL AVIV, Israel, Feb. 5, 2019 /CNW/ -- BioLineRx Ltd.
(NASDAQ/TASE: BLRX), a clinical-stage biopharmaceutical company
focused on oncology and immunology, today announced that it has
priced an underwritten public offering of 28,000,000 American
Depositary Shares ("ADSs"), each representing one of its ordinary
shares, and warrants to purchase 28,000,000 ADSs, at a public
offering price of $0.55 per ADS and
accompanying warrant. The warrants will be exercisable immediately,
will expire five years from the date of issuance and will have an
exercise price of $0.75 per ADS. The
gross proceeds of the offering to the Company are expected to be
$15.4 million, before deducting
underwriting discounts and commissions and estimated offering
expenses payable by BioLineRx, and excluding the exercise of any
warrants. All of the securities in the offering are to be sold by
BioLineRx. The closing of the offering is expected to
occur on or about February 7, 2019,
subject to customary closing conditions. BioLineRx anticipates
using the net proceeds from the offering for general corporate
purposes, which may include, but are not limited to, working
capital and funding clinical trials.
Oppenheimer & Co. Inc. acted as sole book-running manager
for the offering. Maxim Group LLC acted as co-manager for the
offering.
The securities described above will be issued pursuant to a
shelf registration statement (File No. 333-222332) that was
previously filed with, and declared effective by, the Securities
and Exchange Commission ("SEC"). A preliminary prospectus
supplement related to the offering was filed with the SEC on
February 4, 2019 and is available on
the SEC's website located at www.sec.gov. The final prospectus
supplement related to the offering will be filed with the SEC and
will be available on the SEC's website located at www.sec.gov.
Copies of the final prospectus supplement may also be obtained,
when available, from Oppenheimer & Co. Inc., 85 Broad St., 26th
Floor, New York, New York 10004,
Attention: Syndicate Prospectus Department, or by telephone: (212)
667-8055 or by email: EquityProspectus@opco.com.
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. 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 acute myeloid leukemia ("AML") and
is in the midst of a Phase 2b study
as an AML consolidation treatment and has initiated a Phase 3 study
in stem cell mobilization for autologous transplantation; and
AGI-134, an immunotherapy treatment in development for multiple
solid tumors, which has recently initiated a Phase 1/2a study. 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 United States and Canada), on the basis of which the Company is
conducting a Phase 2a study in pancreatic cancer using the
combination of BL-8040 and KEYTRUDA® (pembrolizumab),
and a collaboration agreement with Genentech Inc., 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.
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 6,
2018 and BioLineRx's other filings with the Securities and
Exchange Commission. 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.
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SOURCE BioLineRx Ltd.