BioLineRx

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BioLineRx Ltd.
Type Public
Traded as NASDAQBLRX
TASEBLRX
Industry Biotechnology
Founded 2003 (2003)
Headquarters Jerusalem, Israel
Key people Kinneret Savitsky (CEO)
Services Drug development
Website www.biolinerx.com
Footnotes / references
[1]
BioLineRX office in Har Hotzvim Technology Park, Jerusalem

BioLineRx (Hebrew: ביוליין אר אקס‎), or BioLine, is a publicly traded drug development company that seeks to discover compounds for disease treatment and develop them into commercializable drugs. Headquartered in Israel, its shares are traded on the NASDAQ Capital Market and on the Tel Aviv Stock Exchange.

Operations[edit]

BioLineRx is a drug development company that seeks to discover compounds with potential to treat a variety of diseases, including cancer, schizophrenia and cardiac deterioration. When promising compounds are discovered, BioLine leads them through preclinical trials and engages other companies to advance the compounds' development into commercializable drugs.[2] The company entered into its first major commercialization agreement in 2009 when it partnered with Ikaria Holdings Inc. to develop its BL-1040 compound.[3] In 2010 BioLine entered into a commercialization agreement with Cypress Bioscience Inc. for development of its BL-1020 compound. The agreement with Cypress was canceled in 2011 when the company was taken over by Ramius LLC.[4]

Pipeline[edit]

Below is a partial list of drug compounds in various stages of development by BioLineRx. Unless indicated otherwise, they have not obtained regulatory approval in relation to the diseases cited.

Business model[edit]

BioLine's business model consists of three stages. In the first stage, called the bench stage, the potential drug candidate is evaluated "from both scientific and marketing perspectives." In the second stage, called the bedside stage, BioLine accompanies the drug through early clinical trials. In the third stage, the partner stage, BioLine enters into strategic partnership with a pharmaceutical company to see the drug through its advanced clinical trials and bring it to the market.[12]

Corporate history[edit]

BioLineRx was established in 2003 as a joint venture of Teva, Hadasit Bio-Holdings, the Jerusalem Development Authority, Yehuda Zisapel, and other investors.[13] It executed an initial public offering on the Tel Aviv Stock Exchange in February 2007, raising NIS 211 million ($50 million) – the TASE's largest biotech IPO until that time.[14][15] In August 2011 BioLine's ADRs began trading on the NASDAQ Capital Market.[16] In January 2012, BioLineRx announced a deal with Genoscience, a French pharmaceutical company to jointly develop and market the BL-8020 compound, as a treatment for Hepatitis C.[17]

Management[edit]

Morris Laster, Downstate Medical Center (M.D.) and SUNY Albany (B.Sc.) alumnus, was CEO of BioLineRx until 2009. He was replaced by Kinneret Savitsky, alumnus of Tel Aviv University (Master's and Ph.D.) and the Hebrew University of Jerusalem (B.Sc.), early in 2010.[18]

See also[edit]

References[edit]

  1. ^ "BLRX Profile: BioLineRx Ltd. Stock". Yahoo! Finance. 2011. Retrieved 28 November 2011. 
  2. ^ Brinn, David (3 June 2007). "BioLineRx - Israel's biotech supermarket". Israel21c. Retrieved 28 November 2011. 
  3. ^ Habib-Valdhorn, Shiri (28 April 2010). "BiolineRX earns $10m milestone payment". Globes. Retrieved 28 November 2011. 
  4. ^ Weinreb, Gali (11 May 2011). "BiolineRX and Cypress cancel schizophrenia drug agreement". Globes. Retrieved 28 November 2011. 
  5. ^ "Israeli co to hold clinical trial for treatment of Schizophrenia in India". The Hindu Business Line (Jerusalem). 24 November 2011. Retrieved 28 November 2011. 
  6. ^ "BioLineRx Announces Positive Preliminary Results from Phase I Clinical Trial of BL-1021 for Neuropathic Pain". Business Wire (Jerusalem). 13 September 2011. Retrieved 28 November 2011. 
  7. ^ "Bioline looks to heart attack treatment clinical trial". Globes. 27 February 2011. Retrieved 28 November 2011. 
  8. ^ "US company buys exclusive license for Israeli heart attack drug for $285 million". Israel21c. 8 July 2009. Retrieved 28 November 2011. 
  9. ^ Wrobel, Sharon (15 September 2011). "Bioline RX Gets European Device Confirmation for Bl-5010 Drug". Bloomberg. Retrieved 28 November 2011. 
  10. ^ "BioLineRx has acquired the rights to compound BL-7040 from Yissum and Prof. Soreq". The Hebrew University of Jerusalem. The Edmond and Lily Safra Center for Brain Sciences. 27 June 2011. Retrieved 28 November 2011. 
  11. ^ "BioLineRx signs pact with Genoscience & RFS Pharma to develop and commercialize BL-8030 to treat hepatitis C". Pharmabiz.com (Jerusalem, Israel). 8 February 2012. Retrieved 8 February 2012. 
  12. ^ "BioLineRx – Overview". BioLineRx. 2010. Retrieved 28 November 2011. 
  13. ^ Grayeff, Yigal (13 January 2005). "BioLineRx signs 3 deals to develop drugs". Jerusalem Post. IVC Research Center. Retrieved 28 November 2011. 
  14. ^ Cohen, Omri (7 February 2007). "Biotech comes of age: Bioline floats at half-billion shekel market cap". TheMarker. Retrieved 28 November 2011. Bioline Therapeutics today pulled off its initial public offering in Tel Aviv, raising NIS 211 million at a company valuation of NIS 494 million, making this the biggest flotation by a biotechnology company in local history. 
  15. ^ Rheinheimer, Laura (8 February 2007). "BioLineRx raises $50m. in TASE's largest biomedical IPO". Jerusalem Post. Retrieved 28 November 2011. BioLineRx Ltd. on Wednesday priced the largest ever initial public offering of a biomedical company on the Tel Aviv Stock Exchange, raising a total of NIS 211 million, or $50m. 
  16. ^ "BioLineRx ADRs Begin Trading on NASDAQ". HighBeam Research. 13 August 2011. Retrieved 28 November 2011. 
  17. ^ Achillion, BioLineRx, J&J Snack, Rubicon: U.S. Equity Movers
  18. ^ http://investing.businessweek.com/research/stocks/people/person.asp?personId=8011457&ticker=BLRX:IT&previousCapId=3274115&previousTitle=EVOGENE%20LTD

External links[edit]