JERUSALEM--(BUSINESS WIRE)--Sept. 8, 2006--BioLineRx, Ltd., Israel’s leading drug development company, announced today that it has signed an exclusive worldwide license agreement with B.G. Negev (BGN) Technologies Ltd., the technology transfer company of Ben-Gurion University of the Negev, and Mor Research Applications, Ltd., the Technology Transfer Office of Clalit Health Services for the development and commercialization of BL-3030, a novel antisense drug for the treatment of inflammatory diseases. BL-3030 was initially discovered by Professor Rachel Levy of Ben-Gurion University and Soroka University Medical Center in Beer Sheva, Israel. BioLineRx plans to develop the drug through its subsidiary BioLine Innovations Jerusalem, under the National Biotech Grant received in November 2004 from the Israeli Office of the Chief Scientist. BioLineRx anticipates an investment of approximately $9 Million in order to achieve clinical proof of safety and efficacy for BL-3030. Financial terms of the agreement were not disclosed.
