JERUSALEM--(BUSINESS WIRE)--BioLineRx Ltd. (TASE:BLRX), Israel’s leading drug development company, announced today the launch of its Early Development Program (EDP), a new strategic initiative to provide funding for early stage research and development of innovative therapeutics that have not yet achieved in-vivo proof of concept. EDP is funded by a $6 million grant from Pan Atlantic Bank and Trust Ltd. (a wholly owned subsidiary of FCMI Financial Corporation, a Canadian company controlled by Albert D. Friedberg and members of his immediate family) and BioLineRx. The EDP grant is in addition to the $9 million invested in BioLineRx by Pan Atlantic in a private placement in January of this year.
