JERUSALEM, Israel--(BUSINESS WIRE)--BioLineRx Ltd. (TASE:BLRX), a clinical stage drug development company, today announced that it has signed a worldwide exclusive license agreement with Innovative Pharmaceutical Concepts, Ltd., a privately held company, for the development and commercialization of BL-5010, a novel formulation for the non-surgical removal of skin lesions. Financial terms of the license were not disclosed.
BL-5010 is a convenient treatment that offers an alternative to painful, invasive and expensive removal treatments such as surgery, cryotherapy or laser treatment. Because the treatment is non-invasive, it poses minimal infection risk and no need for anesthesia or bandaging.
“BL-5010 is an exciting product in development that may offer a fast, safe and painless way to eliminate skin lesions,” stated Morris C. Laster, M.D., CEO of BioLineRx. “We look forward to accelerating development of this novel formulation.”
BL-5010 is applied topically on the lesion for a few minutes, and causes the lesion to gradually dry out and shed from the skin within 1-3 weeks. BL-5010 also preserves the cellular structure of the lesion, enabling histological examination.
“Our initial studies of BL-5010 have been promising and we are confident in BioLineRx’s ability to advance development of this formulation, offering a convenient and safe alternative to current treatments,” stated Dr. Pinchas Burstein, CEO of Innovative Pharmaceutical Concepts.
About BioLineRx
BioLineRx, a clinical stage drug development company traded on the Tel Aviv Stock Exchange (TASE:BLRX), is dedicated to building a robust pipeline of promising therapeutics for unmet medical needs. The Company’s leading programs are BL-1020, currently in phase 2 testing for the treatment of schizophrenia and BL-1040 about to enter clinical trials for the treatment of damaged heart tissue post-myocardial infarction. Additional products under development include compounds for the treatment of cancer and CNS, cardiovascular, metabolic, infectious and autoimmune diseases.
BioLineRx advances projects from early stage discovery and lead generation to advanced clinical trials. BioLineRx partners with researchers, universities and biotech companies to further the development of promising compounds. The Company was founded in 2003 by leaders in the Israeli life science arena including Teva Pharmaceuticals Ltd., venture capital firms Giza Venture Capital and Pitango Venture Capital, and Hadasit, the technology transfer company of Hadassah Hospital and the Jerusalem Development Authority. For more information, please visit www.biolinerx.com.
This press release contains “forward-looking statements” that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms including “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would,” “hope,” and similar expressions intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. You should not put undue reliance on any forward-looking statements. Unless we are required to do so under applicable laws, we do not intend to update or revise any forward-looking statements.
Contacts
BioLineRx Ltd.
Yuri Shoshan, +972-2-548-9100
VP Finance and Corporate Development
yuri@biolinerx.com
Tsipi Haitovsky, +972-52-598-9892
Media Liaison
tsipih@biolinerx.com
or
Stern Investor Relations, Inc.
Melanie Friedman, 212-362-1200
melanie@sternir.com
