BioLineRx Ltd. (TLV:BLRX) has announced recently that its largest shareholder, BVF Partners L.P.(BVF) has entered into an agreement to give an additional investment worth $9.6 million to BioLineRx thus increasing its financial interest in the company to over 24.9%. The definitive agreement is supposed to close today, subject to meeting all the customary conditions of both companies.
The latest BVF investment will be priced at $1.13 each unit which comprises of one ordinary share of 0.35 of series A and B warrants. According to Mark Lampert, the Founder of BVF, the agreement provides a great opportunity to extend its investment to support the BioLineRx’s strategic collaborations and scientific capabilities in its continued clinical programs development.
BioLineRx recognized BVF’s support and confidence in them stating that the new direct investment provides them with additional resources to increase their clinical enhancement programs. As they continue to accomplish its clinical development strategy, BioLineRx looks forward obtain significant data from its numerous clinical studies.
BioLineRx is distinguished as one of the best biotech companies across the world that has a remarkable value in the stock market and a bright and prosperous future. The company has a promising pipeline and a strong base that has potential to rebound. The pipeline is already leading with one of its candidate BL-8040 being a prospective blockbuster with several indications.
BioLineRx has been making considerable partnership and pipeline program and though its stock price fluctuates on the market, the company has a promising future in partnerships with some of the top companies in the industry including Genentech, Merck, Novartis, BVF which is one of the largest shareholders in the Company. BioLineRx Pipeline is largely focused on finding better treatments for cancer, immunology, and other conditions including the skin lesions.
BioLineRx’s focus on the oncology and immunology has enabled them to develop in-licenses new compounds through its pre-clinical or clinical stages that it partners with largest pharmaceutical firms for sophisticated clinical development and commercialization. The company also has a strategic partnership with Novartis for the development of selective Israel-sourced new drug candidates.