The firm was established in 2003 as a joint venture of Teva, Hadasit Bio-Holdings, the Jerusalem Development Authority, Yehuda Zisapel, and other investors.[3] It executed an initial public offering on the Tel Aviv Stock Exchange in February 2007, raising 211 million NIS ($50 million) – the TASE's largest biotech IPO until that time.[4][5] In July 2011 BioLine's ADRs began trading on the NASDAQ Capital Market.[6][7] In January 2012, the firm announced a deal with Genoscience, a French pharmaceutical company to jointly develop and market the BL-8020 compound, as a treatment for Hepatitis C.[8] At the end of 2014, Novartis acquired a 12.8% stake in the company as a strategic move to gain access to Israeli-sourced drug candidates.[2]
Management
Morris Laster, (M.D.) an alumnus of. Downstate Medical Center, was CEO of BioLineRx until 2009. He was replaced by Kinneret Savitsky, alumnus of Tel Aviv University early in 2010.[9] Savitsky was replaced as CEO by BioLine COO Philip Serlin on October 10, 2016.
Operations
Previous logo
BioLineRx is a drug development company When promising compounds are discovered, the firm leads them through preclinical trials and engages other companies to further develop them into commercializable drugs.[10] The company entered into its first major commercialization agreement in 2009 when it partnered with Ikaria Holdings Inc. to develop its BL-1040 compound.[11] 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.[12]
Pipeline
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.
^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.
^Rheinheimer, Laura (8 February 2007). "BioLineRx raises $50m. in TASE's largest biomedical IPO". The 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.
