BioLineRx Announces Offering of American Depositary Shares
News Feb 07, 2013
BioLineRx Ltd. has announced that it has entered into a definitive agreement with leading healthcare investor OrbiMed Israel Partners Limited Partnership, an affiliate of OrbiMed Advisors LLC (“OrbiMed”), pursuant to which OrbiMed has agreed to purchase 2,666,667 American Depositary Shares (“ADSs”), each representing ten (10) of its Ordinary Shares, and 1,600,000 warrants to purchase an additional 1,600,000 ADSs, at a unit price of $3.00.
The warrants have an exercise price of $3.94 per warrant and are exercisable for a term of five years.
The Company will receive proceeds of $8,000,000, before deducting customary offering expenses, which it expects to use to fund clinical trials and for working capital and general corporate purposes.
The offering is expected to close on or about February 11, 2013, subject to satisfaction of customary closing conditions.
"We are extremely pleased to welcome OrbiMed, one of the world’s leading healthcare investment firms, as an investor in BioLineRx," said Dr. Kinneret Savitsky, Chief Executive Officer of BioLineRx.
Dr. Savitsky continued, "The capital raised will help us to continue with the accelerated development of our clinical and pre-clinical stage therapeutic assets."
The offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-182997) previously filed with, and declared effective by, the Securities and Exchange Commission (SEC).
A prospectus supplement and an accompanying prospectus will be filed with the SEC in connection with the offering.
Sartorius Stedim Biotech and Siemens Sign Automation AgreementNews
Siemens becomes a preferred supplier for automation solutions. Product portfolio of Sartorius Stedim Biotech to feature a globally standardized automation platform in the future.READ MORE
Microbiotica Enters into Microbiome Collaboration with GenentechNews
Strategic collaboration for microbiome biomarker signatures and therapeutic discovery based on Genentech’s inflammatory bowel disease pipeline.READ MORE
Chemoradiotherapy Before Surgery Could Extend Lives of Pancreatic Cancer PatientsNews
Pancreatic cancer patients treated with chemotherapy and radiotherapy before surgery may live longer than those who have immediate surgery, according to unpublished clinical trial results.READ MORE