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BioLineRx Announces Offering of American Depositary Shares

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News

BioLineRx Announces Offering of American Depositary Shares

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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.

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