BioLineRx Announces Closing of Exclusive License Agreement to Motixafortide in Asia and Concurrent Strategic Equity Investment
Portfolio Pulse from Benzinga Newsdesk
BioLineRx Ltd. (NASDAQ:BLRX) has closed an exclusive license agreement with Guangzhou Gloria Biosciences Co., Ltd. for the development of motixafortide in Asia. The agreement includes a $15 million upfront payment, up to $50 million in potential development and regulatory milestones in China and Japan, and up to $200 million in potential commercial milestones. Additionally, a $14.6 million equity investment was made in BioLineRx through the purchase of newly issued American Depositary Shares.
October 12, 2023 | 11:05 am
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The exclusive license agreement and equity investment could provide significant financial benefits to BioLineRx, potentially boosting its stock price.
The exclusive license agreement with GloriaBio for the development of motixafortide in Asia, along with the equity investment, could provide significant financial benefits to BioLineRx. This could potentially boost its stock price in the short term.
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