BioLineRx Announces Pricing of Initial Public Offering on Tel Aviv Stock Exchange Raising US $50 Million.Company Also Announces Receipt of $9 Million Investment by Pan Atlantic Bank and Trust Limited JERUSALEM -- BioLineRx Ltd., Israel's leading drug development company, announced today the pricing of its Initial Public Offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) of 28,690,000 shares of common stock at approximately $1.74 per share. The total amount raised in the IPO was $50 million. This marks the largest IPO on the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) ) of a biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. company. BioLineRx's common stock will be listed on the TASE under the trading symbol Trading symbol See: Ticker symbol "BLRX". BioLineRx also announced today the conversion to equity of a US $9 million convertible loan it received last month from Pan Atlantic Bank and Trust Limited (part of the Friedberg Group). Clal Finance Underwriting and Leader Capital Markets led the public offering, which included previous investors Teva Pharmaceuticals Ltd., Giza Venture Capital, Pitango Venture Capital, and Hadasit. Prior to the IPO, BioLineRx's shareholders invested approximately $32 million in the company. Aharon Schwartz, Ph.D., BioLineRx's Chairman of the Board and Vice President, Strategic Business Planning and New Ventures, Teva Pharmaceuticals, said, "We are pleased with the unprecedented vote of confidence that we received from the public and institutional investors. BioLineRx is a unique company that combines an impressive management team with a unique and efficient drug development infrastructure supported by the Israeli Office of Chief Scientist through its national biotechnology incubator grant. I am confident that BioLineRx will justify this vote of confidence by advancing the development of novel therapies based on cutting-edge research generated by Israel's leading academic institutions." "We expect to apply this significant capital to the accelerated development of our therapeutic pipeline that currently consists of 10 drug candidates, 3 of which are in clinical studies or are about to enter the clinic," said Morris C. Laster, MD, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BioLineRx. "In the coming year, we plan to initiate Phase 2 clinical trials phase 2 clinical trial Phase 2 study. See Phase study. of BL-1020, for the treatment of schizophrenia The concept of a cure as such in the treatment of schizophrenia remains controversial, as there is no consensus on the definition of "treatment" in the case of schizophrenia, although some criteria for the remission of symptoms have recently been suggested. , and a Phase 1/2 study for BL-1040, for the treatment of damaged heart tissue following myocardial infarction myocardial infarction: see under infarction. . We will also continue to develop and accelerate the remainder of our pipeline and continuously screen and in-license promising new drug candidates." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction or state. About BioLineRx Ltd. BioLineRx is Israel's leading clinical-stage drug development company dedicated to building a robust pipeline of promising therapeutics for unmet medical needs. The company advances projects from early stage discovery and lead generation to advanced clinical trials, regulatory approval and marketing. Partnering with researchers, universities and biotech companies to further the commercialization of promising compounds, BioLineRx seeks to enrich the pipeline of large pharmaceutical companies seeking their next blockbuster drugs. The Company was founded in 2003 by leaders in the Israeli life science arena including Teva Pharmaceuticals Ltd., Giza, Pitango and Hadasit. For more information, please visit www.biolinerx.com. About Pan Atlantic Bank and Trust Limited Pan Atlantic Bank and Trust Limited is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of FCMI FCMI Fellow of the Chartered Management Institute (UK) FCMI Fuel-Cladding Mechanical Interaction FCMI Fellowship of Christian Ministries International FCMI Fibre Channel Methodology for Interconnects Financial Corporation, a Canadian company controlled by Albert Dov Friedberg and members of his immediate family. Mr. Friedberg is the founder, president, director and the portfolio manager of the Friedberg Mercantile Group Ltd., a full service brokerage firm and asset manager providing a wide range of financial and investment services to worldwide individual, corporate and institutional clients. He has written and published a number of articles on financial and economic matters, as well as publishing "Friedberg's Commodity & Currency Comments" analyzing investment trends and strategies related to commodity and currency markets. Mr. Friedberg was appointed by the Premier of the Province of Ontario as one of the five members of the Commodity Futures Advisory Board of Ontario and served as Chairman of the Toronto Futures Exchange Futures Exchange Traditionally, a term referring to a central marketplace where futures contracts and options on futures contracts are traded. More recently, with the growth in electronic trading, it is also used to describe the activity of futures trading itself. for three terms. |
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