BioLineRx In-Licenses Two Additional Drug Candidates from Tel Aviv University and the Technion...

JERUSALEM -- Leading Drug Development Company Continues In-Licensing Strategy and Advances Pipeline toward Clinical Trials

BioLineRx, Ltd., Israel's leading specialized drug development company, today announced that it has signed two license agreements for the development and commercialization

The worldwide exclusive license agreements were signed with Ramot at Tel Aviv University and The Technion Research and Development Foundations (TRDF) respectively. BioLineRx plans to develop the projects through BioLine Innovations Jerusalem (BIJ) under the National Biotech Grant received in November 2004 from the Israeli Office of the Chief Scientist. BL-2050 has already received approval for entry into the BIJ program and BL-2060 will be submitted for review in the coming weeks.

BL-2050 is a novel drug candidate that has demonstrated in animal models the ability to grow new, stable, functional blood vessels in an ischemic environment. Classical challenges in promoting stable angiogenesis have been long term reperfusion and functional ability in-vivo. BL-2050 operates through a novel non-VEGF pathway discovered by Dr. Britta Hardy and Professor Alexander Battler, the project's inventors, and has already demonstrated in-vivo functionality as well as long term reperfusion. To date many companies have attempted to develop drugs for PVD focused on the VEGF pathway and have failed. According to Dr. Yehuda Niv, CEO of Ramot at Tel Aviv University, "Dr. Hardy and Professor Battler have made significant breakthroughs in the field of angiogenesis with a novel mechanism of action. We have high hopes that through our partnership with BioLineRx, our scientists' innovation will impact the lives of the millions of people around the world suffering from PVD."

BL-2060, licensed from TRDF, is a breakthrough approach to treating bacterial infections, developed by Professor Amram Mor, a member of the Technion Faculty of Biotechnology. Antibacterial peptides have been well known as potent molecules although their systemic use has been limited due to problems of hemolysis. Using his novel system, Professor Mor has generated antibacterial peptides that kill bacteria without causing hemolysis, making this potent class of molecules available for systemic use. According to Benjamin Soffer, head of the Technion's Technology Transfer Office, "Professor Amram Mor's technology for treating bacterial infections has the potential to drastically improve patient care. We are convinced that BioLine has both the conviction and capabilities necessary to make it happen."

BioLineRx also announced today progress on its other pipeline candidates that are advancing toward human clinical trials. BL-1020, BioLineRx's first in class antipsychotic for schizophrenia, is on track for entering human clinical trials in 2006, and was recently presented at the Israeli Society for Neuroscience meeting in Eilat, Israel. BL-1040, BioLineRx's novel treatment for myocardial infarction was the subject of a late breaking abstract at the recent American Heart Association meeting in Dallas, Texas. BL-2040, the company's novel small molecule for hypertension and metabolic syndrome has successfully completed an in-vivo study which mimics the metabolic syndrome, demonstrating high potency in reducing blood pressure, preventing weight gain, and enhancing insulin sensitivity. BioLineRx also announced the termination of its BL-1050 program for the treatment of HIV.

Dr. Morris C. Laster, BioLineRx CEO, added, "BioLineRx is committed to developing a wide array of new drugs that have the potential to promote better and longer lives. The BioLineRx model calls for aggressive advancement towards the clinic of innovative compounds that continue to show promising results while programs with poor results are quickly terminated. We continue to in-license exciting new compounds such as BL-2050 and BL-2060, to maintain a rich pipeline for partnering with global pharmaceutical marketers."

About BioLineRx

Founded in 2003 by leaders in the Israeli life-sciences sector, BioLineRx is building a robust pipeline of promising therapeutics for unmet medical needs. BioLineRx is focused on advancing 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 enriches the pipeline of large pharmaceutical companies seeking their next blockbuster drugs. For more information, please visit www.biolinerx.com.

About Ramot at Tel Aviv University

Ramot at Tel Aviv University Ltd. is the technology transfer company of Tel Aviv University (TAU). Ramot manages all activities relating to the protection and commercialization of inventions and discoveries made by faculty, students and other researchers of TAU. Ramot provides a dynamic interface connecting industry to leading edge science and innovation, offering new business opportunities in a wide variety of emerging markets. Founded in 1963, TAU is one of Israel's foremost research and teaching universities. Located in Israel's cultural, financial and industrial heartland, TAU is at the forefront of basic and applied research in a wide variety of scientific research disciplines. For more information, please visit www.ramot.org.

About the Technion Research and Development Foundation

The Technion Research & Development Foundation Ltd. (TRDF), established in 1952, set among its main goals the promotion of research at the Technion; Technology transfer; Industrial testing and services, and the commercialization of inventions and ideas. Through the years TRDF has taken upon itself a pioneering role in the development stages of the state of Israel. Nowadays, when there is a growing need for multidirectional transfer of knowledge and technologies, from universities and research centers to the industry, where it is developed, improved and put to use, TRDF aims to serve as a constant facilitator for this technology transfer process between academia and society as a whole. For more information please visit www.trdf.co.il.