Core Points - BioLineRx has entered into a license agreement with Ayrmid Ltd. for its FDA-approved stem cell mobilization agent, motixafortide (APHEXDA), which includes a 87 million, along with royalties on net sales ranging from 18% to 23% [1][3][4] - BioLineRx retains the rights to develop and commercialize motixafortide in solid tumors, including pancreatic ductal adenocarcinoma (PDAC) [1][7] - The agreement allows BioLineRx to significantly reduce its operational expenses and long-term debt, enabling a focus on high unmet needs in oncology and rare diseases [1][5][6] Financial Aspects - The $9 million equity investment from Highbridge Capital Management will support BioLineRx's pipeline and expansion efforts [1][6] - The combination of upfront payments, potential milestones, and royalties is expected to provide a strong financial foundation for BioLineRx to advance its therapeutic pipeline [6] Strategic Developments - Ayrmid will incorporate APHEXDA into its commercial portfolio, which includes Gamida Cell's OMISIRGE®, enhancing its capabilities in the stem cell transplant market [4][9] - BioLineRx plans to continue the development of motixafortide for PDAC through collaborations, including ongoing Phase 2b studies [7] Upcoming Events - BioLineRx will provide further updates during its Q3 results conference call scheduled for November 25, 2024 [1][12]
BioLineRx and Ayrmid Ltd. Enter into Exclusive License Agreement to Commercialize APHEXDA® (motixafortide) through Gamida Cell Ltd.