BioLineRx Enters into Share Purchase Agreement with Lincoln Park Capital

  BioLineRx Enters into Share Purchase Agreement with Lincoln Park Capital

Business Wire

JERUSALEM -- September 27, 2012

BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a biopharmaceutical drug
development company, announced today that it has signed a purchase agreement
for the sale, from time to time, of up to $15 million of its American
Depositary Shares (“ADSs”) with Lincoln Park Capital Fund, LLC (“LPC”), a
Chicago-based institutional investor.

During the 36-month term of the purchase agreement, BioLineRx controls the
timing and amount of any sales to LPC, if and when the Company decides, in
accordance with the purchase agreement. LPC has no right to require the
Company to sell any ADSs to LPC, but LPC is obligated to make purchases as
BioLineRx directs, subject to certain conditions. Such conditions include the
effectiveness of a registration statement to be filed with the U.S. Securities
and Exchange Commission covering the resale of the ADSs that may be issued to
LPC. The purchase price related to any sales to LPC will be based on the
prevailing market prices of the Company’s ADSs immediately preceding the
notice of sale to LPC, without any fixed discount. The agreement may be
terminated by the Company at any time, at its sole discretion, without any
cost or penalty.

A more detailed description of the purchase agreement is set forth in the
Company’s current report on Form 6-K recently filed with the SEC.

Dr. Kinneret Savitsky, CEO of BioLineRx, commented, “This new financing
agreement gives us flexible access to capital to support our growing clinical
pipeline. Recently, we in-licensed a Phase II ready asset in the oncology
field and we are seeing additional interesting clinical-stage opportunities in
other therapeutic areas as well. This potential source of funding will allow
us to accelerate the development of these later-stage opportunities, which
have greater potential to reach a partnering transaction within a relatively
short period of time.”

“We currently have a strong cash position, and reported over $30 million in
cash as of June 30, 2012. Therefore, we believe this is the best financing
alternative for BioLine at present, since we can raise capital on an as-needed
basis in small tranches, while responding to market conditions in real time.
We are appreciative of the continued support of LPC, which is a previous
investor and has been an ongoing shareholder in BioLine,” concluded Dr.
Savitsky.

About BioLineRx

BioLineRx is a publicly-traded biopharmaceutical development company.
BioLineRx is dedicated to building a portfolio of products for unmet medical
needs or with advantages over currently available therapies. BioLineRx’s
current portfolio consists of six clinical stage candidates: BL-1020 for
schizophrenia is currently undergoing a Phase II/III study; BL-1040, for
prevention of pathological cardiac remodeling following a myocardial
infarction, which has been out-licensed to Ikaria Inc., is currently
undergoing a pivotal CE-Mark registration trial; BL-5010 for non-surgical
removal of skin lesions has completed a Phase I/II study; BL-1021 for
neuropathic pain is in Phase I development, BL-7040 for treating inflammatory
bowel disease (IBD) has commenced a Phase II trial, and BL-8040 for treating
acute myeloid leukemia (AML) has completed Phase I. In addition, BioLineRx has
nine products in various pre-clinical development stages for a variety of
indications, including central nervous system diseases, infectious diseases,
cardiovascular and autoimmune diseases.

BioLineRx’s business model is based on acquiring molecules mainly from
biotechnological incubators and academic institutions. The Company performs
feasibility assessment studies and development through pre-clinical and
clinical stages, with partial funding from the Israeli Government’s Office of
the Chief Scientist (OCS). The final stage includes partnering with medium and
large pharmaceutical companies for advanced clinical development (Phase III)
and commercialization. For more information on BioLineRx, please visit
www.biolinerx.com.

About Lincoln Park Capital (LPC)

LPC is an institutional investor headquartered in Chicago, Illinois. LPC’s
experienced professionals manage a portfolio of investments in public and
private entities. These investments are in a wide range of companies and
industries emphasizing life sciences, specialty financing, energy and
technology. LPC’s investments range from multiyear financial commitments to
fund growth, to special situation financings and to long-term strategic
capital, offering companies certainty, flexibility and consistency. For more
information, visit www.lincolnparkcapital.com.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities in this offering, nor will there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
are unlawful prior to registration or qualification under securities laws of
any such jurisdiction.

Various statements in this release concerning BioLineRx’s future expectations,
plans and prospects constitute “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
include words such as “may,” “expects,” “anticipates,” “believes,” and
“intends,” and describe opinions about future events. These forward-looking
statements involve known and unknown risks and uncertainties that may cause
the actual results, performance or achievements of BioLineRx to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Some of these risks are: changes
in relationships with collaborators; the impact of competitive products and
technological changes; risks relating to the development of new products; and
the ability to implement technological improvements. These and other factors
are more fully discussed in the “Risk Factors” section of BioLineRx’s most
recent annual report on Form 20-F filed with the Securities and Exchange
Commission on March 22, 2012. In addition, any forward-looking statements
represent BioLineRx’s views only as of the date of this release and should not
be relied upon as representing its views as of any subsequent date. BioLineRx
does not assume any obligation to update any forward-looking statements unless
required by law.

Contact:

KCSA Strategic Communications
Garth Russell / Todd Fromer
1 212-896-1250 / 1 212-896-1215
grussell@kcsa.com / tfromer@kcsa.com
or
BioLineRx
Tsipi Haitovsky
Public Relations
+972-52-598-9892
tsipih@netvision.net.il