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BioLineRx Announces Offering of American Depositary Shares

  BioLineRx Announces Offering of American Depositary Shares

Business Wire

JERUSALEM -- February 6, 2013

BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a biopharmaceutical development
company, announced today that it has entered into a definitive agreement with
leading healthcare investor OrbiMed Israel Partners Limited Partnership, an
affiliate of OrbiMed Advisors LLC (“OrbiMed”), pursuant to which OrbiMed has
agreed to purchase 2,666,667 American Depositary Shares (“ADSs”), each
representing ten (10) of its Ordinary Shares, and 1,600,000 warrants to
purchase an additional 1,600,000 ADSs, at a unit price of $3.00. The warrants
have an exercise price of $3.94 per warrant and are exercisable for a term of
five years.

The Company will receive proceeds of $8,000,000, before deducting customary
offering expenses, which it expects to use to fund clinical trials and for
working capital and general corporate purposes.

The offering is expected to close on or about February 11, 2013, subject to
satisfaction of customary closing conditions.

"We are extremely pleased to welcome OrbiMed, one of the world’s leading
healthcare investment firms, as an investor in BioLineRx," said Dr. Kinneret
Savitsky, Chief Executive Officer of BioLineRx. "The capital raised will help
us to continue with the accelerated development of our clinical and
pre-clinical stage therapeutic assets."

The offering is being made pursuant to an effective shelf registration
statement on Form F-3 (File No. 333-182997) previously filed with, and
declared effective by, the Securities and Exchange Commission (SEC). A
prospectus supplement and an accompanying prospectus will be filed with the
SEC in connection with the offering. Before you invest, you should read the
base prospectus in such shelf registration statement, the prospectus
supplement, and other documents the Company has filed with the SEC, for more
complete information about the Company and this offering. The offering may be
made only by means of a prospectus supplement and the accompanying prospectus,
copies of which may be obtained for free by visiting EDGAR on the SEC website
at www.sec.gov or by sending a request to the offices of the Company, P.O. Box
45158, 19 Hartum Street, Jerusalem 91450, Israel, or by telephone at +
972-2-548-9100, or email: info@BioLineRx.com.

This press release shall not constitute an offer to sell, or the solicitation
of an offer to buy, any of the ADSs, Ordinary Shares, or Warrants of the
Company, nor shall there be any sale of these ADSs, Ordinary Shares or
Warrants of the Company, in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.

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) is currently undergoing a Phase II trial, and BL-8040 for
treating acute myeloid leukemia (AML) and other hematological cancers has
completed Phase I. In addition, BioLineRx has eight 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, the content of which does not form a part of this press
release.

Various statements in this release concerning BioLineRx’s future expectations
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: risks and uncertainties
associated with market conditions and the satisfaction of customary closing
conditions related to the proposed offering. 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, 1-212-896-1250
grussell@kcsa.com
or
Todd Fromer, 1-212-896-1215
tfromer@kcsa.com
or
Tsipi Haitovsky, Public Relations
+972-52-598-9892
tsipih@netvision.net.il
 
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