BioLineRx ADRs Issues
Jul. 25, 2011
Source: BioLineRx Press Release
BioLineRx (TASE: BLRX) (NASDAQ: BLRX), a biopharmaceutical development company, today announced that it has listed and begun trading American Depositary Receipts (ADRs) through BNY Mellon.
Each BioLineRx ADR represents 10 ordinary shares and trades on the NASDAQ Capital Market under the symbol "BLRX." BioLineRx's ordinary shares are also traded on the Tel Aviv Stock Exchange under the symbol "BLRX."
"Listing our ADRs on NASDAQ is an important step in the development and growth of our Company, as we look to expand our presence in the US," said Dr. Kinneret Savitsky, Chief Executive Officer of BioLineRx. “This step is timely given our deep and growing pipeline, including BL-1020, which is in a Phase II/III trial for schizophrenia and has demonstrated cognition improvement, a key unmet need in this population.”
"Israel is widely recognized for its cutting edge biotech and pharma exports," said Michael Cole-Fontayn, Chief Executive Officer of BNY Mellon Depositary Receipts. "We are proud to partner with BioLineRx to bring their story to the global capital markets. We will work to ensure their NASDAQ listing is a success through our long history with Israel and our deep knowledge of the depositary receipt markets."
BioLineRx Ltd. 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 five clinical stage candidates: BL-1020 for schizophrenia is in Phase II/III clinical trials; BL-1040, for treatment of patients following a myocardial infarction has completed a Phase I/II study and has been out-licensed to Ikaria Inc. for a total deal value of $282.5 million, in addition to sales royalties; 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 and BL-7040 for treating Inflammatory Bowel Disease (IBD) 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, oncology, 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 BNY Mellon
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com.