- BioLineRx Ltd BLRX entered into a $40 million non-dilutive secured debt financing agreement with Kreos Capital.
- Under the terms of the agreement, the first tranche of $10 million was made available to BioLineRx upon execution of the definitive agreement.
- The remaining $30 million will be made available in two additional tranches subject to the achievement of predefined milestones.
- Slices are available for collection at BioLineRx’s discretion at various times through October 1, 2024.
- BioLineRx will use the funds to support an aggressive commercial launch of Motixafortide in the mobilization of autologous stem cells for patients with multiple myeloma if approved, while continuing to evaluate commercialization strategies in the United States.
- BioLineRx recently submitted a marketing application to the FDA seeking marketing approval for this underserved hematology/oncology indication.
- As of June 30, BioLineRx reported cash and cash equivalents of $43.2 million.
- Price action: BLRX shares are up 9.09% at $1.68 when last checked on Thursday.
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