NEW
YORK, Oct. 31, 2023 /CNW/ -- M.S.Q. Ventures
("MSQ") is pleased to announce that its client, BioLineRx
Ltd. ("BioLineRx") (NASDAQ/TASE: BLRX), has entered into
an exclusive license agreement with Guangzhou Gloria
Biosciences Co., Ltd. (GloriaBio) and an associated investor
for the development of motixafortide across all indications
in Asia.
The license agreement provides for a $15
million upfront payment and an equity investment of
$14.6 million, up to $50
million in potential development and regulatory milestones, up
to $200 million in potential commercial milestones and
tiered double-digit royalties on sales.
"Given GloriaBio's expertise and track record in the
development and commercialization of cancer immunotherapies
in China, we believe GloriaBio is well suited to further
develop motixafortide in Asia. GloriaBio has demonstrated a
clear commitment to the motixafortide programs in stem cell
mobilization and pancreatic cancer in Asia, and this
transaction provides us with additional capital to continue our
launch plans in the U.S.," said Philip Serlin, Chief Executive Officer
of BioLineRx Ltd. "We are very excited about the swift and
successful conclusion of this monumental Asian market licensing
agreement. The MSQ team showed remarkable agility and a deep
understanding of mutual benefits to both parties right from our
initial discussions. MSQ's disciplined deal management ensured a
seamless process. Echo, with her visionary leadership, expertise,
and impressive execution skills, played a key role in making this
collaboration happen."
"We are pleased to enter into this strategic partnership with
BioLineRx and are committed to the development and
commercialization of motixafortide in Asia, which we believe
will bring additional value to GloriaBio's portfolio via clear
synergies with zimberelimab," said Jiman Zhu, Founder of GloriaBio. "The MSQ
team's great efforts made a huge impact on the closing of this
successful transaction in such a short time. The MSQ team provided
valuable advice for both sides. We are impressed with the MSQ
team's extensive knowledge of financial structures and drug
development".
Echo Hindle-Yang, CEO of MSQ, reflecting on the
transaction, "We're thrilled about the cross-border collaboration
between BioLineRx, the pioneering company behind FDA-approved
APHEXDA™ (motixafortide), and GloriaBio, the team behind
the PD-1 inhibitor YuTuo® (zimberelimab). This
partnership showcases their commitment to advancing global drug
development and benefiting patients on a global scale. BioLineRx
brings an innovative pipeline, successful FDA approval of
APHEXDA™ for stem cell mobilization, strategic
collaboration abilities, and a seasoned team to the table. On the
other hand, GloriaBio, with their expertise in cancer
immunotherapies, clinical development capabilities, and strong
commercialization capabilities in Asia, is a formidable partner. The dedication
of leaders like Mr. Serlin, Dr. Zhu, and their stellar teams played
a pivotal role in swiftly achieving the success of this
transformative deal. As part of this momentous partnership, we
eagerly anticipate the positive developments ahead, promising an
even brighter future for global patients."
About MSQ
M.S.Q. Ventures is a New
York-based cross-border advisory firm that bridges the
healthcare industries globally by offering our deep knowledge,
strong network, and local insights.
info@msqventures.com
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SOURCE MSQ Ventures