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BioLineRx Announces Offering Of American Depositary Shares

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.

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