JERUSALEM, Feb. 24, 2014 /PRNewswire/ -- BioLineRx (NASDAQ: BLRX; TASE: BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, announced today the appointment of Sandra Panem, Ph.D., to its Board of Directors.
Dr. Panem has had an extensive and impressive career in the healthcare and life sciences industries in the U.S. Her experience encompasses corporate and financial strategy, corporate governance, venture capital, technology assessment, research management and public policy. Dr. Panem is currently a Managing Partner at Cross Atlantic Partners and serves on the Board of Directors of Acorda Therapeutics, Inc. (NASDAQ: ACOR), GenomeQuest, Inc., Labcyte, Inc. and MDx Medical (Vitals.com).
"We are thrilled to have Dr. Sandra Panem join BioLineRx's Board," said Aharon Schwartz, Ph.D., Chairman of the Board of BioLineRx. "Sandra brings to BioLineRx a unique track record in healthcare strategy, technology assessment and capital markets experience, and we expect that she will add great value to our Company as we continue to accelerate the development of our clinical and pre-clinical pipeline towards commercialization. We also believe that her appointment to the Board, along with the appointment of Dr. BJ Bormann in the second half of last year, emphasizes BioLineRx's continued commitment to the US market."Dr. Panem stated, "I am very excited to join the Board of BioLineRx. I look forward to working with the Company to help guide the strategy and development of its pipeline of exciting product candidates. I am encouraged by the Company's strong track record of identifying and vetting promising new compounds, and I plan to leverage my expertise and relationships across the healthcare industry in order to maximize the potential of these assets." Dr. Panem has served on numerous Boards of public and private companies, including Martek Biosciences (NASDAQ:MATK), IBAH Pharmaceuticals (IBAH), Confluent Surgical and Molecular Informatics. Her previous positions include President of Vector Fund Management; Vice President and Portfolio Manager for the Oppenheimer Global BioTech Fund, a mutual fund that invested in public and private biotechnology companies; and Vice President at Salomon Brothers Venture Capital, a fund focused on early and later-stage life sciences and technology investments. She was also a Science and Public Policy Fellow in economic studies at the Brookings Institution, and an Assistant Professor of Pathology at the University of Chicago. Dr. Panem received a B.Sc. in Biochemistry and a Ph.D. in Microbiology from the University of Chicago. About BioLineRxBioLineRx is a publicly-traded, clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates. The Company in-licenses novel compounds primarily from academic institutions and biotech companies based in Israel, develops them through pre-clinical and/or clinical stages, and then partners with pharmaceutical companies for advanced clinical development and/or commercialization. BioLineRx's current portfolio consists of a variety of clinical and pre-clinical projects, including: BL-1040 for prevention of pathological cardiac remodeling following a myocardial infarction, which has been out-licensed to Bellerophon BCM (f/k/a Ikaria) and is in the midst of a pivotal CE-Mark registration trial; BL-8040 for treating acute myeloid leukemia (AML) and other hematological indications, which is in the midst of a Phase 2 study; BL-7010 for celiac disease, which is in the midst of a Phase 1/2 study; and BL-5010 for non-surgical removal of skin lesions, which is expected to commence a pivotal CE-mark registration trial in the first half of 2014.