BioLineRx Announces Additional Investment From BVF Partners L.P.

TEL AVIV, Israel, July 26, 2017 /PRNewswire/ --

BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a clinical-stage biopharmaceutical company focused on oncology and immunology, today announced that BVF Partners L.P. (BVF), its largest shareholder, has entered into a definitive agreement to make an additional, direct investment of $9.6 million in BioLineRx, increasing its economic interest in the Company to 24.9%. The sale is expected to close on or about July 31, 2017, subject to satisfaction of customary closing conditions.

BVF's new investment is priced at $1.13 per unit. Each unit consists of 1 ordinary share, 0.35 of a Series A warrant, and 0.35 of a Series B warrant. The Series A warrants have an exercise price of $2.00 per ordinary share and a 4-year term. The Series B warrants have an exercise price of $4.00 per ordinary share and a 4-year term. The securities are being offered pursuant to a prospectus as a registered direct placement.

Mark Lampert, Founder and President of BVF Partners L.P., commented: "BioLineRx's therapeutic pipeline, strategic collaborations, scientific breadth and capabilities provide for a compelling investment opportunity for BVF. We are pleased to support the Company in the continued advancement of its clinical programs."

Philip A. Serlin, Chief Executive Officer of BioLineRx, remarked, "We thank BVF for their support and confidence. BVF's new direct investment, on the heels of its recent initial investment in the Company this past March, provides us with additional resources to accelerate our clinical development programs. We continue to execute on our clinical development strategy and look forward to the data readouts from our multiple clinical studies."

The securities will be issued pursuant to a shelf registration statement that was previously filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). A prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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