BioLineRx, Ltd. (JERUSALEM, Israel), Israel's leading drug development company and a winner of the Red Herring 100 Europe Award as one of the top 100 private companies in Europe (including Israel) that play a leading role in innovation and technology, announced that it has signed an exclusive worldwide license agreement with B.G. Negev (BGN) Technologies Ltd., the technology transfer company of Ben-Gurion University of the Negev, and Mor Research Applications, Ltd., the Technology Transfer Office of Clalit Health Services, for the development and commercialization of BL-3030, a novel antisense drug inhibiting the formation of the enzyme cPLA2 (cytosolic phospholipase A2)for the treatment of inflammatory diseases. BL-3030 was initially discovered by Professor Rachel Levy of Ben-Gurion University and Soroka University Medical Center in Beer Sheva, Israel. BioLineRx plans to develop the drug through its subsidiary BioLine Innovations Jerusalem, under the National Biotech Grant received in November 2004 from the Israeli Office of the Chief Scientist. BioLineRx anticipates an investment of approximately $9 million in order to achieve clinical proof of safety and efficacy for BL-3030. Financial terms of the agreement were not disclosed.

cPLA2 catalyzes the release of arachidonic acid from membrane phospholipids. Arachidonic acid in turn serves as precursor for a wide spectrum of lipid mediators of inflammation that are involved in hemodynamic regulation, inflammatory responses, and other cellular processes. These biological effectors include prostaglandins, thromboxanes, leukotrienes, hydroxy- and epoxy-fatty acids, lipoxins, and isoprostanes. cPLA2 plays a major role in a number of inflammatory diseases including rheumatoid arthritis (RA), asthma, and adult respiratory distress syndrome. The beneficial effects of inhibiting cPLA2 have been effectively demonstrated in a wide array of animal models of inflammatory diseases. Experiments conducted at Ben-Gurion University showed that BL-3030 is effective in vitro in inhibiting both the amount and level of activity of cPLA2 in human cells, and in vivo in treating sterile peritonitis and RA. BioLineRx plans to conduct further optimization studies in the coming year, with investigational new drug–focused preclinical activities for BL-3030 expected to begin in late 2007.

BioLineRx advances projects from early-stage discovery and lead generation to advanced clinical trials, regulatory approval, and marketing. Partnering with researchers, universities, and biotech companies to further the commercialization of promising compounds, BioLineRx seeks to enrich the pipeline of large pharmaceutical companies seeking their next blockbuster drugs. The Company was founded in 2003 by leaders in the Israeli life science arena including Teva Pharmaceuticals Ltd, Giza, Pitango, Hadasit, and the Jerusalem Development Authority.

—A. Techman

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