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Drug Names(s): BL1220, BL 1220
Description: BL-1220 is an orally administered novel composition of sodium alginate.
BioLineRx and Novartis
In December 2014, BioLineRx announced that it has entered into a multi-year strategic collaboration agreement with Novartis Pharma designed to facilitate development and commercialization of Israeli-sourced drug candidates.Novartis will evaluate projects identified and presented by BioLineRx for co-development and potential future licensing under the collaboration. The companies intend to co-develop a number of pre-clinical and early clinical therapeutic projects through clinical proof-of-concept. As part of the agreement, Novartis has made an initial equity investment in BioLineRx of $10 million for 12.8% of BioLineRxs current shares outstanding.
Under the terms of the agreement, Novartis acquired an initial 5,000,000 American Depositary Shares of BioLineRx in a private transaction at a price of $2.00 per share for a total equity investment of $10 million. Novartis will not have any governance rights and has agreed to certain standstill...See full deal structure in Biomedtracker
Partners: Novartis AG
Pink Sheet Chart: FDA Recalls -- July 8, 2009
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