BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX) today announced that it has obtained a US patent for the composition of BL-1040, its novel medical device for prevention of cardiac remodeling following an acute myocardial infarction (change in the heart muscle after a heart attack). The patent is value until August 2026.
BiolineRX has already received, or applied for, patents for BL-1040 Europe, Japan, Canada, Korea, Mexico, Israel, India, China and Australia.
BL-1040 is a medical device that is injected to patients following a heart attack to prevent ventricular remodeling - structural alteration of the damaged heart muscle that occurs after an acute heart attack - and subsequent congestive heart failure.
In June 2009, BioLineRx out-licensed BL-1040 to Ikaria Inc. to develop and commercialize for BL-1040, a bioabsorbable cardiac matrix, and Ikaria began a Phase I clinical trial and an EU CE Mark registration trial for the drug.
BiolineRX CEO Dr. Kinneret Savitsky said, "Currently approximately 1.5 million cases of myocardial infarction occur annually in the US alone, many of which result in irreversible pathological cardiac remodeling. BL-1040 has demonstrated efficacy at preventing cardiac remodeling following an acute myocardial infarction in pre-clinical studies, giving new hope to patients around the world."
BiolineRX's share price rose 7.8% in morning trading on the TASE today to NIS 1.25, after falling 2.2% on Nasdaq yesterday to $3.03, giving a market cap of $40 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 29, 2012
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