Three months ago, the company announced promising preliminary clinical trial results.
BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX), run by CEO Kinneret Savitsky, has successfully completed a fully underwritten public offering in the US. The company, which identifies, purchases, and develops promising drugs, issued 9.66 million American Depositary Shares (ADSs), each of which represents ten ordinary shares, at $2.50 per ADS for a gross total of $24.1 million. The amount includes an additional 1.26 million ADSs purchased by the underwriters at $2.50 per ADS under their over-allotment option for a total of $3.1 million.
Three months ago, BiolineRX published promising preliminary results in the Phase II clinical trial of BL-8040 for the treatment of relapsing acute myeloid leukemia. The preliminary results show that BL-8040 in combination with high-dose Cytarabine (Ara-C), is safe at all doses tested to date. The results also show that the drug triggers substantial mobilization of cancer cells from the bone marrow to the peripheral blood, thereby increasing the vulnerability of the cells to chemotherapy treatment. In addition, signs of robust apoptosis (cell death) of cancer cells were observed following administration of the higher doses tested to date.
Published by Globes [online], Israel business news - www.globes-online.com - on March 9, 2014
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