BioLineRx, Ayrmid enter license agreement for motixafortide through Gamida Cell

BioLineRx (BLRX) and Ayrmid, the parent company of Gamida Cell (GMDA), announced that the companies entered into a license agreement for motixafortide, BioLineRx’s FDA-approved stem cell mobilization agent indicated in combination with filgrastim for collection and subsequent autologous transplantation in patients with multiple myeloma. Under the terms of the agreement, BioLineRx granted Ayrmid an exclusive license to develop and commercialize Aphexda across all indications, excluding solid tumor indications, and in all territories other than Asia. BioLineRx previously granted an exclusive license agreement to Gloria Biosciences for Aphexda in the Asia region. In exchange for the license, BioLineRx will receive a $10M upfront payment and is also eligible to receive up to an additional $87M of potential commercial milestones, plus royalties ranging from 18% to 23% on net sales of Aphexda. Ayrmid will add Aphexda to its commercial portfolio, which also includes Gamida Cell’s Omisirge, the first and only FDA-approved, nicotinamide, or NAM-modified cell therapy for patients with hematologic malignancies in need of a stem cell transplant. As part of this transaction, Ayrmid expects to transition certain members of BioLineRx’s U.S.-based commercial organization, who will support both stem cell transplant drugs. Through this transaction, BioLineRx will significantly reduce its long-term debt and operational expenses, which will be reviewed in detail during the company’s upcoming Q3 results conference call and webcast. BioLineRx also entered into a share purchase agreement for a $9M equity investment from certain funds managed by Highbridge Capital Management, LLC. This investment and the combined future potential commercial milestones from licensing agreements with Ayrmid and Gloria Biosciences, as well as royalties on net sales, are expected to provide a strong foundation for BioLineRx to advance its pipeline and identify potential additional assets for development. The equity investment is expected to close today, November 21, subject to the satisfaction of customary closing conditions. BioLineRx will continue the development of motixafortide for pancreatic ductal adenocarcinoma through meaningful collaborations, including an active Phase 2b PDAC study led by Columbia University, and supported equally by BioLineRx and Regeneron, as well as a planned Phase 2b PDAC study in China led by Gloria Biosciences.