BioLineRx Ltd. (BLRX), a biopharmaceutical company at the commercial stage, has secured a licensing agreement with Ayrmid Ltd, the parent company of Gamida Cell Ltd, to advance and commercialize APHEXDA. This deal grants BioLineRx an initial payment of $10 million.
APHEXDA, known as motixafortide, is a drug designed to mobilize stem cells from the bone marrow to the bloodstream, facilitating their collection for stem cell transplants. This treatment targets adults with multiple myeloma undergoing transplantation and is typically administered alongside filgrastim.
The U.S. granted approval for motixafortide's use with filgrastim (G-CSF) on September 11, 2023, recognizing its role in mobilizing stem cells for collection and autologous transplant in individuals with multiple myeloma.
Through this agreement, BioLineRx aims to reduce its long-term liabilities and operational expenditures. Besides the initial $10 million, the company stands to gain up to $87 million in additional milestone payments, together with royalty fees ranging from 18% to 23% on the net sales of APHEXDA.
The agreement with Ayrmid empowers them with development and marketing rights for APHEXDA, with the exception of its application for solid tumor treatments and in territories excluding Asia.
Furthermore, BioLineRx has arranged a share purchase agreement involving a $9 million investment from Highbridge Capital Management, LLC, which will support its pipeline development and enable exploration of new projects. This transaction is anticipated to conclude by November 21.
Ayrmid plans to add APHEXDA to its portfolio, complementing Gamida Cell’s OMISIRGE, the sole FDA-approved NAM-modified cell therapy for blood cancer patients requiring stem cell transplants.
The company intends to further develop motixafortide for use in pancreatic cancer (PDAC) through strategic partnerships.
On the stock market, BLRX concluded Wednesday's trading session at $0.54, reflecting a 1.36% increase. In premarket trading today, the stock has risen by 8.09% to $0.04.
