BioLineRx Signs Purchase Agreement With Lincoln Park Capital - Quick Facts

(RTTNews) - BioLineRx (BLRX), a clinical-stage biopharmaceutical company, announced Friday that it has signed a purchase agreement for the sale, from time to time, of up to $20 million of its American Depositary Shares, or ADSs with Lincoln Park Capital Fund, LLC, a Chicago-based institutional investor.

During the 36-month term of the purchase agreement, BioLineRx controls the timing and amount of any sales to LPC, if and when the company decides, in accordance with the purchase agreement.

Kinneret Savitsky, CEO of BioLineRx said, "We believe this is an excellent future financing alternative for BioLine, since we will be able to raise capital on an as-needed basis in small tranches."