BioLineRx buys UK firm to expand immuno-oncology pipeline

23 March 2017

Israeli clinical-stage biotech firm BioLineRx (TASE: BLRX) said today that it has acquired Agalimmune, a private UK-based company with an innovative, anti-cancer immunotherapy platform.

The acquisition consideration consisted of a $6 million upfront payment, of which $3 million is in cash and the remainder in BioLineRx shares. Additional future payments may be made based on development and commercial milestones. BioLineRx’ shares were up 3% at 404.90 Israeli shekels by close of trading today.

This is the first significant move by new BioLineRx chief executive Philip Serlin, who replaced Dr Kinneret Savitsky in the position six months ago, noted the Israeli business news organization Globes.

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