BioLineRx collaborates with Chinese firm on hep C drug BL-8030

Israeli drug developer BioLineRx (TASE: BLRX) has signed an out-licensing agreement with Jiangsu Chia-tai Tianqing Pharmaceutical Co (CTTQ), a leading Chinese pharmaceutical company in the liver disease therapeutic area, for the development and commercialization of BL-8030, an orally available treatment for the hepatitis C virus (HCV).

Under the terms of the accord, BioLineRx will grant CTTQ exclusive rights to develop, manufacture and commercialize BL-8030 in China and Hong Kong. CTTQ will pay BioLineRx an upfront license fee, plus future development, regulatory and commercialization milestones, for a total potential deal value of around $30 million. In addition, BioLineRx has the right to receive high single-digit royalties on future sales of the drug.

BioLineRx will retain the right to develop and commercialize BL-8030 in other parts of the world. CTTQ will adhere to Food and Drug Administration and European Medicines Agency guidelines in preclinical development and manufacturing of BL-8030. BioLineRx will have access to all development and regulatory data generated by CTTQ, as well as the right to use this data for commercialization and regulatory purposes in all areas of the world outside of China and Hong Kong.