Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 77

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 77
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 to the licensed technology, which would revert to IPC. In addition, any sublicense of the licensed technology will terminate provided
that, upon termination, at the request of the sublicensee, IPC is required to enter into a license agreement with the sublicensee on substantially
the same terms as those contained in the sublicense agreement.

AGI-134

In March 2017, we acquired substantially all of the outstanding shares of Agalimmune
and entered into a development agreement with Agalimmune and its selling shareholders, or the Agalimmune Development Agreement. The compound
is a synthetic alpha-gal immunotherapy in development for solid tumors. AGI-134 harnesses the body’s pre-existing, highly abundant,
anti-alpha-gal, or anti-Gal, antibodies to induce a systemic, specific anti-tumor response to the patient’s own tumor neo-antigens.
This response is designed to not only kill the tumor cells at the site of injection, but also to bring about a durable, follow-on, anti-metastatic
immune response. In December 2023, we determined to terminate development of AGI-134 and provided notice of our intent to terminate the
Agalimmune Development Agreement effective March 15, 2024.

The Agalimmune Development Agreement provides the selling shareholders
with a reversionary option, in the event of certain triggering events, including termination by us, that permits the selling shareholders
to re-acquire our equity interests in Agalimmune for nominal consideration. The reversionary option was not exercised and we intend to
either transfer ownership of Agalimmune to a third party, or to liquidate it during 2025.

Intellectual Property

Our success depends in part on our ability to obtain and maintain
proprietary protection for our therapeutic candidates, technology and know-how, to operate without infringing the proprietary rights of
others and to prevent others from infringing our proprietary rights. Our policy is to seek to protect our proprietary position by, among
other methods, filing U. S. and foreign patent applications related to our proprietary technology, inventions and improvements that are
important to the development of our business. We also rely on trade secrets, know-how and continuing technological innovation, as well
as on regulatory exclusivity, such as Orphan Drug designation or new chemical entity, or NCE, protection to develop and maintain our proprietary
position.

Patents

As of March 16, 2025, we owned or exclusively licensed for use
within our field of business