Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 73

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 73
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 improved version of the product
in several European countries. In March 2020, we agreed that Perrigo could relinquish its license rights for certain countries that had
been included in its territory according to the original license agreement, and was also no longer obligated to develop, obtain regulatory
approval for, and commercialize products for a second OTC indication. In turn, in March 2020, we agreed with our licensor of the rights
to BL-5010, Innovative Pharmaceutical Concepts (IPC) Inc., or IPC, to return to IPC those license rights no longer out-licensed to Perrigo
as a result of the agreement described in the preceding sentence, in consideration of the payment to us of royalties or fees on sublicense
receipts.

In-Licensing Agreements

We have in-licensed and intend to continue to in-license development,
production and marketing rights from selected research and academic institutions in order to capitalize on the capabilities and technology
developed by these entities. We also seek to obtain technologies that complement and expand our existing technology base by entering into
license agreements with pharmaceutical and biotechnology companies. When entering into in-license agreements, we generally seek to obtain
unrestricted sublicense rights consistent with our primarily partner-driven strategy. We are generally obligated under these agreements
to diligently pursue product development, make development milestone payments, pay royalties on any product sales and make payments upon
the grant of sublicense rights. We generally insist on the right to terminate any in-license for convenience upon prior written notice
to the licensor.

The scope of payments we are required to make under our in-licensing
agreements is comprised of various components that are paid commensurate with the progressive development and commercialization of our
drug products.

40

Our in-licensing agreements generally provide for the following
types of payments:

  Revenue sharing payments. These are payments to be made to licensors with respect                                                             

  Milestone payments. These payments are generally linked to the successful achievement                                                     

  Royalty payments. To the extent we elect to complete the development, licensing and                                                         

  Additional payments. In addition to the above payments, certain of our in-license                                                                  
  agreements provide for a one-time or periodic payment that is not linked to milestones. Periodic payments may be paid until the commercialization  
  of the product, either by direct sales or sublicenses to third parties. Other agreements provide for the continuation of these payments            
  even following the commercialization of the licensed drug product.                                                                                 
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