Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 54

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 54
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 in Israel in the fields of oncology and rare diseases, at a significantly
reduced annual cash burn rate.

We have retained the rights to develop motixafortide across all solid tumor indications,
in all territories other than Asia, including in PDAC, for which an investigator-initiated Phase 2b trial, sponsored by Columbia University,
and supported equally by us and Regeneron, is ongoing at a relatively minimal cost to us. We expect this program to continue to advance
without any significant expense to us.

A key component of our strategy moving forward is to in-license
additional assets in oncology and/or rare diseases that exhibit distinct advantages over currently available therapies or address unmet
medical needs that we can advance through clinical development. We have generated our pipeline by systematically identifying, rigorously
validating and in-licensing therapeutic candidates that we believe exhibit a high probability of therapeutic and commercial success. We
have substantial experience in scouting and assessing assets in transactions with back-ended, success-based consideration, which can be
acquired or licensed for a modest upfront payment, and with relatively modest and affordable clinical development programs. We are actively
working on this initiative and are being presented with many promising opportunities that meet these criteria.

Our longer-term vision is to develop innovative assets with significant
potential value whose development costs have been offset by the royalties and milestones from our existing motixafortide partnerships.
We aim to continue pursuing new partnerships on these programs to create additional value for our shareholders.

With headquarters and development operations in Israel, we are
driving innovative therapeutics with end-to-end expertise in development, ensuring life-changing discoveries move beyond the bench to
the bedside.

We use “ APHEXDA” when referring to our FDA approved
drug and “motixafortide” when referring to our development of APHEXDA for additional indications.

Recent Developments

Out Licensing of Motixafortide in All Territories
Except Asia

On November 20, 2024, we entered into a license agreement, or
the Ayrmid License Agreement, with Ayrmid Pharma Ltd., or Ayrmid, pursuant to which we granted to Ayrmid an exclusive, transferable, royalty-bearing,
sublicensable license with respect to the intellectual property rights and know-how associated with motixafortide, in order to commercialize
motixafortide across all indications, except solid tumor indications, in all territories other than Asia, or collectively, the Ayrmid
Territory.

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Pursuant