Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 361

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 361
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 45

BioLineRx Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 16 - LICENSE AND SECURITIES PURCHASE AGREEMENTS - HST/GLORIA
In October 2023, the Company closed on a license agreement (the “ Gloria License Agreement”) with Hong Seng Technology Limited (“ HST”) and Guangzhou Gloria Biosciences Co., Ltd. (“ Gloria” and together with HST, the “ Gloria Licensee”), pursuant to which the Company granted HST an exclusive, royalty-bearing, sublicensable license to develop and commercialize motixafortide in Asia (other than Israel and certain other countries) (collectively, the “ Gloria Territory”) and to engage and authorize Gloria to perform services under the Gloria License Agreement in the Gloria Territory. In addition, the Company granted the Gloria Licensee a first offer right with respect to the grant of certain rights in motixafortide outside of the Gloria Territory.
Pursuant to the terms of the Gloria License Agreement, the Gloria Licensee paid an upfront payment of $15million, which was received by the Company at closing. The Company is also entitled to up to $49million based on the achievement of certain development and regulatory milestones in China and Japan, and up to $197million in sales milestones based on defined sales targets of motixafortide in the Gloria Territory. In addition, the Company is eligible to receive tiered double-digit royalties (ranging from10-20%), on a country-by-country basis until the longer of (i) fifteen years from the date of the first sale of motixafortide by the Gloria Licensee, (ii) the last to expire valid claim of any licensed patents with respect to motixafortide in such country and (iii) the expiration of motixafortide’s orphan drug status in such country. The royalties payable by Gloria Licensee are to be reduced by 50% following the end of the initial royalty term and are also to be reduced upon the occurrence of certain events, including, on a country-by-country basis, the entry of a generic product in such country.
In addition, in October 2023, the Company closed on a securities purchase agreement (the “ Gloria Purchase Agreement”) with HST and Gloria, pursuant to which the Company issued in a private placement an aggregate of170,728ADSs of the Company, at a purchase price of $85.44per ADS. Aggregate gross proceeds from the sale were approximately $14.6million, with related