Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 357

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 357
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        )       ( 0.01         )   

In 2024, the number of shares used in the basic calculation includes7,348,587pre-funded warrants.

Outstanding options and ordinary warrants have been excluded from the calculation of the diluted loss per share for all years presented, since their effect was anti-dilutive.

F - 41

BioLineRx Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 15 - COMMITMENTS AND CONTINGENT LIABILITIES

  Commitments  

  Obligation to pay royalties to the State of Israel  

Royalties may be payable to the State of Israel (represented by the Israel Innovation Authority, or IIA), on proceeds from the sale or license of products whose development was supported by grants fromthe IIA. Such royalties are generally3% in the first three years from initial repayment,4% of sales in the three subsequent years and5% of sales in the seventh year until repayment of100% of the grants (linked to the dollar) received, plus annual interest at the 12-month SOFR rate as published on the first trading day of each calendar year. Under certain circumstances, the royalty rate is calculated according to a formula based on the ratio of participation by the IIA in the project to the project’s total accumulated costs.

Other than motixafortide (see next paragraph), the Company does not have any royalty obligation in respect of products supported by the IIA.

In connection with the in-licensing of motixafortide from Biokine Therapeutics Ltd. (“ Biokine”), and as a condition to IIA consent to the transaction, the Company agreed to abide by any obligations resulting from funds previously received by Biokine from the IIA. The contingent liability to the IIA assumed by the Company relating to this transaction amounts to $2.7million as of December 31, 2024. In this regard, and in connection with the outlicensing transactions with Gloria (see Note 16) and with Ayrmid (see Note 17), as well as with the direct sales of motixafortide in the U. S. during the period from product launch through the transaction with Ayrmid, the royalty rate agreed with the IIA for motixafortide consideration received is 3.9% for sub-license consideration and 4% for direct product sales. The Company has a full right of offset for amounts payable to the IIA from all payments due to Biokine in the