Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 364

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 364
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 or bankruptcy.

Concurrent with the above transaction, the Company completed a registered direct offering with gross proceeds of $9.0million to certain funds associated with Highbridge, a related party to Ayrmid (see Note 12c(4)).

In accordance with IFRS 15, both transactions have been treated as a single unit of account, with the consideration combined and subsequently allocated between the Ayrmid License agreement and the registered direct offering. Of the total consideration amounting to $19.0million, $7.8million were allocated to the Ayrmid License Agreement, and $11.2million were allocated to the registered direct offering. Costs in the amount of $0.1million directly attributable to the registered direct offering were recognized as a reduction in equity. The proceeds allocated to the ordinary warrants in the registered direct offering were measured with reference to their fair value as financial instruments issued to a customer.

The consideration allocated to the Ayrmid License Agreement of $7.8million was attributed to a single material performance obligation - i. e., the granting of the license to commercialize and develop motixafortide in the Ayrmid Territory. Accordingly, revenue from the license of $7.8million was recognized during the fourth quarter of 2024, upon transfer of control over the Ayrmid License to the licensee. Sales-based milestone payments and royalties based on motixafortide net sales are subject to the “royalties exception” of IFRS 15 and will be recognized as revenue when the related sale occurs.

F - 48

BioLineRx Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 18 - TRANSACTIONS AND BALANCES WITH RELATED PARTIES
Transactions with related parties
Expenses:
Year ended December 31,
Year ended December 31,
2022 2023 2024
2022 2023 2024
─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
in USD thousands
Benefits to related parties:
Compensation and benefits to senior management, including benefit component of equity instrument grants 2,968 3,155 2,396
Compensation and benefits to directors, including benefit component of equity instrument grants 507 587 415
Regarding transactions and balances related to Gloria, see Note 16.
Key management compensation
Key management includes directors and executive officers. The compensation paid or payable to key management for services during each