Israel’s BioLineRx has entered into a licensing agreement with Guangzhou Gloria Biosciences Co., Ltd., based in China, focusing on the development of BioLineRx’s multiple myeloma drug, motixafortide. This strategic partnership grants Gloria exclusive rights to develop motixafortide across all indications throughout Asia.
As part of the agreement, Gloria is making an upfront payment of USD 15 million and is investing USD 14.6 million in equity in BioLineRx. Additionally, Gloria has committed to potential milestone payments totaling up to USD 50 million for regulatory achievements and USD 200 million for commercial milestones, bringing the total deal value to USD 279.6 million.
Motixafortide, marketed under the brand name Aphexda, is an innovative CXC4 inhibitor that received approval from the US FDA in September 2023. It is indicated for use in combination with filgrastim (granulocyte colony-stimulating factor; G-CSF) to mobilize stem cells in multiple myeloma patients preparing for stem cell transplantation. The drug is also under development as a treatment for pancreatic cancer.
This licensing deal represents a significant cash infusion for BioLineRx, which will aid in the launch of Aphexda in the United States, enhancing the company’s financial position and expanding its market presence.-Fineline Info & Tech
