BioLineRx Announces Worldwide Licensing Agreementfor BL-9020 for Treatment of Type 1 Diabetes

BioLineRx

announced today that it has signed a worldwide, exclusive license agreement with Yissum Research Development Company of the Hebrew University of Jerusalem, B.G. Negev Technologies and Applications Ltd., and Hadasit Medical Research Services and Development Ltd. for BioLineRx to develop and commercialize BL-9020, for the treatment of Type 1 diabetes. Promising results of preclinical studies in a mouse model of Type 1 diabetes demonstrated that BL-9020 is able to inhibit the onset of diabetes. Previously, the project was developed under BioLineRx's Early Development Program as EDP-10. BL-9020 is a novel antibody treatment for prevention of the development of Type 1 diabetes. It was developed to treat Type 1 diabetes in early stage patients, during what is known as the "honeymoon period." At this early stage of the disease, the insulin-producing pancreatic cells are not completely destroyed and continue to secrete insulin. Pre-clinical studies suggest that BL-9020 can preserve surviving cells, thus preventing full maturation of the disease. "Type 1 diabetes is a highly prevalent autoimmune disease affecting millions around the world. Currently there is no cure for the