BioLineRx Concludes License Deal With Guangzhou Gloria To Develop Motixafortide In Asia

(RTTNews) - BioLineRx Ltd. (BLRX) Thursday said the license agreement with Guangzhou Gloria Biosciences Co., Ltd. and an associated investor to develop Motixafortide across all indications in Asia has been concluded.

In September this year, the FDA approved Motixafortide for stem cell mobilization (SCM) in autologous stem cell transplantation (ASCT) in patients with multiple myeloma.

As per the deal, GloriaBio will be responsible for development and commercialization of motixafortide in Asia initially in SCM. GloriaBio is expected to initiate a bridging study to support potential approval of Motixafortide in the licensed territories in SCM for ASCT in patients with multiple myeloma.

The company also plans to begin Phase a 2/3 study to evaluate motixafortide in combination with zimberelimab and standard of care chemotherapy for the first-line treatment of pancreatic cancer.

The deal included an upfront payment of $15 million, up to $50 million in milestone payments, up to $200 million on achieving certain sales targets, and tiered double-digit royalties on sales. The transaction also included an equity investment of $14.6 million in BioLineRx.