News

Ikaria and BioLineRx sign crucial agreement on BioLineRx's BL-1040

Clinton, New Jersey, Jerusalem
Jul 6, 2009

Ikaria Holdings and BioLineRx Ltd. entered an agreement enabling the former with an exclusive worldwide license of BioLineRx's BL-1040. BL-1040, currently in phase I/II clinical trial, is administered via the coronary artery during standard catheterisation and flows into the damaged heart muscle. It forms a protective "scaffold" that enhances the mechanical strength of the heart muscle during recovery and repair.

Under the agreement, BioLineRx will receive upfront and milestone payments along side royalties on annual net sales while Ikaria will be responsible for completing clinical development and commercialisation efforts.

Speaking on the occasion Daniel Tasse, President and CEO, Ikaria said, "The acquisition of the rights to BL-1040 reinforces our commitment to deliver novel treatments to critically ill patients around the world".