BioLineRx Announces Presentation of Pre-Clinical Data Demonstrating that BL-2030 Reduces Tumor Growth and Prevents Metastasis in Model of Prostate Cancer
"These data support our view that BL-2030 has the potential to be a valuable treatment for prostate cancer, as well as other CCL2 implicated cancers and autoimmune diseases. We look forward to the initiation of the clinical trial program for this compound in 2008," stated Morris C. Laster, MD, chief executive officer of BioLineRx. "Our leading therapeutic candidates are BL-1020 for the treatment of schizophrenia, currently completing a Phase IIa clinical study, and BL-1040, for the treatment of acute myocardial infarction, scheduled to begin clinical trials in early 2008. We expect that in addition to BL-2030, BL-1021 for the treatment of pain and BL-4010 for solid tumors will enter clinical trials next year, expanding our clinical pipeline to a total of five therapeutic candidates during 2008."
BL-2030 is a fragment of the CCR2 receptor (chemokine receptor 2). This receptor and its ligand, CCL2 (chemokine ligand 2), are highly expressed in prostate tumors and were found to be correlated with the tumor's stage. In addition, CCL2 is implicated in many solid tumors and autoimmune diseases and may be applicable to a wide range of indications. The Company believes that the tumor growth inhibition observed in pre-clinical studies is due to a specific binding of BL-2030 to CCL2. By inhibiting CCL2's activity, BL-2030 impairs the recruitment of cells and factors that promote tumor development, resulting in inhibition of tumor progression and metastasis. Due to this highly targeted mechanism, BL-2030 is expected to inhibit tumor growth with lower side effects than currently available treatments. In addition, the Company believes that BL-2030 could complement existing hormonal and cytotoxic therapies currently employed for advanced prostate cancer.
BL-2030 was in-licensed from BioRap Technologies, a private company established to manage the commercialization of intellectual property developed by members of the Rappaport Family Institute for Research in the Medical Sciences at the Technion, Israel. BL-2030 was invented by Prof. Nathan Karin, from the Faculty of Medicine at the Technion, Israel.
About Prostate Cancer
Prostate cancer is the most common type of cancer among men and the second leading cause of cancer-related male mortality in the United States. In 2005, 232,000 Americans were diagnosed with prostate cancer, and 33,000 patients died as a result of prostate cancer. Current therapy for advanced stage prostate cancer remains a challenge. For hormone-responsive advanced stage prostate cancer, hormonal-based therapies are effective for a period of 2-3 years, but nearly all patients relapse.
BioLineRx, a clinical stage drug development company traded on the Tel Aviv Stock Exchange (TASE:BLRX), is dedicated to building a robust pipeline of promising therapeutics for unmet medical needs. The Company's leading programs are BL-1020, currently in Phase II testing, for the treatment of schizophrenia, and BL-1040, currently undergoing regulatory review in anticipation of initiation of clinical trials, for the treatment of damaged heart tissue post-myocardial infarction. Additional products under development include compounds for the treatment of cancer and CNS, cardiovascular, metabolic, infectious and autoimmune diseases.
BioLineRx advances projects from early stage discovery and lead generation to advanced clinical trials. BioLineRx partners with researchers, universities and biotech companies to further the development of promising compounds. The Company was founded in 2003 by leaders in the Israeli life science arena including Teva Pharmaceuticals Ltd., venture capital firms Giza Venture Capital and Pitango Venture Capital, and Hadasit, the technology transfer company of Hadassah Hospital and the Jerusalem Development Authority. For more information, please visit www.biolinerx.com.
This press release contains "forward-looking statements" that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms including "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would," "hope," and similar expressions intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. You should not put undue reliance on any forward-looking statements. Unless we are required to do so under applicable laws, we do not intend to update or revise any forward-looking statements.
Yuri Shoshan, +972-2-548-9100
VP Finance and Corporate Development
Tsipi Haitovsky, +972-52-598-9892
Stern Investor Relations, Inc.
Melanie Friedman, 212-362-1200
Posted: December 2007