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BioLineRx Presents Pre-Clinical Data Demonstrating That BL-1021 Is Safe and Effective in Treating Neuropathic Pain

JERUSALEM--(BUSINESS WIRE)--Jan 28, 2008 - BioLineRx Ltd. (TASE:BLRX), a clinical stage drug development company, today announced the presentation of data from pre-clinical trials of BL-1021 at the Isranalytica meeting 2008 held in Tel Aviv, Israel, on January 22-23, 2008. Recent pre-clinical trials demonstrated that BL-1021 was safe and effective in pre-clinical testing for the treatment of neuropathic pain.

"Based on the promising data presented here, we believe that BL-1021 has the potential to be a safe and effective drug for neuropathic pain, and 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. "During the course of the year, we expect to significantly expand our clinical pipeline to a total of five therapeutic candidates."

BL-1021 is an orally available small molecule for the treatment of neuropathic pain. In pre-clinical trials, BL-1021 showed a significant reduction in symptoms of neuropathic pain with reduced side effects. The molecule was given orally and in all cases was found to be superior to available treatments due to its increased efficacy and minimal side effects. Furthermore, the experiments demonstrated that BL-1021 demonstrated potent analgesia drug without noticeable side effects of sedation and cardiac arrhythmias, which often plague other anti pain compounds.

BL-1021 is being developed by BioLineRx, Ltd. under a worldwide exclusive license from Ramot at Tel Aviv University Ltd. and Bar-Ilan Research and Development Company Ltd., the technology transfer arms of Tel Aviv University and Bar-Ilan University respectively. BL-1020 was discovered by Professor Abraham Nudelman from the Department of Chemistry, Bar-Ilan University; and Ada Rephaeli, Ph.D., Professor Abraham Weizman, MD, and Irit Gil-Ad, Ph.D. from the Sackler Faculty of Medicine, Tel Aviv University.

About Neuropathic Pain

Neuropathic pain is caused by a primary lesion or dysfunction in the nervous system. It is associated with various conditions including shingles and diabetes and affects 15 million people in the US alone.

About BioLineRx

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 2 testing for the treatment of schizophrenia, and BL-1040, about to initiate 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.

Contact

BioLineRx Ltd.
Yuri Shoshan, +972-2-548-9100
VP Finance and Corporate Development
yuri@biolinerx.com
Tsipi Haitovsky, +972-52-598-9892
Media Liaison
tsipih@biolinerx.com
or
Stern Investor Relations, Inc.
Melanie Friedman, 212-362-1200
melanie@sternir.com

Posted: January 2008

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