BLRX - BioLineRx secures $40M debt financing from Kreos Capital

• BioLineRx ( NASDAQ: BLRX ) said it signed a $40M non-dilutive secured debt financing agreement with Kreos Capital.
• The first tranche of $10M was made available to BioLineRx upon execution of the agreement. The remaining $30M will be available in two additional tranches subject to  achieving certain milestones, the company said in a Sept. 15 press release.
• The tranches are available at BioLineRx's discretion till Oct. 1, 2024.
• BioLineRx plans to use the funds, plus cash on-hand, to support commercial launch of motixafortide, if approved.
• A day ago, the Israeli company had filed for U.S. approval of motixafortide in stem cell mobilization for autologous bone marrow transplantation for patients with multiple myeloma.
• As of June 30, BioLineRx had cash and cash equivalents of $43.2M.

For further details see: