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