CLINTON, N.J. and JERUSALEM, July 6 /PRNewswire/ -- Ikaria Holdings, Inc. and
BioLineRx Ltd. (TASE: BLRX) today announced that Ikaria has entered into an
agreement to obtain a worldwide exclusive license to BioLineRx's BL-1040, a
potential breakthrough treatment for preventing pathological cardiac
remodeling following acute myocardial infarction (AMI).
BL-1040, currently in a phase I/II clinical trial, is administered via the
coronary artery during standard catheterization and flows into the damaged
heart muscle, where it forms a protective "scaffold" that enhances the
mechanical strength of the heart muscle during recovery and repair. BL-1040 is
the first program to graduate from the BIJ (BioLine Innovations Jerusalem)
incubator subsidized by the Israeli Office of the Chief Scientist.
Under the terms of the agreement, BioLineRx will receive upfront and milestone
payments. BioLineRx will also receive royalties on annual net sales. Ikaria
will be responsible for completing clinical development and commercialization
efforts. The deal is contingent upon receipt of the approval of the Israeli
Office of the Chief Scientist.
"The acquisition of the rights to BL-1040 reinforces our commitment to deliver
novel treatments to critically ill patients around the world," commented
Daniel Tasse, President and CEO of Ikaria. "Millions of patients suffer from
MI each year, and BL-1040 represents the potential of an exciting solution to
the problem of ventricular remodeling following AMI, for which the unmet need
remains very high."
"This agreement is consistent with our business model of developing
early-stage programs through human Proof of Concept trials and ultimately
partnering with a global therapeutics company that has the expertise and
resources to complete development and commercialization," said Morris C.
Laster, M.D., CEO of BioLineRx. "Ikaria's deep and singular focus on therapies
for patients in acute care settings makes it an ideal party to further develop
and bring BL-1040 to the global market."
About BL-1040
BL-1040 was invented by Professor Smadar Cohen from Ben-Gurion University and
Professor Jonathan Leor from Tel-Aviv University. BioLineRx in-licensed the
technology in 2005 from Ben-Gurion University through B.G. Negev Technologies
and Applications Ltd. BL-1040 is currently in a Phase I/II pilot study in
Germany and Belgium to determine the safety and feasibility of BL-1040 to
treat AMI. Final results are anticipated in Q4 2009.
About Ikaria Holdings, Inc.
Ikaria Holdings, Inc. is a biotherapeutics company whose acute care products
and therapies address the significant unmet needs of critically ill patients.
The company's lead product, INOmax(R) (nitric oxide) for inhalation, is the
only FDA-approved drug for the treatment of hypoxic respiratory failure in
term and near-term newborns, and also is marketed in Canada, Europe, Latin
America and Australia. INOmax is approved for marketing in Japan and Mexico.
Ikaria is engaged in new and ongoing clinical development of INOmax, carbon
monoxide for inhalation and hydrogen sulfide. Ikaria also acquired the North
American rights to terlipressin, which currently is under review by the FDA
for the treatment of hepatorenal syndrome Type 1. Ikaria is headquartered in
Clinton, NJ, with research facilities in Seattle, WA and Madison, WI, and a
manufacturing facility in Port Allen, LA. For more information, please visit
www.ikaria.com.
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 for the treatment of schizophrenia and BL-1040 for the treatment
of damaged heart tissue post-acute myocardial infarction.
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.
SOURCE Ikaria Holdings Inc.
Samina Bari of Ikaria, +1-908-238-6372, Samina.bari@ikaria.com; or Dganit Bar
of BioLineRx, +972-2-5489100, dganitb@biolinerx.com
