Ikaria® to In-License BioLineRx`s BL-1040

CLINTON, N.J. & JERUSALEM--(Business Wire)--
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 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
Tassé, 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 (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.

Ikaria
Samina Bari, 908-238-6372
Samina.bari@ikaria.com
or
BioLineRx
Dganit Bar, 972-2-5489100
dganitb@biolinerx.com

Copyright Business Wire 2009