Philip Serlin on strategic collaboration
From BioLineRx Ltd. (NASDAQ/TASE: BLRX) | Stock News Now · · Planet MicroCap
“We signed a deal with Novartis Pharma about two years ago — they invested ten million dollars and now own about 10% of our company, and they will fund approximately 75% of our development costs.”
On , Philip Serlin, CEO at BioLineRx, spoke about strategic collaboration during BioLineRx Ltd. (NASDAQ/TASE: BLRX) | Stock News Now on Planet MicroCap.
About Philip Serlin
In a December 2016 interview, Philip Serlin, CEO of BioLineRx, discussed the company's business model and recent developments. He stated that BioLineRx, founded twelve years ago and based in Tel Aviv, focuses on in-licensing and developing therapeutic candidates from Israeli academic institutions and startups, primarily in oncology and immunology. Serlin noted that the company had brought 45 molecules into its pipeline over its history. Serlin highlighted a strategic collaboration with Novartis Pharma, signed about two years prior, in which Novartis invested $10 million and became the company's largest shareholder, owning approximately 10%. He said Novartis would fund about 75% of development costs under the agreement. Serlin also noted that BioLineRx went public on the Tel Aviv Stock Exchange in 2007 in what he described as the largest biotech IPO on that exchange, raising $50 million, and listed on NASDAQ in 2011, with about 70% of its investor base being US-based.