BioLineRx licenses hematological cancer drug candidate
JERUSALEM—BioLineRx Ltd. has announced the signing of an exclusive worldwide license agreement with Biokine Therapeutics Ltd., a Clal Biotechnology Industries portfolio company. The agreement covers the development and commercialization of BL-8040 (previously BKT-140), a Phase II-ready drug candidate indicated for the treatment of acute myeloid leukemia and other types of hematological cancer. While the agreement does not include an upfront payment, BioLineRx will pay a monthly development fee of $50,000 to $100,000 for certain development services that Biokine will provide under the agreement. Biokine is eligible for a milestone payment of $250,000 if the clinical development plan is completed within agreed-upon deadlines. In the event of a sublicensing transaction to a third party, Biokine is also eligible for a royalty payment on a sliding scale.