Israeli Firm Licenses Drugs for Cancer, Cholesterol

BioLineRx, an Israel-based drug-development company, announced it has signed license agreements to develop and commercialize two new therapeutic candidates. These mark the third and fourth licensing agreements signed by BioLineRx since February, bringing the total number of drugs under development to 14.

BioLineRx licensed the worldwide rights to the drugs from Yeda Research and Development. Financial terms of the agreements were not disclosed. BioLineRx plans to develop the drugs through BioLine Innovations Jerusalem under the national biotech grant it received in November 2004.

BL-3040 represents a new class of selective estrogen receptor modulators. Osteoporosis has been shown to be related to a reduction in the level of estrogens, according to BioLineRx. Additionally, estrogen is involved in the progression of breast cancer, ovarian cancer and uterine and endometrial malignancies.

BL-3050 is a complex of an improved form of the anti-atherogenic enzyme Paraxonase 1 and its carrier of HDL cholesterol. The drug has been shown to prevent LDL oxidation, according to the company.

"We are sure that our collaboration with BioLineRx in connection with these drug candidates will be a model for successful technology transfer between academia and industry," Amir Naiberg, CEO of Yeda, said.