Bioline RX Ltd (NASDAQ:BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, announced today that it has signed a framework collaboration agreement with MaRS Innovation, the commercialization agent for fifteen of Toronto’s top academic institutions. Under the terms of the agreement, BioLineRx intends to review innovative projects and assets of startup companies originating from MaRS Innovation’s members, in order to identify in-licensing, co-development or other partnering opportunities.
Kinneret Savitsky, Ph.D., CEO of BioLineRx, said, “We are pleased to collaborate with MaRS Innovation, one of the largest technology transfer organizations in North America. MaRS Innovation represents and invests in early stage assets derived from 15 institutions inOntario, Canada, including the University of Toronto and its 9 affiliated teaching hospitals. We view them as a valuable source of potential innovative technologies and look forward to working together towards the development of future therapies.”
“BioLineRx has a proven track record of identifying promising early stage biomedical projects and successfully developing them through clinical stages,” stated Dr. Raphael Hofstein, President and CEO, MaRS Innovation. “We believe that the combination of our pool of novel technologies and projects together with BioLineRx’s drug development expertise and strategic collaborations with global players is a perfect match.” (Original Source)
Shares of Biolinerx closed last Friday at $0.92, down $0.01 or -0.95%. BLRX has a 1-year high of $2.80 and a 1-year low of $0.85. The stock’s 50-day moving average is $0.98 and its 200-day moving average is $1.13.
On the ratings front, Biolinerx has been the subject of a number of recent research reports. In a report issued on April 5, Maxim Group analyst Jason Kolbert reiterated a Buy rating on BLRX, with a price target of $4, which represents a potential upside of 334.3% from where the stock is currently trading. Separately, on March 29, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Joseph Pantginis have a total average return of -15.8% and -4.4% respectively. Kolbert has a success rate of 28.0% and is ranked #3831 out of 3833 analysts, while Pantginis has a success rate of 35.0% and is ranked #3712.
BioLineRx Ltd. engages in the pharmaceutical industry. It develops pre-clinical and clinical stage therapeutics with specialization in skin lesions, acute myocardial infarction, acute myeloid leukemia and hematological cancers, inflammatory bowel disease, hepatitis C, celiac disease, schizophrenia, diabetes, allergies, and asthma. The firm offers in-licensing and out-licensing partnerships with researchers, universities, and companies. The company was founded in April 2003 and is headquartered in Modi’in, Israel.