JERUSALEM, Sept. 22, 2011 /PRNewswire/ -- BioLineRx Ltd. (NASDAQ : BLRX ) (TASE: BLRX), a biopharmaceutical development company, today announced that it has retained KCSA Strategic Communications, a leading New York-based communications firm, to direct the Company's investor relations program.
KCSA intends to deploy a comprehensive investor relations communication campaign designed to increase awareness of BioLineRx among the U.S. investment community. Since KCSA's inception over forty years ago, the firm has developed a strong reputation for its work representing both domestic and international public companies. Todd Fromer, Managing Partner of KCSA, will lead the KCSA team and provide strategic counsel on financial communication matters.
"I am excited to begin working with KCSA in order to create greater awareness of BioLineRx in the U.S. investment community. We have several exciting products in our pipeline that are in advanced stage clinical trials, providing us with significant short-term and long-term opportunities to grow our business. With KCSA's proactive communications program, we hope to highlight the ongoing development of these products to our shareholders and potential value of these products upon receiving regulatory market clearance," said Dr. Kinneret Savitsky, BioLineRx's Chief Executive Officer.
Mr. Fromer stated, "Since listing its ADRs on the NASDAQ in July, BioLineRx has had little exposure to the U.S. investment community. As such, we believe there is a tremendous opportunity for us to broaden awareness among investors and highlight the opportunity BioLineRx and its products provide. As part of our program, we will work with the BioLineRx management team to effectively and regularly communicate with its U.S. investor base."
In July 2011, BioLineRx listed its shares on the NASDAQ Capital Market, through ADRs. Each BioLineRx ADR represents 10 ordinary shares and trades on NASDAQ under the symbol "BLRX."
BioLineRx Ltd. is a publicly-traded biopharmaceutical development company. BioLineRx is dedicated to building a portfolio of products for unmet medical needs or with advantages over currently available therapies. BioLineRx's current portfolio consists of five clinical stage candidates: BL-1020 for schizophrenia is in Phase II/III clinical trials; BL-1040 for treatment of patients following a myocardial infarction has completed a Phase I/II study and has been out-licensed to Ikaria Inc. for a total deal value of $282.5 million, in addition to sales royalties; BL-5010 for non-surgical removal of skin lesions has completed a Phase I/II study; BL-1021 for neuropathic pain is in the final stages of a Phase I trial; and BL-7040 for treating Inflammatory Bowel Disease (IBD) has completed Phase I. In addition, BioLineRx has nine products in various pre-clinical development stages for a variety of indications, including central nervous system diseases, oncology, infectious diseases, cardiovascular and autoimmune diseases.
BioLineRx's business model is based on acquiring molecules mainly from biotechnological incubators and academic institutions. The Company performs feasibility assessment studies and development through pre-clinical and clinical stages, with partial funding from the Israeli Government's Office of the Chief Scientist (OCS). The final stage includes partnering with medium and large pharmaceutical companies for advanced clinical development (Phase III) and commercialization. For more information on BioLineRx, please visit www.biolinerx.com.
About KCSA Strategic Communications
KCSA is a fully integrated communications agency specializing in public relations, investor relations and marketing with expertise in financial and professional services, technology, healthcare, media, energy and public services companies. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm's clients are its best references. For more information, please visit www.kcsa.com.
SOURCE KCSA Strategic Communications; BioLineRx Ltd.