BioLineRx Enters Co-Development Agreement with GenFleet to Further Develop Motixafortide in Pancreatic Ductal Adenocarcinoma (PDAC), Advised by MSQ Ventures

NEW YORK,June 29,2022 -- M.S.Q. Ventures ("MSQ") is pleased to announce that its client,BioLineRx Ltd.("BioLineRx") (NASDAQ/TASE: BLRX),has successfully entered into a co-development agreement with GenFleet Therapeutics,Inc.,an immuno-oncology focused biopharmaceutical company based in Shanghai,China,for the development of Motixafortide in pancreatic ductal adenocarcinoma ("PDAC").

Under the terms of the agreement,GenFleet will design and execute a randomized Phase 2b clinical trial that will enroll approximately 200 first-line metastatic PDAC patients in China. This randomized controlled study will aim to evaluate the superiority of Motixafortide in combination with an anti-PD-1 and chemotherapy compared to chemotherapy alone,the current standard of care.

"This collaboration is based on the highly encouraging results from our Phase 2a COMBAT/KEYNOTE-202 study of Motixafortide in combination with an anti-PD-1 and chemotherapy,which provide strong support for continued development in this very challenging disease. With its broad solid tumor oncology pipeline and highly experienced development team,we believe we have found an outstanding partner in GenFleet to execute a rigorously designed randomized Phase 2b trial," said Philip Serlin,CEO of BioLineRx."The MSQ team helped to navigate through the complexity of cross-border transactions and secured this transaction by deploying their deep knowledge of the global market. We are highly impressed with MSQ's "thinking outside the box" approach and their expertise in deal structuring and negotiation."

"The results of the COMBAT/KEYNOTE-202 Phase 2a study demonstrate the benefit of combining the CXCR4 inhibitor Motixafortide with an anti-PD-1 and chemotherapy in a second-line setting," said Qiang Lu,Chairman of GenFleet. "We believe that this combination could be beneficial to patients in a first-line setting as well,and we hope to confirm this in a randomized trial. We are thrilled to be partners with BioLineRx in the development of this late-stage clinical asset,and look forward to initiating this important trial as quickly as possible. Throughout this journey,MSQ team has demonstrated professionalism and dedication in helping both of our teams to reach the finish line in a timely fashion."

Echo Hindle-Yang,CEO of MSQ,reflects on the transaction,"This collaboration demonstrates another excellent example of global co-development,which leverages each company's regional expertise to accelerate the development of new treatments. We are excited to see the alliance between BioLineRx and Genfleet to pursue the treatment of PDAC,which has proven to be incredibly challenging. I am impressed by Phil's commitment to developing Motixafortide in PDAC which is also shared by GenFleet's Dr. Lu. With such a strong commitment from each team,we believe that patients will benefit from this collaboration. We are honored to move forward with this cross-border partnership,and help achieve future success.

About MSQ

M.S.Q. Ventures is aNew York-basedcross-border advisoryfirm that bridges thehealthcareindustries globally by offering our deep knowledge,strong network,and local insights into theChinamarket.

info@msqventures.com