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January 19, 2005 BioLineRx In-Licenses Novel Technology from Ben-Gurion University for the Treatment of Heart Attack Victims Company Adds Novel Treatment of Cardiac Tissue Damage to Diverse Drug Pipeline BioLineRx Ltd., Israel’s leading specialized drug development company, today announced that it has signed an in-license agreement for the development of BL-1040, an injectable scaffold that reduces cardiac damage after heart attack. The worldwide exclusive license agreement was signed with Ben-Gurion University through its business company BGN Technologies. BioLineRx plans to develop the project through BioLine Innovations Jerusalem and to submit the project for funding by the Israeli Office of the Chief Scientist under the National Biotech Grant that BioLineRx received in November of this year. BioLineRx anticipates an investment of approximately $9 Million in order to achieve clinical proof of safety and efficacy. According to University President Prof. Avishay Braverman, "The University sees its mission to use science and technology to bring employment – particularly in the hi-tech fields – to the periphery. We continue to be leaders in research and development despite the very serious cuts to our R&D budget.” The novel material, developed by Prof. Smadar Cohen and Prof. Jonathan Leor from the Department of Biotech and Biomedical Engineering at Ben-Gurion University in Beer Sheva is a biodegradable polymer that is injected directly into the area damaged by the heart attack. Within minutes, the material intercalates between the cells and fibers of the heart and rapidly forms a scaffold. This scaffold enhances the mechanical strength of the heart muscle during recovery and repair, reduces the size of the scar after the heart attack, and may stimulate the growth of new blood vessels and encourage cardiac regeneration. In experimental heart attack models, the polymer has been shown to improve outcome, resulting in reduced cardiac dysfunction and reduced mortality. "This agreement continues our commitment to building a strong diverse pipeline of novel treatments for unmet medical needs,” said Dr. Morris C. Laster, CEO of BioLineRx. “We believe this new technology developed by Ben-Gurion researchers represents a breakthrough for the treatment of patients that have undergone heart attacks by regenerating cardiac tissue,” Netta Cohen, CEO of BGN Technologies, added: “Ben-Gurion University prides itself on scientific research that holds the promise of commercialization. This agreement with BioLineRx brings us a step closer to realizing the great potential of this innovative research for saving lives." Cardiovascular disease is one of the leading causes of death in the western world. Each year over a million Americans and a larger number of people worldwide experience heart attack or heart failure. The projected market for treating new cases exceeds $1 billion in the United States alone.