Ikaria has entered into an agreement to obtain a worldwide exclusive license to BioLineRx’s BL-1040. Its a potential treatment for preventing pathological cardiac remodeling, following acute myocardial infarction (AMI).
BL-1040, currently in a phase I/II clinical trial, is administered via the coronary artery during standard catheterization and flows into the damaged heart muscle. There it forms a protective scaffold that enhances the mechanical strength of the heart muscle during recovery and repair.
Under the terms of the agreement, BioLineRx will receive upfront and milestone payments. BioLineRx will also receive royalties on annual net sales. Ikaria will be responsible for completing clinical development and commercialization efforts. The deal is contingent upon receipt of the approval of Israeli Office of the Chief Scientist.
Morris Laster, CEO of BioLineRx, said: “This agreement is consistent with our business model of developing early-stage programs through human Proof of Concept trials and ultimately partnering with a global therapeutics company that has the expertise and resources to complete development and commercialization. Ikaria’s deep and singular focus on therapies for patients in acute care settings makes it an ideal party to further develop and bring BL-1040 to the global market.”