BioLineRx (NASDAQ:BLRX; TASE:BLRX) and Ayrmid, the parent company of Gamida Cell, announced they have entered into a licensing agreement for motixafortide, commercially marketed in the U.S. as BioLineRx’s APHEXDA.
The FDA-approved APHEXDA is a stem-cell mobilization agent indicated for use in combination with filgrastim to facilitate the collection and subsequent autologous transplantation in patients with multiple myeloma.
Under the terms of the agreement, BioLineRx will receive a $10 million upfront payment and is eligible for up to $87 million in additional commercial milestone payments, along with royalties ranging from 18% to 23% on net sales of APHEXDA.
“Since APHEXDA’s launch last year, patients and transplant centers continue to see the tremendous benefits it can provide, and I could not be prouder of our commercial organization that has proven its value,” said Philip Serlin, CEO of BioLineRx.
“Our agreement with Ayrmid, and their vision of creating a strong commercial transplant portfolio, makes them the ideal partner to realize APHEXDA’s full commercial potential. BioLineRx will now leverage its proven expertise in drug development, with a continued focus on oncology and rare diseases. This new path forward aligns with our core strengths and allows us the opportunity to create enduring value for all stakeholders,” Mr. Serlin added.
Dr. Joe Wiley, CEO of Ayrmid, commented, “APHEXDA represents a significant advancement in improving the lives of multiple myeloma patients as they progress along the stem cell transplant journey. APHEXDA complements our existing portfolio by supporting OMISIRGE’s growth, doubling our transplant portfolio, and enhancing the capabilities Gamida Cell has already established in cell therapy. Our growing momentum positions us well for continued expansion in the U.S. and beyond, marking a key step in our journey as we continue to build on our success, strengthen our commitment to the transplant community, and execute our long-term strategy.”
