NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in BioLineRx Ltd. (“BioLineRx” or the “Company”) BLRX. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether BioLineRx and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On September 15, 2022, BioLine announced it had entered into a loan agreement with Kreos Capital VII Aggregator SCSP (“Kreos”) under which Kreos “will provide the Company with access to term loans totaling up to $40 million.” Then, on September 19, 2022, BioLine announced it had entered into definitive agreements with several institutional investors to issue and sell 13,636,365 American Depositary Shares (“ADSs”) and warrants to purchase up to 13,636,365 ADSs for an aggregate purchase price of $1.10 per ADS known and associated warrant. BioLine stated that the gross proceeds from the offering, which is expected to be $15 million, will be used to facilitate the commercial launch of the company’s product Motixafortide.

As a result of this news, BioLine’s stock price fell $0.52 per share, or 33.77%, to close at $1.02 per share on September 20, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See