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6-K
BIOLINERX LTD. filed this Form 6-K on 11/21/2017
Entire Document
 

BioLineRx Ltd.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(UNAUDITED)

NOTE 5 – SHAREHOLDERS’ EQUITY
 
As of December 31, 2016 and September 30, 2017, share capital is composed of ordinary shares, as follows:

   
Number of ordinary shares
 
   
December 31,
   
September 30,
 
   
2016
   
2017
 
             
Authorized share capital
   
150,000,000
     
250,000,000
 
                 
Issued and paid-up share capital
   
57,033,355
     
104,115,833
 
 
   
In USD and NIS
 
   
December 31,
   
September 30,
 
   
2016
   
2017
 
             
Authorized share capital (in NIS)
   
15,000,000
     
25,000,000
 
                 
Issued and paid-up share capital (in NIS)
   
5,703,336
     
10,411,583
 
                 
Issued and paid-up share capital (in USD)
   
1,513,294
     
2,809,076
 

NOTE 6 – LONG-TERM INVESTMENT
 
The long-term investment represents the Company’s $1.0 million investment, completed in September 2017, in iPharma (H.K.) Limited (“iPharma”), a joint venture with I-Bridge Capital, a Chinese venture capital fund focused on developing innovative therapies in China. iPharma is focusing on the development of innovative clinical and pre-clinical therapeutic candidates to serve the Chinese and global healthcare markets. iPharma expects to raise the funds needed to develop its pipeline primarily from third-party investors.

NOTE 7 – AGALIMMUNE ACQUISITION
 
In March 2017, the Company acquired substantially all the outstanding shares of Agalimmune Ltd. for initial consideration of approximately $6.0 million, of which $3.0 million was in cash and the remainder in the Company’s ADSs. The acquisition expanded the Company’s pipeline to include Agalimmune’s primary asset, AGI-134, a novel immuno-oncology agent for various cancer indications at the near-clinical stage of development. Due in part to the early stage of development of AGI-134 and other elements evaluated by the Company’s management as required by IFRS, the acquisition has been accounted for in the Company’s financial statements as an asset transaction. Total costs associated with bringing the asset into the Company’s pipeline include additional expenses of approximately $0.7 million, resulting in a total increase in intangibles reflected in the Company’s financial statements of approximately $6.7 million as of September 30, 2017.

Additional consideration may be due to Agalimmune shareholders based on certain development and commercial milestones, including future sales of Agalimmune products.
 

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