Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

BioLineRx Ltd. (BLRX) Receives Extended Patent Protection On BL-1020

|Includes: BioLineRx Ltd. (BLRX)

BioLineRx is a biopharmaceutical development company focused on building a portfolio of products for unmet medical needs or with advantages over currently available therapies. The company's current portfolio consists of six clinical stage candidates: BL-1020 a first-in-class orally available treatment for schizophrenia, BL-8040 for treating acute myeloid leukemia, BL-7040 for treating inflammatory bowel disease, BL-1021 for neuropathic pain, BL-5010 for non-surgical removal of skin lesions, and BL-1040 for prevention of pathological cardiac remodeling following a heart attack.

The company announced today that a Notice of Allowance has been received from the United States Patent and Trademark Office claiming the crystalline form of its lead product, BL-1020. The patent, when granted, will be valid until at least 2031, without taking into account any possible extension periods, and is nine years longer than the granted patent coverage previously reported by BioLineRx. There are also patent applications pending in Europe, Japan, China, India, Australia, Brazil, Mexico, Canada, and Israel.

Right now, around 1 percent of the world's population suffers from schizophrenia, most of whom suffer cognitive impairment which may affect daily functioning. Currently available schizophrenia therapies do not address this need. However, BL-1020 has shown to significantly improve cognitive function in schizophrenia patients. BioLineRx is currently conducting the Phase II/III CLARITY trial with the drug's cognition enhancement as its primary objective. Results of the trial are expected sometime in the second half of 2013.

The company is pleased with the extended patent protection for its lead drug candidate, especially in the light of recent failures by larger pharmaceutical companies during late-stage clinical trials of schizophrenia drugs. In addition, many other pharmaceutical firms have reduced their operations surrounding schizophrenia therapies due to loss of patent protection.

For additional information about BioLineRX, BL-1020, and the company's other drug candidates, please visit www.biolinerx.com

Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html