) recently announced encouraging results from a phase IIa study
on BL-7040. BioLineRx is developing BL-7040 for the treatment of
inflammatory bowel disease (IBD). Results from the study revealed
that BL-7040 was safe and effective in the treatment of
ulcerative colitis which is a form of IBD.
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In the open-label, proof-of-concept phase II study, 8 patients
out of the 16 who completed the five-week course, with a two-week
follow-up, met the primary objective of a reduction in the Mayo
score between baseline and completion of treatment. The remaining
patients showed an even clinical condition or minor improvement.
In Jun 2011, BioLineRx entered into a licencing agreement with
Yissum Research Development Company of the Hebrew University of
Jerusalem Ltd. for BL-7040.
We note that companies like
) also have a presence in the IBD market. BioLineRx mentioned in
its press release that annual sales generated from existing drugs
for IBD were around $1.8 billion. BioLineRx further stated that 1
in every 500 people around the globe is suffering from IBD. In
the US alone there are approximately 1.4 million people suffering
We remind investors that the company suffered a pipeline setback
last month with disappointing interim results being reported from
the phase II/III CLARITY trial of BL-1020, being developed for
the treatment of schizophrenia.
However, BioLineRx is trying to recover from the pipeline setback
by advancing other candidates in its pipeline. The company
recently received approval in the US for the initiation of a
phase IIa study on BL-8040 for the treatment of acute myeloid
leukemia (AML) and other types of hematological cancers.
BioLineRx, a biopharmaceutical company, presently carries a Zacks
Rank #3 (Hold). Meanwhile, other biopharma companies like
) currently look better-positioned. UCB carries a Zacks Rank #1