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BioLineRx Presents Phase I Clinical Data of BL-1020 at Upcoming,Clinical Conferences

JERUSALEM--(BUSINESS WIRE)--May 17, 2007 - BioLineRx Ltd. (TASE: BLRX), Israel's leading drug development company, announced today that abstracts containing data from its successfully completed phase I clinical trails of BL-1020, first in class GABA-enhanced antipsychotic for the treatment of schizophrenia, have been accepted for poster presentations at three leading scientific conferences. The data will be presented at the following conferences:

-- Society of Biological Psychiatry Annual Convention, May 17-19 (San Diego)

-- American Psychiatric Association Annual Meeting, May 19-24 (San Diego)

-- New Clinical Drug Evaluation Unit Annual (NCDEU) Meeting, June 11-14 (Boca Raton)

The abstract which has been selected for these poster presentations describes the results of a Phase I, randomized, placebo-controlled double blinded, single dose-escalation study to evaluate the safety and determine the pharmacokinetic profile of BL-1020, first in class GABA-enhanced antipsychotic for the treatment of schizophrenia.

"We are very pleased that these important data regarding the Phase I trials of BL-1020 are being presented at these three major psychiatric conferences. The Phase I studies support our product profile of a highly efficacious antipsychotic devoid of extrapyramidal symptoms or metabolic side effects," commented Morris Laster, chief executive officer of BioLineRx. "We continue to believe that the compound holds great promise for the treatment of schizophrenia, which currently poses an intractable medical problem for physicians and patients. We very much look forward to the initiation of the Phase II trial in the second quarter of 2007."

About BL-1020

BL-1020 is an orally available GABA enhanced antipsychotic clinical candidate for the treatment of schizophrenia. Data from preclinical and phase I studies demonstrated that the compound may retain the efficacy of currently available typical and atypical antipsychotic drugs while achieving a much higher safety profile as evidenced by a lack of metabolic or extrapyramidal side effects.

BL-1020 is being developed by BioLineRx, Ltd. under a worldwide exclusive license from Ramot at Tel Aviv University Ltd. and Bar-Ilan Research and Development Company Ltd., the technology transfer arms of Tel Aviv University and Bar-Ilan University respectively. BL-1020 was discovered by Professor Abraham Nudelman from the Department of Chemistry, Bar-Ilan University; and Ada Rephaeli, Ph.D., Professor Abraham Weizman, MD, and Irit Gil-Ad, Ph.D. from the Sackler Faculty of Medicine, Tel Aviv University.

About BioLineRx

BioLineRx, a clinical stage drug development company traded on the Tel Aviv Stock Exchange (TASE: BLRX), is dedicated to building a robust pipeline of promising therapeutics for unmet medical needs. The Company's leading programs are for schizophrenia and treatment of damaged heart tissue post-myocardial infarction. Additional products under development include compounds for the treatment of cancer and CNS, cardiovascular, metabolic, infectious and autoimmune diseases.

BioLineRx advances projects from early stage discovery and lead generation to advanced clinical trials, regulatory approval and marketing. Partnering with researchers, universities and biotech companies to further the commercialization of promising compounds, BioLineRx seeks to enrich the pipeline of large pharmaceutical companies seeking their next blockbuster drugs. The Company was founded in 2003 by leaders in the Israeli life science arena including Teva Pharmaceuticals Ltd, Giza, Pitango, Hadasit and the Jerusalem Development Authority. For more information, please visit www.biolinerx.com.

This press release contains "forward-looking statements." These statements include words like "may," "expects," "believes," "scheduled" and "intends," and describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Contact

BioLineRx Ltd.
VP Finance and Corporate Development
Yuri Shoshan, +972-2-548-9100
yuri@biolinerx.com
Tsipi Haitovsky, +972-52-598-9892
Media Liaison
tsipih@biolinerx.com
or
Stern Investor Relations, Inc.
Melanie Friedman, 212-362-1200
melanie@sternir.com


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