BioLineRx has signed a purchase agreement for the sale, from time to time, of up to $15M of its American Depositary Shares with Lincoln Park Capital Fund, a Chicago-based institutional investor. During the 36-month term of the purchase agreement, BioLineRx controls the timing and amount of any sales to LPC, if and when the company decides, in accordance with the purchase agreement. LPC has no right to require the company to sell any ADSs to LPC, but LPC is obligated to make purchases as BioLineRx directs, subject to certain conditions. The agreement may be terminated by the company at any time, at its sole discretion, without any cost or penalty.
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