BioLineRx: From ridiculous to the sublime
Many regions have more biotech companies and projects than can be funded by the local venture community. BioLineRx Ltd. was founded to find the nuggets in the crowded Israeli biotech landscape and advance them through Phase II trials for subsequent out-licensing.
"In Israel, we have more than 200 biotech companies, and that is a ridiculous number for such a small country," CEO Morris Laster told BioCentury. "It's a lot of duplication of work, and it is clear that they won't be able to reach critical mass. On the other hand, 35% of the funding that goes to Israeli university research is earmarked for the life sciences, and the currently marketed innovative drugs of Israeli origin account for more than $1.8 billion in worldwide annual sales, so there clearly is scientific and commercial potential here."...