NEW YORK, July 26, 2011 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected by BioLineRx Ltd. as the depositary bank for its American depositary receipt (ADR) program. Each BioLineRx ADR represents 10 ordinary shares and trades on the NASDAQ Capital Market under the symbol "BLRX." BioLineRx's ordinary shares trade on the Tel Aviv Stock Exchange under the symbol "BLRX."
BioLineRx is a biopharmaceutical development company dedicated to building a portfolio of products. BioLineRx's current portfolio consists of five clinical stage candidates for schizophrenia, treatment of patients following a myocardial infarction, non-surgical removal of skin lesions, neuropathic pain, and inflammatory bowel disease. BioLineRx also has nine products in various pre-clinical development stages for a variety of indications, including central nervous system diseases, oncology, infectious diseases, cardiovascular and autoimmune diseases. The company performs feasibility assessment studies and development through pre-clinical and clinical stages, with partial funding from the Israeli Government's Office of the Chief Scientist.
"Listing our ADR on NASDAQ is a landmark step in the development and growth of our company, as we look to expand our presence in the U.S.," said Dr. Kinneret Savitsky, chief executive officer of BioLineRx. "We are pleased to partner in this effort with BNY Mellon, the leader in depositary receipts. We believe its experience working with Israeli issuers and its breadth of services will ensure strong support for our listing as well as our shareholders."
"BioLineRx is the second Israeli bio-med company to create an ADR program this year and the first to list its ADR on a major U.S. exchange," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "Israel's bio and tech sectors continue to develop innovative new technologies and companies. We've been supporting Israeli companies' expansion in the global markets for nearly 25 years and will work closely with BioLineRx's team to make their listing a success."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com and through Twitter @bnymellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon