BioLineRx (BLRX) Appoints New CEO

August 11, 2016 6:47 AM EDT

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BioLineRx Ltd. (Nasdaq: BLRX) announced today that Philip A. Serlin has been named Chief Executive Officer of BioLineRx, effective October 10, 2016.

Mr. Serlin joined the Company in 2009 as its Chief Financial and Operating Officer. He succeeds Kinneret Savitsky, Ph.D., who joined the Company in 2004, and has served as its Chief Executive Officer since 2010. Dr. Savitsky will serve as scientific advisor to the Company through the end of March 2017.

"On behalf of the Board, I would like to thank Kinneret Savitsky for her outstanding leadership and many contributions to the Company. We wish her continued success as she pursues her new endeavors," stated Aharon Schwartz, Ph.D., Chairman of the Board of BioLineRx. "We are pleased to name Philip Serlin as our new CEO. Phil is an experienced BioLineRx executive, complementing the Company's drug development expertise with strategic thinking, as well as business and financial leadership. The Board looks forward to working with Phil to create value for the Company and its shareholders."

Prior to joining BioLineRx, Mr. Serlin served as the Chief Financial and Operating Officer of Kayote Networks Ltd. Before that, he served as the Chief Financial Officer of Tescom Software Systems Testing Ltd., an IT services company publicly traded in both Tel Aviv and London. His background also includes senior positions at Chiaro Networks Ltd. and at Deloitte, where he was head of the SEC and U.S. Accounting Department at the National Office in Tel Aviv, as well as seven years at the SEC at its Washington, D.C., headquarters. Mr. Serlin currently serves as a Director at Vascular Biogenics Ltd. (NASDAQ: VBLT). Mr. Serlin is a CPA and holds a B.Sc. in Accounting from Yeshiva University and a Master's degree in Economics and Public Policy from The George Washington University.

BioLineRx also appoints Mali Zeevi, CPA, as Chief Financial Officer, effective October 10, 2016. Ms. Zeevi joined BioLineRx in 2009 as its Director of Finance and Reporting and has served as its Senior Director of Finance and Reporting since 2011. Before joining BioLineRx, Ms. Zeevi was employed by Tescom Software Systems Testing Ltd., her last position there being Vice President Finance. Ms. Zeevi also served as a CPA at Kesselman & Kesselman, a member firm of PricewaterhouseCoopers International Limited. She holds a B.A. in business and accountancy from the College of Management Academic Studies in Israel.

The Board of BioLineRx expects to complete a seamless transition in the coming weeks.

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