Exhibit 5.1
Dror Vigdor Amalia Meshi Amnon Lorch Hagai Shmueli Barry Levenfeld David H. Schapiro Hagit Bavly Orna Sasson Barak Tal Shiri Shaham Doron Tamir Daniel Abarbanel David Osborne Gil Oren Ronit Amir Orly Tsioni Mordehai Baicz Barak Platt Benjamin Horef Yoran Gill Asaf Eylon Daniel Marcovici Adrian Daniels Yuval Shalheveth Jacob Ben Chitrit Peter Sugarman Ben Sandler Boaz Fiel Joeri Kreisberg Simon Weintraub | Ruth Loven Yarom Romem Adam Spruch Yuval Bargil Eliran Furman Eran Lempert Ofir Levy
Daniel Green Hanital Belinson Yoheved Novogroder
Oren Roth
Dror Varsano Odelia Sidi Shira Lahat Ido Chitman Noa Afik Aner Hefetz David Akrish Nir Rosner Assaf Mesica Liron Hacohen Guy Fuhrer Ezra Gross David Roness Eli Greenbaum Lee Maor
Nimrod Vromen Guy Sagiv Micha Tollman Shani Rapoport Lior Gelbard | Michal Sagmon Hila Roth Keren Tal Neta Goshen Shachar Cohain Roy Masuri Eyal Yacoby
Daphna Livneh Tamar Gilboa Yael Hoefler Sagi Schiff Lilach Grimberg Adi Samuel Netanella Treistman Daniel Damboritz Shlomi Schneider Alona Toledano
Elad Offek Yuval Shamir Dana Heller Adi Tal
Yulia Lazbin Joshua Lieberman
Liat Pillersdorf Orly Rottenberg
Avi Anouchi Shay Fahima
Michael Keren Sivan Dotan Naftali Nir
Tomer Bar-Nathan | Yoel Baruchin Evan Schendler
Lihi Katzenelson
Eyal Aichel Shahar Uziely Edan Regev
Yehudit Biton Ohad Shalem Gitit Ramot-Adler
Omri Schnaider Rinat Michael
Adi Attar
Ivor Krumholtz Daniella Milner
Harel Sinai Amos Oseasohn Guy Kortany Goor Koren
Adi Daniel
Dafna Shaham
Miriam Friedmann Itamar Lippner Ricki Newman
Roni Osborne Ortal Zanzuri Reut Sasson
Josh Hersch
Roey Sasson Nadav Goffer
Shir Eshkol Nir Rodnizky | Noa Slavin
Guy Fatal Shani Lorch Ira Burshtein Elichai Bitter Amir Weiser Itamar Cohen
Shai Margalit Yossi Paloch
Ofir Schwartz
Meital Singer Yonatan Whitefield Shira Teger Rachel Lerman Ravid Saar Debbie Shalit Sophie Blackston Hagar Mizrachi
Elad Morgenstern
Ron Ashkenazi Dafna Raz Sara Haber Ilan Akouka Shlomit Bukaya Yehonatan Cohen David Shmulevitz Tair Cherbakovsky Ophir Dagan
Shira Livne Yael Meretyk | Dov Ehrman Nataly Damary Noam Pratzer Nava Rozolyo Shiran Glitman Dor Daniel Michael Rosenblit Heni Rothstein-Cohen Gal Frenkel Dani Weissberg Lareine Khoury Shirley Youseri Nitzan Kahana Yahel Kaplan Liad Kalderon Daniel Szriber Shachar Hindi Natalie Korenfeld Moshe Pasker Mazi Ohayon Daniel Rosenblatt Nitzan Fisher-Conforti Paul H. Baris (1934-2010) Rami Kook Nira Kuritzky Eran Ilan |
Tel Aviv | July 31, 2017
BioLineRx Ltd.
P.O. Box 45158
19 Hartum Street
Jerusalem 91450
Israel
| Re: | BioLineRx Ltd. — 8,495,575 American Depositary Shares Representing 8,495,575 Ordinary Shares, 2,973,451 Series A Warrants to Purchase 2,973,451 American Depositary Shares, 2,973,451 Series B Warrants to Purchase 2,973,451 American Depositary Shares and 5,946,902 ADSs representing 5,946,902 Ordinary Shares |
Ladies and Gentlemen:
We have acted as Israeli counsel to BioLineRx Ltd., a corporation organized under the laws of the State of Israel (the “Company”), in connection with the issuance and sale by the Company of (i) 8,495,575 American Depositary Shares (the “ADSs”), each ADS representing one (1) ordinary share of the Company, NIS 0.10 par value per share (the “Ordinary Shares”), (ii) 2,973,451 Series A warrants to purchase 2,973,451 ADSs at an exercise price of $2.00 per ADS (the “Series A Warrants”), (iii) 2,973,451 Series B warrants to purchase 2,973,451 ADSs at an exercise price of $4.00 per ADS (the “Series B Warrants” and together with the Series A Warrants, the “Warrants”), and (iv) 5,946,902 ADSs representing 5,946,902 Ordinary Shares issuable upon the exercise of the Warrants (the “Warrant ADSs” and together with the ADSs and the Warrants, the “Offered Securities”), pursuant to the terms of a Subscription Agreement dated July 26, 2017 (the “Subscription Agreement”) entered into between the Company and BVF Partners L.P. (“BVF”) and a Voting and Standstill Agreement dated July 26, 2017 (the “Voting and Standstill Agreement”) entered into between the Company and BVF. The ADSs and Warrants are being issued pursuant to a registration statement on Form F-3 (Registration Statement No. 333-205700) (the “Registration Statement”) filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), the prospectus dated October 16, 2015, and the prospectus supplement dated July 26, 2017, filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations of the Securities Act.
As counsel to the Company in Israel, we have examined copies of the Memorandum of Association and the Articles of Association, as amended, of the Company and such corporate records, instruments, and other documents relating to the Company and such matters of law as we have considered necessary or appropriate for the purpose of rendering this opinion. In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, and the conformity to authentic originals of all documents submitted to us as copies.
Based on the foregoing, we advise you that in our opinion (i) the Ordinary Shares underlying the ADSs are duly authorized, legally issued, fully-paid and non-assessable; (ii) the Warrants have been duly authorized, legally issued, fully-paid and non-assessable; and (iii) the Ordinary Shares underlying the Warrant ADSs, when fully-paid for and issued, will be duly authorized, legally issued, fully paid and non-assessable.
We are members of the Israeli bar, and the opinions expressed herein are limited to questions arising under the laws of the State of Israel, and we disclaim any opinion whatsoever with respect to matters governed by the laws of any other jurisdiction.
We hereby consent to the use of this opinion as Exhibit 5.1 to the Company’s Current Report on Form 6-K to be filed with the Commission on or about July 31, 2017, which will be incorporated by reference in the Registration Statement, and to the reference to us under the caption “Legal Matters” in the prospectus included in the Registration Statement. In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.
| Sincerely, /s/Yigal Arnon & Co. Yigal Arnon & Co. |
