13D Filing: Biotechnology Value Fund LP and BioLineRX Ltd. (BLRX)

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The following constitutes
the Schedule 13D filed by the undersigned (the “Schedule 13D”).

Item 1. Security and Issuer.

This statement relates
to the Ordinary Shares, par value NIS 0.10 per share (the “Shares”), of BioLineRx Ltd., an Israeli corporation (the
“Issuer”) and to American Depositary Shares of the Issuer (“ADS”), each of which represents one Share.
The address of the principal executive offices of the Issuer is 2 HaMa’ayan Street, Modi’in 7177871, Israel.

Item 2. Identity and Background.

(a)       This
statement is filed by Biotechnology Value Fund, L.P., a Delaware limited partnership (“BVF”), Biotechnology Value Fund
II, L.P., a Delaware limited partnership (“BVF2”), Biotechnology Value Trading Fund OS LP (“Trading Fund OS”),
a Cayman Islands Limited Partnership, BVF Partners OS Ltd. (“Partners OS”), a Cayman Islands Limited Liability Company,
BVF Partners L.P., a Delaware limited partnership (“Partners”), BVF Inc., a Delaware corporation, and Mark N. Lampert.
Mr. Lampert is the sole officer and director of BVF Inc.

Each of the foregoing
is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting
Persons is party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are
hereby filing a joint Schedule 13D.

(b)       The
business address of BVF, BVF2, Partners, BVF Inc. and Mr. Lampert is 1 Sansome Street, 30th Floor, San Francisco, California. The
business address of Trading Fund OS and Partners OS is PO Box 309 Ugland House, Grand Cayman, KY1-1104, Cayman Islands.

(c)       The
principal business of each of BVF, BVF2, and Trading Fund OS is investing in securities. The principal business of Partners OS
is serving as the general partner of Trading Fund OS. The principal business of Partners is serving as the general partner of each
of BVF and BVF2, the investment manager of Trading Fund OS, the sole member of Partners OS, and the investment manager of a certain
managed accounts (the “Partners Managed Accounts”). The principal business of BVF Inc. is serving as the general partner
of Partners. Mr. Lampert is the sole officer and director of BVF Inc.

(d)       No
Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).

(e)       No
Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to
such laws.

(f)       Mr.
Lampert is a citizen of the United States of America.

Item 3. Source and Amount of Funds or Other Consideration.

The ADSs and Warrants
(as defined below) purchased by each of BVF, BVF2, Trading Fund OS, and held in the Partners Managed Accounts, were purchased with
working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business)
in open market purchases, except as otherwise noted on Schedule A.

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