Exhibit 5.1
Yigal Arnon (1929-2014) 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 Yaniv 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 Micki Shapira Eran Zach Ido Chitman Aner Hefetz David Akrish Nir Rosner Assaf Mesica Liron Hacohen Guy Fuhrer Ezra Gross David Roness Eli Greenbaum Lee Maor Nimrod Vromen Guy Sagiv Shani Rapoport Lior Gelbard Keren Tal Naftali Nir Yael Hoefler Sagi Schiff Netanella Treistman Daniel Damboritz Yulia Lazbin Joshua Lieberman Eyal Aichel Roy Masuri Avi Anouchi Sivan Gilron Dotan | Tomer Bar-Nathan Edan Regev Gitit Ramot-Adler Guy Kortany Goor Koren Roey Sasson Nir Rodnizky Michal Sagmon Hila Rot Eran Kadosh Neta Goshen Chen Lanir Daphna Livneh Tamar Gilboa Adi Samuel Alona Toledano Yuval Shamir Lihi Katzenelson Inbar Hakimian-Nahari Naama Hod Shahar Uziely Yehudit Biton Omri Schnaider Rinat Michael Adi Attar Amos Oseasohn Ofir Paz Adi Daniel Dafna Shaham Miriam Friedmann Roni Osborne Noam Shochat Noa Slavin Michael Horowitz Guy Fatal Shani Lorch Itamar Cohen | Shai Margalit Yonatan Whitefield Moshe Lankry Nir Kamhi Shira Teger Rachel Lerman Ravid Saar Sophie Blackston Elad Morgenstern Ron Ashkenazi Sara Haber Carmel Nudler Shmuel Brill Ben Nachshon Yehonatan Cohen David Shmulevitz Tair Cherbakovsky Aaron Shaw Guy Ziv-Shalom Lior Cohen Goldstein Shiri Vilkin Asaf tenenbaum Liad Kalderon Nataly Margalit Shiran Glitman Dani Weissberg Lareine Khoury Nohar Hadar Nitzan Kahana Tali Har-Oz Tal Alon Ohad Sarusi Mor Ido Nechemia Englman Tomer Tako Natalie Korenfeld Moshe Pasker | Nitzan Fisher Conforti Victoria Savu Derora Tropp Hila Amiel Chaim Cohen Michal Mor Daniel Siso Shalhevet Hetli Galit Frank Elad Peleg Maytal Spivak Avraham Schoen Elan Loshinsky Josh Hauser Eitan Cohen Itai Guttel Dror Kanarik Sarig Royi Heilig Carmel Bareket Maor Alev Vered Glaubach Yair Taitelbaum Gabi Priel Regina Pevzner Igal Lavi Maor Layani Areen Nashef David Chesterman Ido Zahavi Guy Yarom Hillel Segal Yonatan Grinstein Tom Kuper Inbar Rosenthal Hadar Stein Avital Salzman Rotem Cohen | Idan Adar Shahar Iluz Itay Ashkenazi Roei Brizel Ido Sella Evyatar Katz Hadil Nassif Khawand Maayan Malka Rublin Ran Aziel Stav Orenstein Charleen Moerdler Avia Ickovics Lior Hochshtadt Ofek Sinai Shmuel Ofen Or Perel Katya Kagantsov Uri Galatt Yarden Weber Maya Haran Avishai Oberman Elior Goldenberg Eyal Safrai Yuval Dekel Adina Mirchin Gidon Weinstock Of Counsel Roy Keidar Of Counsel Tamar Tavory Of Counsel Paul H. Baris (1934-2010) Rami Kook Nira Kuritzky Eran Ilan |
Tel Aviv September 3, 2021
BioLineRx Ltd.
2 Hamayan Street
Modi’in Technology Park
Modi’in 7177871
Israel
Dear Sir and Madam:
We have acted as Israeli counsel to BiolineRX, Ltd., (the “Company”) in connection with the At-The-Market Offering Agreement, dated as of September 3, 2021 (the “Sales Agreement”), entered into by and between the Company and H.C. Wainwright & Co., LLC (“HCW”) pursuant to which the Company has agreed to issue and sell up to up to $25,000,000 of American Depository Shares (“ADSs” and each ADS sold pursuant to the Sales Agreement, the “Sales Shares”), each ADS representing 15 ordinary shares of the Company, NIS 0.1 par value per share (the “Ordinary Shares” and, such number of Ordinary Shares underlying the Sales Shares, the “Offering Shares”). The Sales Shares will be issued pursuant to a registration statement on Form F-3 (Registration Statement No. 333-251857) (the “Registration Statement”) filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), including the prospectus dated January 11, 2021, and the prospectus supplement dated September 3, 2021 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 Articles of Association of the Company currently in effect, 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), all action on the part of the Company, its directors and its shareholders necessary for the due authorization, and when paid for in accordance with the Sales Agreement, valid issuance, sale and delivery of the Sales Shares and the Offering Shares has been duly taken, and (ii) the Offering Shares have been duly authorized and, when the Sales Shares have been paid for in accordance with the Sales Agreement, will be validly issued and are fully paid and nonassessable.
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 Report on Form 6-K to be filed with the Commission on September 3, 2021, 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 thereunder.
Sincerely, /s/ Yigal Arnon & Co. Yigal Arnon & Co. |
1 Azrieli Center, Tel Aviv, 6702101 | Phone: +972-3-6087777 | Fax: +972-3-6087724 31 Hillel Street, Jerusalem, 9458131 | Phone: +972-2-6239239 | Fax: +972-2-6239233 www.arnon.co.il | info@arnon.co.il |
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