BioLineRx (NASDAQ:BLRX) ARDs fell ~19% in the premarket Thursday after the Israeli biotech announced a share purchase agreement in conjunction with a licensing deal with U.K.-based Ayrmid for its lead asset motixafortide, marketed in the U.S. as Aphexda.

According to the deal terms, Ayrmid, the parent company of cell therapy developer Gamida Cell (OTC:GMDAQ), is set to receive an exclusive license to develop and commercialize Aphexda across all indications except cancer.

In return, Hevel Modi'in-based BioLineRx (NASDAQ:BLRX) will receive $10M upfront payments and is eligible to receive up to an additional $87M in commercial milestones plus 18%–23% royalties on net sales.

The licensing deal will take effect worldwide except in Asia, where BioLineRx (BLRX) has granted an exclusive license for Aphexda to Chinese biotech Gloria Biosciences.

Concurrently, the company said it entered into a share purchase agreement with certain funds managed by Highbridge Capital Management, LLC to raise as much as $9M as part of an equity investment expected to close on Thursday.

The deals with Ayrmid and Gloria, along with equity investment from Highbridge Capital, “are expected to provide a strong foundation for BioLineRx to advance its pipeline and identify potential additional assets for development,” the company added.