<SEC-DOCUMENT>0001178913-21-000214.txt : 20210121
<SEC-HEADER>0001178913-21-000214.hdr.sgml : 20210121
<ACCEPTANCE-DATETIME>20210121163244
ACCESSION NUMBER:		0001178913-21-000214
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20210121
FILED AS OF DATE:		20210121
DATE AS OF CHANGE:		20210121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BioLineRx Ltd.
		CENTRAL INDEX KEY:			0001498403
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35223
		FILM NUMBER:		21542401

	BUSINESS ADDRESS:	
		STREET 1:		2 HAMA-AYAN STREET
		STREET 2:		MODI-IN TECHNOLOGY PARK
		CITY:			MODI-IN
		STATE:			L3
		ZIP:			7177871
		BUSINESS PHONE:		972-2-548-9100

	MAIL ADDRESS:	
		STREET 1:		2 HAMA-AYAN STREET
		STREET 2:		MODI-IN TECHNOLOGY PARK
		CITY:			MODI-IN
		STATE:			L3
		ZIP:			7177871

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BioLineRX, Ltd.
		DATE OF NAME CHANGE:	20100805
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
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<FILENAME>zk2125406.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
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      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">WASHINGTON, D.C. 20549</div>
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    <div style="line-height: 1.25; font-size: 14pt;">
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">FORM 6-K</div>
    </div>
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      <div style="line-height: 1.25;">&#160;</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PURSUANT TO RULE 13a-16 OR 15d-16 OF</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
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    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">&#160;</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">For the month of January 2021</div>
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      <div style="text-align: center; line-height: 1.25;">_______________________</div>
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      <div style="line-height: 1.25;">&#160;</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">BioLineRx Ltd.</div>
      <div style="text-align: center; line-height: 1.25;">(Translation of registrant&#8217;s name into English)</div>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">2 HaMa&#8217;ayan Street<br>
        Modi&#8217;in 7177871, Israel</div>
      <div style="text-align: center; line-height: 1.25;">&#160;(Address of Principal Executive Offices)</div>
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      <div style="text-align: center; line-height: 1.25;">_______________________</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: &#160; &#160; &#160; &#160;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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    <div style="line-height: 1.25;">
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Form 20-F &#9746;&#160; &#160; &#160; &#160; &#160; Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
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    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">&#160;</div>
    </div>
    <div style="line-height: 1.25;">
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
        Securities Exchange Act of 1934:&#160; &#160; &#160; &#160; &#160;&#160;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Yes <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font>&#160; &#160; &#160; &#160; &#160; No&#160;<font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</font></div>
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          </div>
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          </div>
          <div style="line-height: 1.25;"> <br>
          </div>
          <div style="line-height: 1.25;">On January 19, 2021, BioLineRx Ltd. (&#8220;BioLineRx&#8221; or the &#8220;Company&#8221;) entered into an underwriting agreement (as amended and restated, the &#8220;Underwriting Agreement&#8221;) with H.C. Wainwright&#160;&amp; Co., LLC (&#8220;Wainwright&#8221;),
            relating to the issuance and sale of 14,375,000&#160;American Depositary Shares (&#8220;ADSs&#8221;) of the Company, inclusive of the full exercise by Wainwright of its option to purchase 1,875,000 additional ADSs. The price to the public in the offering is
            $2.40 per ADS.&#160; Each ADS represents fifteen ordinary shares, par value NIS 0.10 per share, of the Company. Wainwright has agreed to purchase the ADSs from the Company pursuant to the Underwriting Agreement at a price of $2.232&#160;per ADS. The net
            proceeds to the Company from this offering are expected to be approximately $31.4&#160;million, after deducting underwriting discounts and commissions and offering expenses payable by the Company. The offering is expected to close on or about
            January&#160;22, 2021, subject to the satisfaction of customary closing conditions.</div>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">The offering is being made pursuant to a shelf registration statement on&#160;Form&#160;F-3&#160;(Registration&#160;Statement&#160;No.&#160;333-251857)&#160;filed&#160;by the Company with the Securities and Exchange Commission (the
        &#8220;SEC&#8221;) that became effective on January 11, 2021, and a prospectus supplement and accompanying prospectus filed with the SEC.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-weight: normal;">The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the
        Company and Wainwright, including for liabilities under the Securities Act of 1933, as amended<font style="font-family: 'Times New Roman',Times,serif;"> (the &#8220;Securities Act&#8221;)</font>, other obligations of the parties and termination provisions.&#160;
        Under the Underwriting Agreement, the Company has agreed not to enter into any agreement to issue or announce the issuance or proposed issuance of any ADSs, ordinary shares or ordinary share equivalents for a period of 60 days following the closing
        of the offering, subject to certain customary exceptions. In addition, subject to a limited exception, the Underwriting Agreement provides that for a period of one year following the closing of the offering, the Company will not effect or enter
        into an agreement to effect a &#8220;variable rate transaction&#8221; as defined in the Underwriting Agreement. The definition of &#8220;variable rate transactions&#8221; does not include sales of ADSs under the Company's at-the-market offering through Wainwright.&#160; The
        representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to
        limitations agreed upon by the contracting parties.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Wainwright is acting as the sole book-running manager for the offering. The Company has agreed to pay Wainwright underwriting discounts and commissions equal to 7.0% of the gross proceeds received
        by the Company from the sale of the ADSs in the offering as well as a management fee equal to 1.0% of the gross proceeds received by the Company from the sale of the ADSs in the offering. In addition, the Company will also issue to Wainwright or
        its designees warrants to purchase up to 5.0% of the aggregate number of ADSs sold in the offering (the &#8220;Underwriter Warrants&#8221;). The Underwriter Warrants are exercisable for five years from commencement of sales in this offering and have an
        exercise price equal to 125% of the public offering price per ADS in the offering, or $3.00 per ADS, subject to adjustments as provided in the terms of the Underwriter Warrants. The Underwriter Warrants and the ADSs issuable upon exercise of the
        Underwriter Warrants will be issued in reliance on the exemption from registration provided by Section&#160;4(a)(2) of the Securities Act as transactions not involving a public offering and in reliance on similar exemptions under applicable state laws.
        The Company will also pay Wainwright $25,000&#160;for&#160;non-accountable&#160;expenses,&#160;up to $75,000 for documented reimbursable expenses and $15,950 for clearing fees.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The foregoing descriptions of the Underwriting Agreement and Underwriter Warrants are not complete and are qualified in their entirety by reference to the full text of the Underwriting Agreement
        and Form of Underwriter Warrant, copies of which are filed as Exhibit 1.1 and Exhibit 10.1, respectively, to this report and are incorporated by reference herein. A copy of the opinion of Yigal Arnon &amp; Co. relating to the legality of the
        issuance and sale of the ordinary shares underlying the ADSs is attached as Exhibit 5.1 hereto.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The Company issued press releases on January&#160;19, 2021 and January 20, 2021 announcing the pricing and upsizing of the offering, which press releases are attached as Exhibits 99.1 and 99.2,
        respectively, to this report.</div>
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    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    <div style="line-height: 1.25;">
      <div style="text-align: justify; line-height: 1.25;">This Report on Form 6-K, including all exhibits hereto, is hereby incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933.</div>
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    <div style="text-align: justify; line-height: 1.25;">This Report on Form 6-K shall not constitute an offer to sell or the solicitation to buy nor shall there be any sale of the ADSs in any state or jurisdiction in which such offer, solicitation or sale
      would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</div>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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      <div style="line-height: 1.25; font-weight: bold;">Warning Concerning Forward Looking Statements</div>
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    <div style="line-height: 1.25;">
      <div style="text-align: justify; line-height: 1.25;">This Report on Form 6-K contains statements which constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These
        forward looking statements are based upon the Company&#8217;s present intent, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur for various reasons, including some reasons which are beyond the Company&#8217;s
        control. For example, this Report on Form 6-K states that the offering is expected to close on or about January 22, 2021. In fact, the closing of the offering is subject to various conditions and contingencies as are customary in underwriting
        agreements in the United States. If these conditions are not satisfied or the specified contingencies do not occur, the offering may not close. For this reason, among others, you should not place undue reliance upon the Company&#8217;s forward looking
        statements. Except as required by law, the Company undertakes no obligation to revise or update any forward looking statements in order to reflect any event or circumstance that may arise after the date of this Report.</div>
      <div style="line-height: 1.25">&#160;</div>
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            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Exhibit&#160;No.</div>
          </td>
          <td style="width: 1.07%; vertical-align: bottom;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="line-height: 1.25; font-weight: bold;">Description</div>
          </td>
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            <div style="text-align: center; line-height: 1.25;">&#160;</div>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_1-1.htm">1.1</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">&#160;</td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_1-1.htm">Amended and Restated Underwriting Agreement, dated January 19, 2021, by
                and between BioLineRx Ltd. and H.C. Wainwright &amp; Co., LLC</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">&#160;</td>
          <td style="width: 1.07%; vertical-align: top;">&#160;</td>
          <td style="width: 88.47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_5-1.htm">5.1</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;"> <br>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_5-1.htm">Opinion of Yigal Arnon &amp; Co.</a></div>
          </td>
        </tr>
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          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_10-1.htm">10.1</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_10-1.htm">Form of Underwriter Warrant to be issued by BioLineRx Ltd. on January 22,
                2021</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_5-1.htm">23.1</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;"> <br>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_5-1.htm">Consent of Yigal Arnon &amp; Co. (contained in Exhibit 5.1)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">&#160;</td>
          <td style="width: 1.07%; vertical-align: top;">&#160;</td>
          <td style="width: 88.47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_99-2.htm">99.1</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-2.htm">Press Release dated January 19, 2021</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">&#160;</td>
          <td style="width: 1.07%; vertical-align: top;">&#160;</td>
          <td style="width: 88.47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10.46%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><a href="exhibit_99-2.htm">99.2</a></div>
          </td>
          <td style="width: 1.07%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;">&#160;&#160;</div>
          </td>
          <td style="width: 88.47%; vertical-align: top;">
            <div style="line-height: 1.25;"><a href="exhibit_99-2.htm">Press Release dated January&#160;20, 2021</a></div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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    <br>
    <div style="line-height: 1.25;">
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
        authorized.</div>
      <div style="line-height: 1.25">&#160;</div>
    </div>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 38.08%; vertical-align: top;" colspan="2">
            <div style="line-height: 1.25; font-weight: bold;">BioLineRx Ltd.</div>
          </td>
          <td style="width: 11.93%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3.09%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 34.99%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 11.93%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
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          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 3.09%; vertical-align: top;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td nowrap="nowrap" style="width: 34.99%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="line-height: 1.25;">/s/&#160;Philip Serlin</div>
          </td>
          <td style="width: 11.93%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3.09%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 34.99%; vertical-align: bottom;">
            <div style="line-height: 1.25;">Philip Serlin</div>
          </td>
          <td style="width: 11.93%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3.09%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 34.99%; vertical-align: top;">
            <div style="line-height: 1.25;">Chief Executive Officer</div>
          </td>
          <td style="width: 11.93%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">Dated: January 21, 2021</div>
      <div style="line-height: 1.25;"> <br>
      </div>
      <div style="line-height: 1.25;">
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_1-1.htm
<DESCRIPTION>UNDERWRITING AGREEMENT
<TEXT>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.85pt 0 0; text-align: right"><u><font style="font-weight: bold;">Exhibit 1.1</font></u> <br>
  </p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 11.15pt 153.85pt 0 153.8pt; text-align: center; text-indent: 7.3pt">BIOLINERX LTD.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 11.15pt 15.5pt 0 13.5pt; text-align: center; text-indent: 7.3pt"><u>AMENDED AND RESTATED UNDERWRITING AGREEMENT</u></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman,Times,serif; margin: 4.5pt 0px 0px 378pt; text-align: right;">January 19, 2021</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.15pt 315.8pt 0 5pt">H.C. Wainwright &amp; Co., LLC</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.15pt 315.8pt 0 5pt">430 Park Avenue</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.15pt 315.8pt 0 5pt">New York, New York 10022</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0 5pt">Ladies and Gentlemen:</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.6pt 0 0 7.1pt; text-align: justify">BioLineRX Ltd., a company limited by shares organized under the laws of the State of Israel (the &#8220;<u>Company</u>&#8221;), confirms its agreement with H.C.
    Wainwright &amp; Co., LLC (&#8220;<u>Wainwright</u>&#8221;), with respect to the issue and sale by the Company of an aggregate of 12,500,000 American Depositary Shares (&#8220;<u>ADSs</u>&#8221;), each representing fifteen ordinary shares, par value NIS 0.10 per share (the &#8220;<u>Ordinary



      Shares</u>&#8221;), of the Company (the &#8220;<u>Initial Securities</u>&#8221;), and the purchase by Wainwright of the number of Initial Securities set forth in said Exhibit A hereto, and with respect to the grant by the Company to Wainwright of the option described
    in Section 2(b) hereof to purchase all or any part of 1,875,000 additional ADSs (the &#8220;<u>Option Securities</u>&#8221;). The Initial Securities to be purchased by Wainwright together with the Option Securities are hereinafter called, collectively, the &#8220;<u>Securities</u>.&#8221;



    The ADSs will be issued pursuant to the Deposit Agreement dated as of July 21, 2011, among the Company, The Bank of New York Mellon as Depositary (the &#8220;<u>Depositary</u>&#8221;) and the owners and holders of ADSs from time to time, as such agreement may be
    amended or supplemented (the &#8220;<u>Deposit Agreement</u>&#8221;). Certain capitalized terms used in this agreement (this &#8220;<u>Agreement</u>&#8221;) are defined in Section 15 hereof. This Agreement amends, restates and supersedes in its entirety the underwriting
    agreement, dated as of January 19, 2021, between the Company and Wainwright.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 5pt; text-align: justify; text-indent: 36pt">The Company has prepared and previously delivered to you a preliminary prospectus supplement dated January 19, 2021 (the &#8220;<u>Preliminary
      Prospectus Supplement</u>&#8221;) relating to the Securities, and a related prospectus dated January 11, 2021 (the &#8220;<u>Base Prospectus</u>&#8221;). The Preliminary Prospectus Supplement, together with the Base Prospectus and including the documents incorporated
    or deemed to be incorporated by reference therein pursuant to Item 6 of Form F-3 under the Securities Act of 1933, as amended (the &#8220;<u>1933 Act</u>&#8221;), are hereinafter called, collectively, the &#8220;<u>Pre-Pricing Prospectus</u>.&#8221; Promptly after the
    execution and delivery of this Agreement, the Company will prepare and file with the Commission one or more prospectus supplements dated January 19, 2021 relating to the Securities (the &#8220;<u>Prospectus Supplement</u>&#8221;) and will file the Prospectus
    Supplement and the Base Prospectus with the Commission, all in accordance with the provisions of Rule 430B and Rule 424(b), and the Company has previously advised you of all information (financial and other) that will be set forth therein. The
    Prospectus Supplement and the Base Prospectus, in the form first furnished to Wainwright for use in connection with the offering of the Securities (whether to meet the request of purchasers pursuant to Rule 173(d) or otherwise), including the documents
    incorporated or deemed to be incorporated by reference therein pursuant to Item 6 of Form F-3 under the 1933 Act, are herein called, collectively, the &#8220;<u>Prospectus</u>.&#8221;</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">SECTION 1. <u>Representations and Warranties.</u></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u></u></font><u>Representations and Warranties by the Company</u><i>.
    </i>The Company represents and warrants to Wainwright as of the date hereof, as of the Applicable Time, as of the Closing Date referred to in Section 2(d) hereof, and as of each Option Closing Date (if any) referred to in Section 2(b) hereof and agrees
    with Wainwright as follows:</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(1)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>Compliance with Registration Requirements</u>. The Company
    meets the requirements for use of Form F-3 under the 1933 Act and the Securities have been duly registered under the 1933 Act pursuant to the Registration Statement. Each of the Initial Registration Statement and any post-effective amendments thereto
    have been declared effective under the 1933 Act and any Rule 462(b) Registration Statement has become effective under the 1933 Act or, not later than 8:00 a.m. (New York City time) on the business day immediately after the date of this Agreement, will
    become effective under the 1933 Act, and no stop order suspending the effectiveness of the Initial Registration Statement or any Rule 462(b) Registration Statement has been issued under the 1933 Act and no proceedings for that purpose have been
    instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on the part of the Commission for additional information has been complied with.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(2)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>Registration Statement, Prospectus and Disclosure at Time of
      Sale</u>. At the respective times that the Initial Registration Statement, any Rule 462(b) Registration Statement and any amendments thereto became effective, at each time subsequent to the filing of the Initial Registration Statement that the
    Company filed an annual report on Form 20-F (or any amendment thereto) with the Commission, at each deemed effective date with respect to Wainwright pursuant to Rule 430B(f)(2), and at the Closing Date (and, if any Option Securities are purchased, at
    the applicable Option Closing Date), the Initial Registration Statement, any Rule 462(b) Registration Statement and any amendments to any of the foregoing complied and will comply in all material respects with the requirements of the 1933 Act and the
    1933 Act Regulations and did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 40.95pt; text-align: justify; text-indent: 36pt">At the respective times the Prospectus or any amendment or supplement thereto was filed pursuant to Rule 424(b), and at the Closing
    Date (and, if any Option Securities are purchased, at the applicable Option Closing Date), and at any time when a prospectus is required (or, but for the provisions of Rule 172, would be required) by applicable law to be delivered in connection with
    sales of the Securities (whether to meet the requests of purchasers pursuant to Rule 173(d) or otherwise), neither the Prospectus nor any amendments or supplements thereto included or will include an untrue statement of a material fact or omitted or
    will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 40.95pt; text-align: justify; text-indent: 36pt">As of the Applicable Time (except in the case of clause (z) below) and as of each time prior to the later of the time that an investor
    agrees (orally or in writing) to purchase or, if applicable, reconfirms (orally or in writing) an agreement to purchase any Securities from Wainwright, neither (w) any &#8220;road show&#8221; (as defined in Rule 433) that does not constitute an Issuer Free Writing
    Prospectus, (x) any Issuer General Use Free Writing Prospectuses, if any, issued at or prior to the Applicable Time, the Pre-Pricing Prospectus as of the Applicable Time and the information, if any, included on Exhibit D hereto, all considered together
    (collectively, the &#8220;<u>General Disclosure Package</u>&#8221;), nor (y)&#160;any individual Issuer Limited Use Free Writing Prospectus, when considered together with the General Disclosure Package, nor (z) any Issuer General Use Free Writing Prospectuses issued
    subsequent to the Applicable Time, when considered together with the General Disclosure Package, included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the statements
    therein, in the light of the circumstances under which they were made, not misleading.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">Each preliminary prospectus and the Prospectus and any amendments or supplements to any of the foregoing filed as part of the
    Registration Statement or any amendment thereto, or filed pursuant to Rule 424 under the 1933 Act, or delivered to Wainwright for use in connection with the offering of the Securities, complied when so filed or when so delivered, as the case may be, in
    all material respects with the 1933 Act and the 1933 Act Regulations.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">The representations and warranties in the preceding paragraphs of this Section 1(a)(2) do not apply to statements in or omissions from
    the Registration Statement, any preliminary prospectus, the Prospectus or any Issuer Free Writing Prospectus or any amendment or supplement to any of the foregoing made in reliance upon and in conformity with written information furnished to the
    Company by Wainwright expressly for use therein, it being understood and agreed that the only such information furnished by Wainwright as aforesaid consists of the information described as such in Section 6(b) hereof.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">At the respective times that the Initial Registration Statement, any Rule 462(b) Registration Statement or any amendment to any of the
    foregoing were filed and as of the earliest time after the filing of the Initial Registration Statement that the Company or any other offering participant made a bona fide offer of the Securities within the meaning of Rule 164(h)(2), and at the date
    hereof, the Company was not and is not an &#8220;ineligible issuer&#8221; as defined in Rule 405, in each case without taking into account any determination made by the Commission pursuant to paragraph (2) of the definition of such term in Rule 405; and without
    limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering
    contemplated hereby.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">The copies of the Initial Registration Statement and any Rule 462(b) Registration Statement and any amendments to any of the foregoing
    and the copies of each preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements to any of the foregoing, that have been or
    subsequently are delivered to Wainwright in connection with the offering of the Securities (whether to meet the request of purchasers pursuant to Rule 173(d) or otherwise) were and will be identical to the electronically transmitted copies thereof
    filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. For the purposes of this Agreement, references to the &#8220;delivery&#8221; or &#8220;furnishing&#8221; of any of the foregoing documents to Wainwright, and any similar terms,
    include, without limitation, electronic delivery.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">Each Issuer Free Writing Prospectus (if any), as of its issue date and at all subsequent times through the completion of the public
    offering and sale of the Securities did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement, any preliminary prospectus or the Prospectus that has
    not been superseded or modified.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 6.05pt 0 41pt; text-align: justify; text-indent: 36pt">(3)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Foreign Private Issuer</u>. The Company is a &#8220;foreign
    private issuer,&#8221; as such term is defined in Rule 405 of the 1933 Act.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(4)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>Incorporated Documents</u>. The documents incorporated or
    deemed to be incorporated by reference in the Registration Statement, the Base Prospectus, the Prospectus Supplement and the Prospectus (the &#8220;<u>Incorporated Documents</u>&#8221;), when they were filed with the Commission, conformed in all material respects
    to the requirements of the Securities Exchange Act of 1934, as amended (the &#8220;<u>1934 Act</u>&#8221;) and the 1934 Act Regulations, and none of the Incorporated Documents, when they were filed with the Commission, contained any untrue statement of a material
    fact or omitted to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made not misleading; and any further documents so filed and incorporated by reference in the Registration Statement,
    the Base Prospectus, the Prospectus Supplement or the Prospectus, when such documents are filed with the Commission, will conform in all material respects to the requirements of the 1934 Act and the 1934 Act Regulations, as applicable, and will not
    contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(5)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>Independent Accountants</u>. The Company&#8217;s accountants are
    Kesselman and Kesselman, Certified Public Accountants (Isr.), a member firm of PricewaterhouseCoopers International Limited. To the knowledge of the Company, such accounting firm (i) is a registered public accounting firm as required by the 1934 Act
    and (ii) shall express its opinion with respect to the financial statements to be included in the Company&#8217;s annual report for the fiscal year ending December 31, 2020.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(6)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>SEC Reports</u>. The Company has complied in all material
    respects with requirements to file all SEC Reports on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC
    Reports complied in all material respects with the requirements of the 1933 Act and the 1934 Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to
    be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material respects
    with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with International Financial Reporting Standards
    applied on a consistent basis during the periods involved (&#8220;<u>IFRS</u>&#8221;), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by
    IFRS, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of
    unaudited statements, to normal, immaterial, year-end audit adjustments.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(7)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>No Material Adverse Change in Business</u>. Since the date of
    the latest audited financial statements included within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof (i) there has been no event, occurrence or development that has had or that could
    reasonably be expected to result in a Material Adverse Effect (as defined below), (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business
    consistent with past practice and (B) liabilities not required to be reflected in the Company&#8217;s financial statements pursuant to IFRS or disclosed in the SEC Reports, (iii) the Company has not altered its method of accounting, (iv) the Company has not
    declared or made any dividend or distribution of cash or other property to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to
    any officer, director or &#8220;<u>Affiliate</u>&#8221; (defined as any Person (as defined below) that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and
    construed under Rule 144 under the 1933 Act), except pursuant to existing Company equity plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the ADSs
    contemplated by this Agreement or as set forth in the SEC Reports, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or
    their respective businesses, prospects, properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not
    been publicly disclosed at least 1 trading day prior to the date that this representation is made.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(8)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font><u>Due Organization and Existence of the Company</u>. The
    Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing, and, if applicable under the laws of the jurisdiction in which they are formed, in good standing under the laws of the jurisdiction of its
    incorporation or organization (if the concept of good standing exists in such jurisdiction), with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor
    any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct
    business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in
    good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of this Agreement, (ii) a material adverse effect on the results of operations, assets,
    business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, from that set forth in the Registration Statement, the Base Prospectus, any Prospectus Supplement, the Prospectus or the Incorporated
    Documents, or (iii) a material adverse effect on the Company&#8217;s ability to perform in any material respect on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a &#8220;<u>Material Adverse Effect</u>&#8221;) and no &#8220;Proceeding&#8221; (which
    for purposes of this Agreement shall mean any action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), has been instituted, or the Company&#8217;s knowledge, threatened,
    in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(9)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Subsidiaries</u>. All of the direct and indirect
    subsidiaries (individually, a &#8220;<u>Subsidiary</u>&#8221;) of the Company are set forth in the most recent Annual Report on Form 20-F filed with the Commission. Except as set forth in the SEC Reports, the Company owns, directly or indirectly, all of the
    capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and
    similar rights to subscribe for or purchase securities.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(10)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160; </font><u>Capitalization</u>. The capitalization of the Company is as
    set forth in the SEC Reports. Except as set forth in the Registration Statement, the Base Prospectus, the Prospectus Supplement and the Prospectus, the Company has not issued any share capital since its most recently filed Report on Form 6-K under the
    1934 Act, other than pursuant to the exercise of employee equity options under the Company&#8217;s equity plans, the issuance of Ordinary Shares to employees pursuant to the Company&#8217;s employee stock purchase plans and pursuant to the conversion and/or
    exercise of Ordinary Share Equivalents outstanding as of the date of the most recently filed Report on Form 6-K under the 1934 Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate
    in the transactions contemplated by this Agreement. Except as set forth in the Registration Statement, the Base Prospectus, the Prospectus Supplement and the Prospectus, there are no outstanding options, warrants, scrip rights to subscribe to, calls or
    commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any ADSs, Ordinary Shares, or contracts,
    commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional ADSs, Ordinary Shares or Ordinary Share Equivalents or share stock of any Subsidiary. The issuance and sale of the ADSs
    pursuant to this Agreement will not obligate the Company or any Subsidiary to issue ADSs, Ordinary Shares or other securities to any Person. Except for securities or instruments that are exhibits to the Incorporated Documents, there are no outstanding
    securities or instruments of the Company or any Subsidiary with any provision that adjusts the exercise, conversion, exchange or reset price of such security or instrument upon an issuance of securities by the Company or any Subsidiary. Except as set
    forth in the SEC Reports, there are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the
    Company or any Subsidiary is or may become bound to redeem a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or &#8220;phantom share&#8221; plans or agreements or any similar plan or agreement. All of the
    outstanding Ordinary Shares, including those represented by ADSs, are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares was
    issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any shareholder, the Company&#8217;s board of directors or others is required for the issuance and sale of the
    ADSs pursuant to this Agreement. Except as set forth in the SEC Reports, there are no shareholders agreements, voting agreements or other similar agreements with respect to the Company&#8217;s Ordinary Shares to which the Company is a party or, to the
    knowledge of the Company, between or among any of the Company&#8217;s shareholders.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 41pt; text-align: justify; text-indent: 36pt">(11)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; <u></u></font><u>Authorization of the Agreement</u>. The Company has the
    requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the
    consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Company&#8217;s board of directors or the Company&#8217;s shareholders in
    connection herewith other than in connection with the Required Approvals. This Agreement has been duly executed and delivered by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of
    the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
    enforcement of creditors&#8217; rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by
    applicable law.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(12)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Authorization of the Deposit Agreement</u>. The Deposit
    Agreement has been duly authorized, executed and delivered by the Company and constitutes a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by
    bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors&#8217; rights and to general principles of equity; upon due issuance by the Depositary ADSs against the
    deposit of the Ordinary Shares in respect thereof in accordance with the Deposit Agreement, such ADSs will be duly and validly issued and the holders and beneficial owners thereof will be entitled to the rights specified therein and in the Deposit
    Agreement; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the General Disclosure Package and the Prospectus.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(13)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Authorization of Securities</u>. The Securities to be sold by
    the Company under this Agreement and the Ordinary Shares underlying such Securities (the &#8220;<u>Underlying Shares</u>&#8221;) have been duly authorized and, when issued and paid for in accordance with this Agreement, will be duly and validly issued, fully paid
    and nonassessable, free and clear of all Liens imposed. The Company has reserved from its duly authorized capital stock the maximum number of shares of Ordinary Shares underlying the ADSs issuable pursuant to this Agreement. The Ordinary Shares are
    being offered and sold pursuant to the Registration Statement, and the Company and the Depositary have prepared and filed with the Commission a registration statement relating to the ADSs on Form F-6 (File No. 333-175360) for the registration under the
    1933 Act which became effective on July 21, 2011 (the &#8220;<u>Form F-6</u>&#8221;).</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(14)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>FDA</u>. As to each product subject to the jurisdiction of the
    U.S. Food and Drug Administration (&#8220;FDA&#8221;) under the Federal Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (&#8220;FDCA&#8221;) that is manufactured, packaged, labeled, tested, distributed, sold, and/or marketed by the Company or any of
    its Subsidiaries (each such product, a &#8220;Pharmaceutical Product&#8221;), such Pharmaceutical Product is being manufactured, packaged, labeled, tested, distributed, sold and/or marketed by the Company in compliance with all applicable requirements under FDCA
    and similar laws, rules and regulations relating to registration, investigational use, premarket clearance, licensure, or application approval, good manufacturing practices, good laboratory practices, good clinical practices, product listing, quotas,
    labeling, advertising, record keeping and filing of reports, except where the failure to be in compliance would not have a Material Adverse Effect. There is no pending, completed or, to the Company's knowledge, threatened, action (including any
    lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge, complaint, or investigation) against the Company or any of its Subsidiaries, and none of the Company or any of its Subsidiaries has received any notice, warning letter
    or other communication from the FDA or any other governmental entity, which (i) contests the premarket clearance, licensure, registration, or approval of, the uses of, the distribution of, the manufacturing or packaging of, the testing of, the sale of,
    or the labeling and promotion of any Pharmaceutical Product, (ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials relating to, any
    Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by the Company or any of its Subsidiaries, (iv) enjoins production at any facility of the Company or any of its Subsidiaries, (v) enters or proposes to enter into a
    consent decree of permanent injunction with the Company or any of its Subsidiaries, or (vi) otherwise alleges any violation of any laws, rules or regulations by the Company or any of its Subsidiaries, and which, either individually or in the aggregate,
    would have a Material Adverse Effect. The properties, business and operations of the Company have been and are being conducted in all material respects in accordance with all applicable laws, rules and regulations of the FDA. The Company has not been
    informed by the FDA that the FDA will prohibit the marketing, sale, license or use in the United States of any product proposed to be developed, produced or marketed by the Company nor has the FDA expressed any concern as to approving or clearing for
    marketing any product being developed or proposed to be developed by the Company.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(15)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Description of Securities</u>. The Ordinary Shares, all
    outstanding warrants and convertible securities and the Company&#8217;s articles of association and other Organizational Documents conform in all material respects to the respective statements relating thereto contained in the Registration Statement, the
    General Disclosure Package and the Prospectus.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt"> <br>
  </p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(16)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Absence of Defaults and Conflicts</u>. Neither the Company
    nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any
    Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound
    (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority relating to the Company or any Subsidiary or (iii) is or has been in violation of
    any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety
    and employment and labor matters, except in each case of (i), (ii) and (iii) as could not have or reasonably be expected to result in a Material Adverse Effect.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.65pt 0 41pt; text-align: justify; text-indent: 36pt"> <br>
  </p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(17)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Conflicts.</u> The execution, delivery and performance by
    the Company of this Agreement, the issuance and sale of the Securities, including the Underlying Shares, and the consummation by the Company of the other transactions contemplated hereby do not and will not (i) conflict with or violate any provision of
    the Company&#8217;s or any Subsidiary&#8217;s certificate or articles of association, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default)
    under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration or cancellation (with or without
    notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or
    asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any applicable law, rule, regulation, order, judgment, injunction, decree or other restriction of any
    court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of
    each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(18)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Absence of Labor Dispute</u>. No labor dispute exists or, to
    the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company&#8217;s or its Subsidiaries&#8217; employees is a member of a union that
    relates to such employee&#8217;s relationship with the Company or such Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships with
    their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary
    information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its
    Subsidiaries to any liability with respect to any of the foregoing matters.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(19)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Absence of Proceedings</u>. Except as set forth in the SEC
    Reports, there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any
    court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an &#8220;Action&#8221;). None of the Actions set forth in the SEC Reports, (i) adversely affects or challenges the legality,
    validity or enforceability of this Agreement or the ADSs or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor, to the knowledge of the
    Company, any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of
    the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the
    effectiveness of any registration statement filed by the Company or any Subsidiary under the 1934 Act or the 1933 Act.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(20)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Accuracy of Descriptions and Exhibits</u>. The information in
    the Pre-Pricing Prospectus and the Prospectus under the captions &#8220;Risk Factors&#8221; and the information in the Company&#8217;s annual report on Form 20-F for the fiscal year ended December 31, 2019, as amended, under the captions &#8220;Item 4. Information on the
    Company&#8212;B. Business Overview&#8212;Intellectual Property,&#8221; &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Government Regulations and Funding,&#8221; &#8220;Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources,&#8221; &#8220;Item 6.
    Directors, Senior Management and Employees&#8212;B. Compensation,&#8221; &#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices,&#8221; &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;B. Related Party Transactions,&#8221; &#8220;Item 8. Financial
    Information &#8212;A. Financial Statements and Other Financial Information&#8212;Legal Proceedings,&#8221; &#8220;Item 10. Additional Information&#8212;B. Articles of Association,&#8221; and &#8220;Item 10. Additional Information&#8212;E. Taxation,&#8221; in each case to the extent that it constitutes
    matters of law, summaries of legal matters, summaries of provisions of the Company&#8217;s Organizational Documents or any other instruments or agreements, summaries of legal proceedings, or legal conclusions, is correct in all material respects; all
    descriptions in the Registration Statement, the General Disclosure Package and the Prospectus of any other Company Documents are accurate in all material respects; and there are no franchises, contracts, indentures, mortgages, deeds of trust, loan or
    credit agreements, bonds, notes, debentures, evidences of indebtedness, leases or other instruments, agreements or documents required to be described or referred to in the Registration Statement, the Pre-Pricing Prospectus or the Prospectus or the
    documents incorporated or deemed to be incorporated by reference therein or to be filed as exhibits to the Registration Statement or the documents incorporated or deemed to be incorporated by reference therein which have not been so described and filed
    as required.</p>
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    have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights necessary or
    required for use in connection with their respective businesses as described in the SEC Reports and which the failure to so have could have a Material Adverse Effect (collectively, the &#8220;<u>Intellectual Property Rights</u>&#8221;). None of, and neither the
    Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date
    of this Agreement except as would not be reasonably expected to have a Material Adverse Effect. Neither the Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the SEC Reports, a written
    notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the
    Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the
    secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 41pt; text-align: justify; text-indent: 36pt"> (22)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Absence of Further Requirements</u>. The Company is not
    required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other &#8220;<u>Person</u>&#8221; (defined as an individual
    or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind, including the Nasdaq Capital
    Market) is necessary or required to be obtained by the Company for the authorization, execution, delivery or performance by the Company of this Agreement, for the offering of the Securities as contemplated by this Agreement, for the issuance, sale or
    delivery of the Securities to be sold by the Company pursuant to this Agreement, for the issuance of the Underlying Shares or for the consummation of any of the other transactions contemplated by this Agreement, in each case on the terms contemplated
    by the Registration Statement, the General Disclosure Package and the Prospectus, other than (i) the filings required by this Agreement, (ii) the filing with the Commission of the Prospectus Supplement, (iii) the filing of a Report on Form 6-K with
    respect to this Agreement, (iv) if applicable, application(s) to the Nasdaq Capital Market and Tel Aviv Stock Exchange for the listing of the ADSs or the Underlying Shares to be offered and sold hereunder for trading thereon in the time and manner
    required thereby, (v) post-closing notice of the transactions contemplated by the Agreement to the Israeli Innovation Authority, (vi) such filings as are required to be made with the Tel Aviv Stock Exchange, (vii) such as have been obtained under
    applicable laws (domestic or foreign, including Israeli) including, without limitation, the 1933 Act, the 1933 Act Regulations, the 1934 Act and the 1934 Act Regulations, and (viii) such filings as are required to be made under applicable state
    securities laws and the rules and regulations of the Financial Industry Regulatory Authority, Inc. (&#8220;<u>FINRA</u>&#8221;) or the laws of the state of Israel (collectively, the &#8220;<u>Required Approvals</u>&#8221;).</p>
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    possess all certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except where the failure to possess
    such permits could not reasonably be expected to result in a Material Adverse Effect (&#8220;<u>Material Permits</u>&#8221;), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any
    Material Permit.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(24)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Title to Assets</u>. Except as set forth in the SEC Reports,
    the Company and the Subsidiaries have good and marketable title in fee simple to or have valid and marketable rights to lease or otherwise use all real property that is described on the SEC Reports and good and marketable title in or have valid and
    marketable rights to lease or otherwise use all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value
    of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been
    made therefor in accordance with IFRS and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and
    enforceable leases with which the Company and the Subsidiaries are in compliance, except where such non-compliance would not be material to the Company and the Subsidiaries, taken as a whole.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(25)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Investment Company Act</u>. Neither the Company nor the
    Subsidiary is, and upon the issuance and sale of the Securities as herein contemplated and the receipt and application of the net proceeds therefrom as described in the General Disclosure Package and the Prospectus under the caption &#8220;Use of Proceeds,&#8221;
    will not be, an &#8220;investment company&#8221; or an entity &#8220;controlled&#8221; by an &#8220;investment company&#8221; as such terms are defined in the Investment Company Act of 1940, as amended.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(26)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Environmental Laws</u>. The Company and its Subsidiaries
    (i) are in compliance with all federal, state, local and foreign laws relating to pollution or protection of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface strata), including laws relating
    to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, &#8220;<u>Hazardous Materials</u>&#8221;) into the environment, or otherwise relating to the manufacture,
    processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice letters, orders,
    permits, plans or regulations, issued, entered, promulgated or approved thereunder (&#8220;<u>Environmental Laws</u>&#8221;); (ii) have received all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their
    respective businesses; and (iii) are in compliance with all terms and conditions of any such permit, license or approval where in each clause (i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually or in the
    aggregate, a Material Adverse Effect.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.8pt 0 41pt; text-align: justify; text-indent: 36pt">(27)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Parties to Lock-Up Agreements</u>. Each of the persons
    listed on Exhibit B hereto has executed and delivered to Wainwright a lock-up agreement in the form of Exhibit C hereto. Exhibit B hereto contains a true, complete and correct list of all directors and officers of the Company.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 41pt; text-align: justify; text-indent: 36pt">(28)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Nasdaq.</u> The outstanding ADSs are listed on the Nasdaq
    Capital Market.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 41pt; text-align: justify; text-indent: 36pt">(29)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Listing and Maintenance Requirements</u>. The ADSs are
    registered pursuant to Section 12(b) or 12(g) of the 1934 Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the ADSs under the 1934 Act nor has the Company
    received any notification that the Commission is contemplating terminating such registration.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(30)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Application of Takeover Protections</u>. The Company and the
    Company&#8217;s board of directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover
    provision under the Company&#8217;s articles of association (or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the purchasers of the Securities in connection with the offering described herein.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(31)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>FINRA Matters</u>. All of the information provided to
    Wainwright or to counsel for Wainwright by the Company, its counsel, its officers and directors and the holders of any securities (debt or equity) or options to acquire any securities of the Company in connection with the offering of the Securities is
    true, complete, correct and compliant with FINRA&#8217;s rules and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules is true, complete and correct.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(32)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>FINRA Member Shareholders</u>. There are no affiliations with
    any FINRA member firm among the Company&#8217;s officers, directors or, to the knowledge of the Company, any five percent (5%) or greater shareholder of the Company, except as set forth in the Registration Statement, the Base Prospectus, any Prospectus
    Supplement or the Prospectus.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(33)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Solvency</u>. Based on the consolidated financial condition of
    the Company as of the Effective Date, (i) the fair saleable value of the Company&#8217;s assets exceeds the amount that will be required to be paid on or in respect of the Company&#8217;s existing debts and other liabilities (including known contingent
    liabilities) as they mature, (ii) the Company&#8217;s assets do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital
    requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to
    liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts
    beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that it will file
    for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the date hereof. The SEC Reports sets forth as of the date hereof all outstanding secured and unsecured Indebtedness of the Company
    or any Subsidiary, or for which the Company or any Subsidiary has commitments. For the purposes of this Agreement, &#8220;Indebtedness&#8221; means (x) any liabilities for borrowed money or amounts owed by the Company or any of its Subsidiaries in excess of
    $100,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the
    Company&#8217;s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (z) the present value of any lease
    payments in excess of $100,000 due under leases required to be capitalized in accordance with IFRS. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, neither the
    Company nor any Subsidiary is in default with respect to any Indebtedness.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(34)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Tax Returns</u>. Except for matters that would not,
    individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise
    tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and
    declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material
    amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 77pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">(35)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Insurance</u>. The Company and the Subsidiaries are insured by
    insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary for companies of similar size as the Company in the businesses in which the Company and the Subsidiaries are engaged,
    including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain
    similar coverage from similar insurers as may be necessary to continue its business at a cost that would not result in a Material Adverse Effect.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(36)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Compliance with the Sarbanes-Oxley Act</u>. The Company and
    the Subsidiaries are in compliance in all material respects with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the
    Commission thereunder that are effective as of the date hereof. The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with
    management&#8217;s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with IFRS and to maintain asset accountability, (iii) access to assets is permitted only in
    accordance with management&#8217;s general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company
    and the Subsidiaries have established disclosure controls and procedures (as defined in 1934 Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information
    required to be disclosed by the Company in the reports it files or submits under the 1934 Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&#8217;s rules and forms. The Company&#8217;s certifying officers have
    evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of the period covered by the most recently filed Form 20-F under the 1934 Act (such date, the &#8220;Evaluation Date&#8221;). The Company
    presented in its most recently filed Form 20-F under the 1934 Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation
    Date, there have been no changes in the internal control over financial reporting (as such term is defined in the 1934 Act) of the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially affect, the internal
    control over financial reporting of the Company and its Subsidiaries.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(37)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Pending Proceedings</u>. The Registration Statement is not the
    subject of a pending proceeding or examination under Section 8(d) or 8(e) of the 1933 Act, and the Company is not the subject of a pending proceeding under Section 8A of the 1933 Act in connection with the offering of the Securities. The Company has
    not received any notice that the Commission has issued or intends to issue a stop-order with respect to the Registration Statement or that the Commission otherwise has suspended or withdrawn the effectiveness of the Registration Statement, either
    temporarily or permanently, or, to the knowledge of the Company, intends or has threatened in writing to do so.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(38)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Regulation M Compliance</u>. Neither the Company nor the
    Subsidiary has taken, and neither the Company nor the Subsidiary will take, directly or indirectly, any action designed to or that would constitute or that would reasonably be expected to cause or result in the stabilization or manipulation of the
    price of any security to facilitate the sale or resale of the Securities. In addition, neither the Company nor the Subsidiary has engaged, and neither the Company nor the Subsidiary will engage, in any form of solicitation, advertising or other action
    constituting an offer or a sale under the Israeli Securities Law in connection with the transactions contemplated hereby which would require the Company to publish a prospectus in the State of Israel under the laws of the State of Israel. All grants
    and issuances of the Company&#8217;s securities (including under any share purchase or other equity incentive plans) were made in compliance with the Israeli Securities Law.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(39)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Money Laundering Laws</u>. The operations of the Company and
    its Subsidiaries are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes
    and applicable rules and regulations thereunder (collectively, the &#8220;<u>Money Laundering Laws</u>&#8221;), and no Action or Proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any Subsidiary
    with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary, threatened.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">(40)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Foreign Corrupt Practices Act</u>. Neither the Company nor any
    Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other Person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other
    unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed
    to disclose fully any contribution made by the Company or any Subsidiary (or made by any Person acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of the U.S. Foreign
    Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(41)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Sanctions</u>. Neither the Company nor any Subsidiary nor, to
    the Company's knowledge, any director, officer, agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (&#8220;<u>OFAC</u>&#8221;).</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(42)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>U.S. Real Property Holding Corporation</u>. The Company is not
    and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Wainwright&#8217;s request.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(43)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Bank Holding Company Act.</u> Neither the Company nor any of
    its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the &#8220;BHCA&#8221;) and to regulation by the Board of Governors of the Federal Reserve System (the &#8220;Federal Reserve&#8221;). Neither the Company nor any of its
    Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent or more of the total equity of a bank or any entity that is subject to the
    BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the
    Federal Reserve.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(44)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Benefit Plans Compliance</u><i>. </i>Each share option
    granted by the Company under the Company&#8217;s equity plan was granted in accordance with the terms of the Company&#8217;s equity plan. No share option granted under the Company&#8217;s equity plan has been backdated. The Company has not knowingly granted, and there
    is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or
    its Subsidiaries or their financial results or prospects.</p>
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    disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, (i) neither the Company nor the Subsidiary has a lending or similar relationship with Wainwright or any bank or other lending institution affiliated with
    Wainwright; (ii) the Company will not, directly or indirectly, use any of the proceeds from the sale of the Securities by the Company hereunder to reduce or retire the balance of any loan or credit facility extended by Wainwright or any of its
    &#8220;affiliates&#8221; or &#8220;associated persons&#8221; (as such terms are used in FINRA Rule 5121) or otherwise direct any such proceeds to Wainwright or any of its &#8220;affiliates&#8221; or &#8220;associated persons&#8221; (as so defined); and (iii) there are and have been no transactions,
    arrangements or dealings between the Company or the Subsidiary, on one hand, and Wainwright or any of its &#8220;affiliates&#8221; or &#8220;associated persons&#8221; (as so defined), on the other hand, that, under FINRA Rule 5110 or 5121, must be disclosed in a submission to
    FINRA in connection with the offering of the Securities contemplated hereby or disclosed in the Registration Statement, the General Disclosure Package or Prospectus.</p>
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    taxes or duties, and, assuming that Wainwright is not otherwise subject to taxation in Israel due to Israeli tax residence or the existence of a permanent establishment in Israel, no capital gains, income, withholding or other taxes, are payable by or
    on behalf of Wainwright to the State of Israel or to any political subdivision or authority thereof or therein in connection with: (i) the issuance, sale and delivery of the Securities by the Company; (ii) the purchase from the Company, and the initial
    sale and delivery by Wainwright of the Securities to purchasers thereof or (iii) the execution and delivery of this Agreement or any other document to be furnished hereunder.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(47)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Affiliate Transactions</u>. Except as set forth in the SEC
    Reports, none of the officers or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other
    than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing
    of money from or lending of money to or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is
    an officer, director, trustee, shareholders, member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and
    (iii) other employee benefits, including share option agreements under any equity plan of the Company.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(48)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Stop Transfer Instructions</u>. The Company has, with respect
    to any ADSs (other than the Securities to be sold pursuant to this Agreement) or other shares or any securities convertible into or exercisable or exchangeable for ADSs or other share capital owned or held (of record or beneficially) by any other <font style="letter-spacing: 0.6pt">P</font>ersons who have entered into or are required to enter into an agreement in the form of Exhibit C hereto, instructed the Depositary, transfer agent or other registrar to enter stop transfer instructions and
    implement stop transfer procedures with respect to such securities during the Lock-Up Period; and, during the Lock-Up Period, the Company will not cause or permit any waiver, release, modification or amendment of any such stop transfer instructions or
    stop transfer procedures without the prior written consent of Wainwright.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 41pt; text-align: justify; text-indent: 36pt">(49)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Brokers</u>. There is not a broker, finder or other party that
    is entitled to receive from the Company or the Subsidiary any brokerage or finder&#8217;s fee or other fee or commission as a result of any of the transactions contemplated by this Agreement, except for underwriting discounts and commissions in connection
    with the sale of the Securities to Wainwright pursuant to this Agreement and the other fees and expense reimbursements set forth herein.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">(50)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160; </font><u>Agent for Service of Process</u>. The Company has validly and
    irrevocably appointed Puglisi &amp; Associates as its authorized agent for service of process pursuant to this Agreement and in connection with the Registration Statement.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 41pt; text-align: justify; text-indent: 36pt">(51)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Immunity from Jurisdiction</u>. Neither the Company nor the
    Subsidiary nor any of their properties or assets has any immunity from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) under the laws
    of the State of Israel.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 6pt 0 41pt; text-align: justify; text-indent: 36pt">(52)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160; </font><u>Submission to Jurisdiction</u>. The Company has the power to
    submit, and pursuant to Section 20 of this Agreement, has legally, validly and irrevocably submitted, to the personal jurisdiction of each U.S. federal court or state court located in the Borough of Manhattan, the City and County of New York, New York,
    U.S.A.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 41pt; text-align: justify; text-indent: 36pt"><font style="font-size: 10pt">(53)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160; </font><u>Compliance with Laws</u>. The
      Company and its Subsidiaries are in compliance with all applicable U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the
      failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect</font>.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 42pt; text-align: justify; text-indent: 36pt">(54)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Distribution of Offering Material By the Company</u>. Prior to
    the later of (i) the expiration or termination of the option granted to Wainwright in Section 2(b) hereof and (ii) the completion of Wainwright&#8217;s distribution of the Securities, the Company has not distributed and will not distribute any offering
    material in connection with the offering and sale of the Securities other than the Registration Statement, the Form F-6, the General Disclosure Package, the Prospectus or any free writing prospectus reviewed and consented to by Wainwright, the free
    writing prospectuses, if any, identified on Exhibit E hereto and any Permitted Section 5(d) Communications.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 42pt; text-align: justify; text-indent: 36pt">(55)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>Communications</u>. <font style="letter-spacing: -0.15pt">In</font>
    connection with the offering and sale of the Securities, the Company (i) has not alone engaged in communications with potential investors in reliance on Section 5(d) of the 1933 Act other than Permitted Section 5(d) Communications without the consent
    of Wainwright with entities that are QIBs or IAIs and (ii) has not authorized anyone other than Wainwright to engage in such communications; the Company reconfirms that Wainwright has been authorized to act on its behalf in undertaking Marketing
    Materials, Section 5(d) Oral Communications and Section 5(d) Written Communications in connection with the offering and sale of the Securities; as of the Applicable Time, each Permitted Section 5(d) Communication, when considered together with the
    General Disclosure Package, did not, as of the Applicable Time, include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
    made, not misleading; and each Permitted Section 5(d) Communication, if any, does not, as of the date hereof, conflict with the information contained in the Registration Statement, any preliminary prospectus and the Prospectus.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 78pt; text-align: left; text-indent: 0cm"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 42pt; text-align: justify; text-indent: 36pt">(56)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>eXtensible Business Reporting Language</u>. The interactive
    data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus fairly presents the information called for in all material respects and has been
    prepared in accordance with the Commission&#8217;s rules and guidelines applicable thereto.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 42pt; text-align: justify; text-indent: 36pt">(57)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font><u>[reserved].</u></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 10.8pt 5.95pt 0; text-align: justify; text-indent: 36pt">(b)&#160;&#160;&#160;&#160;&#160; <u>Certificates</u><i>. </i>Any certificate signed by any officer of the Company or the Subsidiary (whether signed on behalf
    of such officer or the Company or the Subsidiary, as applicable) and delivered to Wainwright or to counsel for Wainwright shall be deemed a representation and warranty by the Company to Wainwright as to the matters covered thereby.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 0 0 42pt">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 0 0 42pt">SECTION 2. <u>Sale and Delivery; Closing.</u></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 6pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Initial Securities</u><i>. </i>On the basis of the
    representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company agrees to sell to Wainwright the number of Initial Securities set forth opposite Wainwright&#8217;s name in Exhibit A hereto, and Wainwright
    agrees to purchase the respective number of Initial Securities set forth opposite its name in Exhibit A hereto. The purchase price for the Initial Securities to be paid by Wainwright per ADS shall be $2.232.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 6pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Option Securities</u><i>. </i>In addition, on the basis of
    the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to Wainwright to purchase up to the number of Option Securities set forth opposite Wainwright&#8217;s name in
    Exhibit A hereto, at a price of $2.232 per ADS; <i>provided </i>that the price per ADS shall be reduced by an amount per ADS equal to any dividends or distributions declared, paid or payable by the Company on the Initial Securities but not payable on
    such Option Securities. The option hereby granted will expire at 11:59 P.M. (New York City time) on the 30th day after the date hereof and may be exercised in whole or in part from time to time upon notice by Wainwright to the Company setting forth the
    aggregate number of Option Securities as to which Wainwright is then exercising the option and the time and date of payment and delivery for such Option Securities. Any such time and date of delivery (an &#8220;<u>Option Closing Date</u>&#8221;) shall be
    determined by Wainwright, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Date. If the option is exercised as to all or any portion of the Option Securities, the Company will
    sell to Wainwright the total number of Option Securities then being purchased, and Wainwright will purchase that number of Option Securities then being purchased.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 6pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>[Reserved]</u>.<br>
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    </font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 6pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Closing</u><i>. </i>Payment of the purchase price for, and
    delivery of the certificates (in form and in substance satisfactory to Wainwright), if any, representing, the Initial Securities shall be made at the offices of Greenberg Traurig, P.A., 333 S.E. 2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup> Avenue, Suite 4400, Miami, Florida, 33131,
    or at such other place as shall be agreed upon by Wainwright and the Company, at 10:30 A.M. (New York City time) on January 22, 2021, or such other time not later than five business days after such date as shall be agreed upon by Wainwright and the
    Company (such time and date of payment and delivery being herein called the &#8220;<u>Closing Date</u>&#8221;).</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 6pt; text-align: justify; text-indent: 36pt">In addition, in the event that any or all of the Option Securities are purchased by Wainwright, payment of the purchase price for, and
    delivery of the certificates (in form and substance satisfactory to Wainwright), if any, representing, such Option Securities shall be made at the above-mentioned offices at 10:30 A.M. (New York City time), or at such other place as shall be agreed
    upon by Wainwright and the Company, on each Option Closing Date as specified in the notice from Wainwright to the Company.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 6pt; text-align: justify; text-indent: 36pt">(e)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Delivery of Securities</u><i>. </i>The Company shall deliver,
    or cause to be delivered to Wainwright book-entry entitlements for, the Initial Securities at the Closing Date, against the irrevocable release of a wire transfer of immediately available funds for the amount of the purchase price therefor. The Company
    shall also deliver, or cause to be delivered through the facilities of DTC unless Wainwright shall otherwise instruct, to Wainwright book-entry entitlements for the Option Securities Wainwright has agreed to purchase at the Closing Date or the
    applicable Option Closing Date, as the case may be, against the release of a wire transfer of immediately available funds for the amount of the purchase price therefor. Unless Wainwright otherwise elects, delivery of the Securities will be made by
    credit to the accounts designated by Wainwright through The Depository Trust Company&#8217;s full fast transfer or DWAC programs. Time shall be of the essence, and delivery at the time and place specified in this Agreement is a further condition to the
    obligations of Wainwright.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 6pt; text-align: justify; text-indent: 36pt">SECTION 3. <u>Covenants of the Company</u>. The Company covenants with Wainwright as follows:</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 6pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Compliance with Securities Regulations and Commission Requests</u><i>.</i>
    The Company, subject to Section 3(b), will comply with the requirements of Rule 430B and Rule 433 and will notify Wainwright promptly, and confirm such notice in writing, (i) when any Rule 462(b) Registration Statement or any post-effective amendment
    to the Registration Statement shall be declared or become effective, or when any preliminary prospectus, the Prospectus or any Issuer Free Writing Prospectus or any amendment or supplement to any of the foregoing shall have been filed, (ii) of the
    receipt of any comments from the Commission (and shall promptly furnish Wainwright with a copy of any comment letters and any transcript made by the Company, its legal counsel or accountants of oral comments, and shall furnish Wainwright with copies of
    any written responses thereto a reasonable amount of time prior to the proposed filing thereof with the Commission and will not file any such response to which Wainwright or counsel for Wainwright shall reasonably object in a timely manner), (iii) of
    any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to any preliminary prospectus or the Prospectus, any document incorporated or deemed to be incorporated by reference therein or any Issuer Free
    Writing Prospectus or for additional information, (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of any preliminary prospectus, the
    Prospectus or any Issuer Free Writing Prospectus or any amendment or supplement to any of the foregoing. The Company will make every reasonable effort to prevent the issuance of any stop order and the suspension or loss of any qualification of the
    Securities for offering or sale and any loss or suspension of any exemption from any such qualification, and if any such stop order is issued, or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 6pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Filing of Amendments</u><i>. </i>The Company will give
    Wainwright notice of its intention to file or prepare any amendment to the Registration Statement, any Rule 462(b) Registration Statement, any Issuer Free Writing Prospectus or any amendment, supplement or revision to any preliminary prospectus, the
    Prospectus or any Issuer Free Writing Prospectus, whether pursuant to the 1933 Act or otherwise, and the Company will furnish Wainwright with copies of any such documents within a reasonable amount of time prior to such proposed filing or use, as the
    case may be, and will not file or use any such document to which Wainwright or counsel for Wainwright shall reasonably object in a timely manner. The Company has given Wainwright notice of any filings made pursuant to the 1934 Act or the 1934 Act
    Regulations within 48 hours prior to the Applicable Time. The Company will give Wainwright notice of its intention to make any filing pursuant to the 1934 Act or the 1934 Act Regulations from the Applicable Time through the later of the Closing Date
    (or, if later, through the end of the period during which the Prospectus is required (or, but for the provisions of Rule 172, would be required) to be delivered by applicable law (whether to meet the requests of purchasers pursuant to Rule 173(d) or
    otherwise)) and will furnish Wainwright with copies of any such documents a reasonable amount of time prior to such proposed filing, as the case may be, and will not file or use any such document to which Wainwright or counsel for Wainwright shall
    reasonably object in a timely manner.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 6pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Delivery of Registration Statement</u><i>.</i> The Company
    has furnished or will deliver to Wainwright and counsel for Wainwright, without charge, copies of the Registration Statement and of each amendment thereto (including exhibits filed therewith or incorporated by reference therein and documents
    incorporated or deemed to be incorporated by reference therein or otherwise deemed to be a part thereof) and copies of all consents and certificates of experts.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 6pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Delivery of Prospectuses</u><i>. </i>The Company has
    delivered to Wainwright, without charge, as many copies of each preliminary prospectus and any amendments or supplements thereto as Wainwright reasonably requested, and the Company hereby consents to the use of such copies for purposes permitted by the
    1933 Act. The Company will furnish to Wainwright, without charge, during the period when the Prospectus is required (or, but for the provisions of Rule 172, would be required) to be delivered by applicable law (whether to meet the request of purchasers
    pursuant to Rule 173(d) or otherwise), such number of copies of the Pre-Pricing Prospectus, the Prospectus and any Issuer Free Writing Prospectus and any amendments or supplements to any of the foregoing as Wainwright may reasonably request.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.75pt 0 6pt; text-align: justify; text-indent: 36pt">(e)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Continued Compliance with Securities Laws</u><i>. </i>The




    Company will comply with the 1933 Act, the 1933 Act Regulations, the 1934 Act and the 1934 Act Regulations so as to permit the completion of the distribution of the Securities as contemplated by this Agreement, the General Disclosure Package and the
    Prospectus. If at any time when a prospectus is required (or, but for the provisions of Rule 172, would be required) by the applicable law to be delivered in connection with sales of the Securities (whether to meet the request of purchasers pursuant to
    Rule 173(d) or otherwise), any event shall occur or condition shall exist as a result of which it is necessary (or if Wainwright or counsel for Wainwright shall notify the Company that, in their judgment, it is necessary) to amend the Registration
    Statement or amend or supplement the General Disclosure Package or the Prospectus so that the Registration Statement, the General Disclosure Package or the Prospectus, as the case may be, will not include any untrue statement of a material fact or omit
    to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made or then prevailing, not misleading or if it is necessary (or, if Wainwright or counsel for Wainwright shall notify
    the Company that, in their judgment, it is necessary) to amend the Registration Statement or amend or supplement the General Disclosure Package or the Prospectus in order to comply with the requirements of the 1933 Act, the 1933 Act Regulations, the
    1934 Act or the 1934 Act Regulations, the Company will promptly notify Wainwright of such event or condition and of its intention to file such amendment or supplement (or, if Wainwright or counsel for Wainwright shall have notified the Company as
    aforesaid, the Company will promptly notify Wainwright of its intention to prepare such amendment or supplement) and will promptly prepare and file with the Commission, subject to Section 3(b) hereof, such amendment or supplement as may be necessary to
    correct such untrue statement or omission or to comply with such requirements, and, in the case of an amendment or post-effective amendment to the Registration Statement, the Company will use its reasonable best efforts to have such amendment declared
    or become effective as soon as practicable, and the Company will furnish to Wainwright such number of copies of such amendment or supplement as Wainwright may reasonably request. If at any time an Issuer Free Writing Prospectus conflicts with the
    information contained in the Registration Statement or if an event shall occur or condition shall exist as a result of which it is necessary (or, if Wainwright or counsel for Wainwright shall notify the Company that, in their judgment, it is necessary)
    to amend or supplement such Issuer Free Writing Prospectus so that it will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under
    which they were made or then prevailing, not misleading, or if it is necessary (or, if Wainwright or counsel for Wainwright shall notify the Company that, in their judgment, it is necessary) to amend or supplement such Issuer Free Writing Prospectus in
    order to comply with the requirements of the 1933 Act or the 1933 Act Regulations, the Company will promptly notify Wainwright of such event or condition and of its intention to file such amendment or supplement (or, if Wainwright or counsel for
    Wainwright shall have notified the Company as aforesaid, the Company will promptly notify Wainwright of its intention to prepare such amendment or supplement) and will promptly prepare and, if required by the 1933 Act or the 1933 Act Regulations, file
    with the Commission, subject to Section 3(b) hereof, such amendment or supplement as may be necessary to eliminate or correct such conflict, untrue statement or omission or to comply with such requirements, and the Company will furnish to Wainwright
    such number of copies of such amendment or supplement as Wainwright may reasonably request. In addition, the Company will not engage in any form of solicitation, advertising or other action constituting an offer or a sale under the Israeli Securities
    Law in connection with the transactions contemplated hereby that would require the Company to publish a prospectus in the State of Israel under the laws of the State of Israel.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 6pt; text-align: justify; text-indent: 36pt">(f)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Blue Sky and Other Qualifications</u><i>. </i>The Company
    will use its commercially reasonable efforts, in cooperation with Wainwright, to qualify the Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and
    other jurisdictions (domestic or foreign) as Wainwright may reasonably request and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities; provided, however, that the Company shall not be
    obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any
    jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such
    qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Securities.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 6pt; text-align: justify; text-indent: 36pt">(g)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Rule 158</u><i>. </i>The Company will make generally
    available to its securityholders as soon as practicable an earnings statement (which need not be audited) for the purposes of, and to provide to Wainwright the benefits contemplated by, the last paragraph of Section 11(a) of the 1933 Act.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
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    received by it from the sale of the Securities in the manner specified in the Pre-Pricing Prospectus and the Prospectus under &#8220;Use of Proceeds.&#8221;</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 6pt; text-align: justify; text-indent: 36pt">(i)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Listing</u><i>. </i>In the case of any ADSs that are not
    listed on the Nasdaq Capital Market, the Company will use its best efforts to effect the listing of the ADSs on such exchange as and when required by this Agreement.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 6pt; text-align: justify; text-indent: 36pt">(j)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Restriction on Sale of Securities</u><i>. </i>During the
    Lock-Up Period, the Company will not, without the prior written consent of Wainwright, which consent may be withheld in Wainwright&#8217;s sole discretion, directly or indirectly:</p>
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      sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any ADSs, Ordinary Shares or other share capital or any
      securities convertible into or exercisable or exchangeable for ADSs, Ordinary Shares or other share capital,</font></p>
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      any registration statement under the 1933 Act with respect to any ADSs, Ordinary Shares or other share capital or any securities convertible into or exercisable or exchangeable for any ADSs, Ordinary Shares or other share capital (other than any Rule
      462(b) Registration Statement filed to register Securities to be sold to Wainwright pursuant to this Agreement), or</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 42pt; text-align: justify; text-indent: 36pt"><font style="text-decoration: none">(iii)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font>enter into any swap or
      other agreement, arrangement, hedge or transaction that transfers to another, in whole or in part, directly or indirectly, any of the economic consequences of ownership of any ADSs, Ordinary Shares or other share capital or any securities convertible
      into or exercisable or exchangeable for any ADSs, Ordinary Shares or other share capital,</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5.95pt; text-align: justify">whether any transaction described in clause (i) or (iii) above is to be settled by delivery of ADSs, Ordinary Shares, other share capital, other
    securities, in cash or otherwise, or publicly announce any intention to do any of the foregoing.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.95pt; text-indent: 36pt">Notwithstanding the provisions set forth in the immediately preceding paragraph, the Company may, without the prior written consent of Wainwright:</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: 0cm"> <font style="text-decoration: none; letter-spacing: -0.15pt">(1)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="text-decoration: none">issue the Securities to Wainwright pursuant to this Agreement and the Underlying Shares as contemplated by this Agreement;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none; letter-spacing: -0.15pt">(2)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="text-decoration: none">issue ADSs or Ordinary Shares, and options to purchase ADSs or Ordinary Shares, pursuant to stock option plans, stock purchase or other equity incentive plans described in the General Disclosure Package and the
      Prospectus, as those plans are in effect on the date of this Agreement;</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none; letter-spacing: -0.15pt">(3)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="text-decoration: none">issue ADSs or Ordinary Shares upon the exercise of stock options issued under stock option or other equity incentive plans referred to in clause (2) above, as those plans are in effect on the date of this Agreement, or
      upon the exercise of warrants or convertible securities outstanding on the date of this Agreement, as those warrants and convertible securities are in effect on the date of this Agreement;</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none; letter-spacing: -0.15pt">(4)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="text-decoration: none">issue ADSs or Ordinary Shares upon the exercise of outstanding warrants; convertible debentures and other outstanding instruments convertible into or exercisable or exchangeable for ADSs or Ordinary Shares; and</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none; letter-spacing: -0.15pt">(5)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="text-decoration: none">issue ADSs or Ordinary Shares in connection with strategic partnering transactions, provided that in the case of this clause (5) the aggregate number of ADSs or Ordinary Shares issued in all such transactions does not
      exceed 10% of either the outstanding ADSs or Ordinary Shares, and provided further that Wainwright receive a signed lock-up agreement for the balance of the Lock-Up Period with respect to any such ADSs or Ordinary Shares so issued.</font></p>
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    during the period when the Prospectus is required (or, but for the provisions of Rule 172, would be required) by applicable law to be delivered (whether to meet the request of purchasers pursuant to Rule 173(d) or otherwise), will file all documents
    required to be filed with the Commission pursuant to the 1934 Act and the 1934 Act Regulations within the time periods required by the 1934 Act and the 1934 Act Regulations.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 5pt; text-align: justify; text-indent: 36pt">(l)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Preparation of Prospectus</u><i>.</i> Immediately following
    the execution of this Agreement, the Company will, subject to Section 3(b) hereof, prepare the Prospectus, which shall contain the selling terms of the Securities, the plan of distribution thereof and such other information as may be required by the
    1933 Act or the 1933 Act Regulations or as Wainwright and the Company may deem appropriate, and if requested by Wainwright, will prepare an Issuer Free Writing Prospectus containing the information set forth in Exhibit D hereto and such other
    information as may be required by Rule 433 or as Wainwright and the Company may deem appropriate, and will file or transmit for filing with the Commission the Prospectus in accordance with the provisions of Rule 430B and in the manner and within the
    time period required by Rule 424(b) (without reliance on Rule 424(b)(8)) and any such Issuer Free Writing Prospectus in the manner and within the time period required by Rule 433.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">(m)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; </font><u>Taxes</u>. The Company will indemnify and hold harmless
    Wainwright against any documentary, stamp or similar issue tax, including any interest and penalties, on the creation, issue and sale of the Securities by the Company and on the execution and delivery of this Agreement or any other documents to be
    furnished hereunder. All payments to be made by the Company hereunder to Wainwright, its affiliates, and its and their officers, directors, employees, partners, agents and members and each Person, if any, who controls Wainwright within the meaning of
    Section 15 of the 1933 Act or Section 20 of the 1934 Act shall be made without withholding or deduction for or on account of any present or future taxes, duties or governmental charges whatsoever unless the Company is compelled by law to deduct or
    withhold such taxes, duties or charges. The Company shall pay such additional amounts as may be necessary in order that the net amounts received by any of such Persons after any tax payment, withholding or deduction shall equal the amounts that would
    have been received if no payment, withholding or deduction had been made.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(n)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Compliance with Israeli Securities Laws</u>. The Company
    acknowledges, understands and agrees that the Securities may be offered and sold in Israel only by Wainwright and only to (i) investors who fall under Section 15A(b)(3) of the Israeli Securities Law or (ii) such Israeli investors listed in the First
    Addendum to the Israeli Securities Law (the &#8220;<u>Addendum</u>&#8221;) and who submit written confirmation to Wainwright and the Company that such investor (1) falls within the scope of the Addendum and (2) is acquiring the Securities for investment for its
    own account or, if applicable, for investment for clients who are investors listed in the Addendum and in any event not as a nominee, market maker or agent and not with a view to, or for the resale in connection with, any distribution thereof.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(o)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Amendments and Supplements to Permitted Section 5(d)
      Communications</u>. If at any time following the distribution of any Permitted Section 5(d) Communication, there occurred or occurs an event or development as a result of which such Permitted Section 5(d) Communication included or would include an
    untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at that subsequent time, not misleading, the Company will promptly
    notify Wainwright and will promptly amend or supplement, at its own expense, such Permitted Section 5(d) Communication to eliminate or correct such untrue statement or omission.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(p)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>No Variable Rate Transactions</u>. From the date hereof
    until the first (1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>) anniversary of the Closing Date, without the prior written consent of Wainwright, which consent may be withheld in Wainwright&#8217;s sole discretion, the Company shall be prohibited from effecting or entering into an
    agreement to effect any issuance by the Company or any of its subsidiaries of Ordinary Shares or ADSs or any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire at any time any Ordinary Shares or ADSs
    (including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Shares or ADSs
    (or a combination of units thereof) involving a Variable Rate Transaction. &#8220;<u>Variable Rate Transaction</u>&#8221; means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or
    exercisable for, or include the right to receive additional Ordinary Shares or ADSs either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the
    Ordinary Shares or ADSs at any time after the initial issuance of such debt or equity securities, or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity
    security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Ordinary Shares or ADSs or (ii) enters into, or effects a transaction under, any agreement, including,
    but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price; <u>provided</u>, <u>however</u>, the Company may effect sales pursuant to an at&#8211;the-market offering facility with Wainwright (as may
    be amendment from time to time). Wainwright shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 10.8pt 0 0 42pt">SECTION 4. <u>Payment of Expenses.</u></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 6pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Expenses</u><i>. </i>The Company will pay all expenses
    incident to the performance of its obligations under this Agreement, including (i) the preparation, printing and filing of the Registration Statement and each amendment thereto (in each case including exhibits) and any costs associated with electronic
    delivery of any of the foregoing, (ii) the word processing and delivery to Wainwright of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Securities, (iii) the
    preparation, issuance and delivery of the certificates for the Securities and the issuance and delivery of the Securities to be sold by the Company to Wainwright, including any stock or other transfer taxes and any stamp or other taxes or duties
    payable in connection with the sale, issuance or delivery of the Securities to Wainwright, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the qualification or exemption of the Securities under
    securities laws in accordance with the provisions of Section 3(f) hereof, including filing fees, (vi) the preparation, printing and delivery to Wainwright of copies of each preliminary prospectus, any Permitted Free Writing Prospectus, any Permitted
    Section 5(d) Communication and the Prospectus and any amendments or supplements to any of the foregoing and any costs associated with electronic delivery of any of the foregoing, (vii) the preparation, printing and delivery to Wainwright of copies of
    the &#8220;Blue Sky Survey&#8221; and any Canadian &#8220;wrapper&#8221; and any supplements thereto and any costs associated with electronic delivery of any of the foregoing, (viii) the fees and expenses of the attorneys-in-fact, the custodian and the transfer agent,
    registrar and Depositary for the Securities, (ix)&#160;the reasonable and documented out-of-pocket costs, fees and expenses of counsel to Wainwright up to an aggregate maximum amount of $75,000 (exclusive of the costs, fees and expenses of counsel to
    Wainwright described in clause (x) above), (x) a management fee to Wainwright equal to 1.0% of the gross proceeds raised by the Company from the sale of the Initial Securities and the Option Securities, if any, (xi) the fees and expenses incurred in
    connection with the listing of the ADSs on the Nasdaq Capital Market, and (xii) the costs and expenses of the Company and any of its officers, directors, counsel or other representatives in connection with presentations or meetings undertaken in
    connection with the offering of the Securities, any Permitted Section 5(d) Communication or any Section 5(d) Oral Communication undertaken in connection with the offering of the Securities, including, without limitation, expenses associated with the
    production of road show slides and graphics and the production and hosting of any electronic road shows, fees and expenses of any consultants engaged in connection with road show presentations, and travel, lodging, transportation, and other expenses of
    the officers, directors, counsel and other representatives of the Company incurred in connection with any such presentations or meetings.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.75pt 0 6pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Termination of Agreement</u><i>. </i>If this Agreement
    is terminated by Wainwright in accordance with the provisions of Section 5, Section 9(a)(i) or 9(a)(iii)(A) hereof, the Company shall promptly reimburse Wainwright for all of its reasonable and documented out-of-pocket expenses (including the
    reasonable fees and disbursements of counsel for Wainwright up to the amount set forth in Section 4(a) above).</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 6pt; text-align: justify; text-indent: 36pt">SECTION 5. <u>Conditions of Wainwright&#8217;s Obligations</u>. The obligations of Wainwright hereunder are subject to the accuracy of the
    representations and warranties of the Company contained in this Agreement, and in certificates signed by any officer of the Company (whether signed on behalf of such officer or the Company) delivered to Wainwright or counsel for Wainwright, to the
    performance by the Company of its covenants and other obligations hereunder, and to the following further conditions:</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 6pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Effectiveness of Registration Statement</u><i>. </i>The
    Initial Registration Statement and any post-effective amendments thereto and any Rule 462(b) Registration Statement, shall have become effective, been declared or become effective, as the case may be, and no stop order suspending the effectiveness of
    the Initial Registration Statement or any Rule 462(b) Registration Statement shall have been issued under the 1933 Act or proceedings therefor initiated or, to the knowledge of the Company, threatened by the Commission, and any request on the part of
    the Commission for additional information shall have been complied with to the reasonable satisfaction of Wainwright. The Prospectus shall have been filed with the Commission in the manner and within the time period required by Rule 424(b) (without
    reliance upon Rule 424(b)(8)) and each Issuer Free Writing Prospectus required to be filed with the Commission shall have been filed in the manner and within the time period required by Rule 433, and, prior to the Closing Date, the Company shall have
    provided evidence satisfactory to Wainwright of such timely filings.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 6pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Opinion of Counsel for Company</u><i>. </i>At the Closing
    Date, Wainwright shall have received the opinion, dated as of Closing Date, (i) of McDermott Will &amp; Emery LLP, counsel for the Company (&#8220;<u>Company Counsel</u>&#8221;), in form and substance satisfactory to Wainwright; and (ii)&#160;of Yigal Arnon &amp; Co.,
    Israeli counsel to the Company, in form and substance satisfactory to Wainwright.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 6pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Opinion of Counsel for Wainwright</u><i>. </i>At the
    Closing Date, Wainwright shall have received the favorable opinion, dated as of Closing Date, of <font style="letter-spacing: -0.3pt">Greenberg Traurig, P.A.</font>, counsel for Wainwright (&#8220;<u>Wainwright&#8217;s Counsel</u>&#8221;), with respect to the
    Securities to be sold by the Company pursuant to this Agreement, the Initial Registration Statement, any Rule 462(b) Registration Statement, the General Disclosure Package and the Prospectus and any amendments or supplements thereto and such other
    matters as Wainwright may reasonably request.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 11.2pt 5.7pt 0 6pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Officers&#8217; Certificate</u><i>. </i>At the Closing Date,
    as the case may be, no event or condition of a type described in Section 1(a)(7) hereof shall have occurred or shall exist, which event or condition is not described in the General Disclosure Package (excluding any amendment or supplement thereto) and
    the Prospectus (excluding any amendment or supplement thereto), since the date hereof or since the respective dates as of which information is given in the Registration Statement, the General Disclosure Package and the Prospectus (in each case
    exclusive of any amendments or supplements thereto subsequent to the date of this Agreement), and, at the Closing Date, Wainwright shall have received a certificate, signed on behalf of the Company by the President or the Chief Executive Officer of the
    Company and the Chief Financial Officer or Chief Accounting Officer of the Company, dated as of Closing Date, to the effect that (i) there has been no such material adverse change, (ii) the representations and warranties of the Company in this
    Agreement are true and correct at and as of the Closing Date with the same force and effect as though expressly made at and as of Closing Date, (iii) the Company has complied with all agreements and satisfied all conditions on its part to be performed
    or satisfied at or prior to Closing Date under or pursuant to this Agreement, and (iv) no stop order suspending the effectiveness of the Registration Statement has been issued and no proceedings for that purpose have been instituted or are pending or,
    to the knowledge of the Company, are contemplated by the Commission.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 6pt; text-align: justify; text-indent: 36pt">(e)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Accountant&#8217;s Comfort Letter</u><i>. </i>At the time of the
    execution of this Agreement, Wainwright shall have received from Kesselman &amp; Kesselman, a member firm of PricewaterhouseCoopers International Limited, a letter, dated the date of this Agreement and in form and substance reasonably satisfactory to
    Wainwright, containing statements and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information of the Company contained in the Registration
    Statement, the General Disclosure Package, any Issuer Free Writing Prospectuses (other than any electronic road show) and the Prospectus and any amendments or supplements to any of the foregoing.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 6pt; text-align: justify; text-indent: 36pt">(f)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Bring-down Comfort Letter</u><i>. </i>At the Closing Date,
    Wainwright shall have received from Kesselman &amp; Kesselman, a member firm of PricewaterhouseCoopers International Limited, a letter, dated as of Closing Date and in form and substance satisfactory to Wainwright, to the effect that they reaffirm the
    statements made in the letter furnished pursuant to subsection (f) of this Section, except that the specified date referred to shall be a date not more than three business days prior to the Closing Date.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 5.75pt 0; text-align: justify; text-indent: 36pt">(g)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>[<u>Reserved</u>.]</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 5.75pt 0; text-align: justify; text-indent: 36pt">(h)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>[Reserved]</u><i>.</i></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify; text-indent: 0cm"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 5pt; text-align: justify; text-indent: 36pt">(i)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Lock-up Agreements</u><i>.</i> Prior to the date of this
    Agreement, Wainwright shall have received an agreement substantially in the form of Exhibit C hereto signed by each of the persons listed in Exhibit B hereto.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(j)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>[Reserved]</u>.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 5pt; text-align: justify; text-indent: 36pt">(k)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Conditions to Purchase of Option Securities</u><i>.
    </i>In the event that Wainwright exercises its option provided in Section 2(b) hereof to purchase all or any portion of the Option Securities on any Option Closing Date that is after the Closing Date, the obligations of Wainwright to purchase the
    applicable Option Securities shall be subject to the conditions specified in the introductory paragraph of this Section 5 and to the further condition that, at the applicable Option Closing Date, Wainwright shall have received:</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">&#160;(1)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Opinion of Counsel for Company</u>. The favorable opinion
    of (i) Company Counsel and of the (ii) Israeli counsel to the Company named in Section 5(b) hereof, each in form and substance satisfactory to Wainwright and dated such Option Closing Date, relating to the Option Securities to be purchased on such
    Option Closing Date and otherwise to the same effect as the respective opinions required by Section 5(b) hereof.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 41pt; text-align: justify; text-indent: 36pt">&#160;(2)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Opinion of Counsel for Wainwright</u>. The favorable
    opinion of Wainwright&#8217;s Counsel, in form and substance satisfactory to Wainwright and dated such Option Closing Date, relating to the Option Securities to be purchased on such Option Closing Date and otherwise to the same effect as the opinion required
    by Section 5(c) hereof.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 36pt">&#160;(3)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Officers&#8217; Certificate</u>. A certificate, dated such Option
    Closing Date, to the effect set forth in, and signed on behalf of the Company by the officers specified in, Section 5(e) hereof, except that the references in such certificate to the Closing Date shall be changed to refer to such Option Closing Date.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 41pt; text-align: justify; text-indent: 36pt">&#160;(4)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Bring-down Comfort Letter</u>. A letter from Kesselman
    &amp; Kesselman, a member firm of PricewaterhouseCoopers International Limited, in form and substance satisfactory to Wainwright and dated such Option Closing Date, substantially in the same form and substance as the letter furnished to Wainwright
    pursuant to Section 5(g) hereof, except that the specified date in the letter furnished pursuant to this paragraph shall be a date not more than three business days prior to such Option Closing Date, and except that such letter shall also cover any
    amendments or supplements to the Registration Statement, any Issuer Free Writing Prospectus (other than any electronic road show) and the Prospectus subsequent to the Closing Date.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41pt; text-align: justify; text-indent: 36pt">&#160;(5)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>[<u>Reserved</u>.]</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(m)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; &#160;&#160; &#160;&#160; </font><u>Deposit Agreement</u>. The Deposit Agreement shall be in
    full force and effect and the Company and the Depositary shall have taken all action necessary to permit the deposit of the Ordinary Shares and the issuance of the Securities in accordance with the Deposit Agreement.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">(n)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Depositary Certificate</u>. The Depositary shall have
    furnished or caused to be furnished to Wainwright a certificate satisfactory to Wainwright of one of its authorized officers evidencing the deposit with the custodian of the Ordinary Shares against issuance of the Securities, the execution, issuance,
    countersignature (if applicable) and delivery of the Securities pursuant to the Deposit Agreement and such other matters related thereto as Wainwright reasonably requests.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5.05pt; text-align: justify; text-indent: 36pt">(o)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Additional Documents</u><i>.</i> At the Closing Date and
    each Option Closing Date, counsel for Wainwright shall have been furnished with such documents as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to
    evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement, or as Wainwright or counsel for Wainwright may otherwise reasonably request; and all proceedings taken by the
    Company in connection with the issuance and sale of the Securities as herein contemplated and in connection with the other transactions contemplated by this Agreement shall be satisfactory in form and substance to Wainwright.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">(p)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Termination of Agreement</u><i>. </i>If any condition
    specified in this Section 5 shall not have been fulfilled when and as required to be fulfilled, this Agreement, or, in the case of any condition to the purchase of Option Securities on an Option Closing Date which is after the Closing Date, the
    obligations of Wainwright to purchase the relevant Option Securities on such Option Closing Date, may be terminated by Wainwright by notice to the Company at any time on or prior to the Closing Date or such Option Closing Date, as the case may be, and
    such termination shall be without liability of any party to any other party except as provided in Section 4 hereof and except that, in the case of any such termination of this Agreement, Sections 1, 4, 6, 7, 8, 11, 12, 13, 14, 15, 17, 18, 19, 20, 21,
    22, 23 and 24 hereof shall survive such termination of this Agreement and remain in full force and effect.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">SECTION 6. <u>Indemnification.</u></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 5pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Indemnification by the Company</u><i>. </i>The Company
    agrees to indemnify and hold harmless Wainwright, its affiliates and its partners, members, directors, officers, employees and agents, and each <font style="letter-spacing: -0.6pt">P</font>erson, if any, who controls Wainwright or any such affiliate
    within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows:</p>
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  <!-- Field: CloseElements -->
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      loss, liability, claim, damage and expense whatsoever, as incurred, jointly or severally, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment
      thereto), or any omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact
      included in any preliminary prospectus, any Issuer Free Writing Prospectus, any Marketing Material, any Section 5(d) Written Communication, the General Disclosure Package or the Prospectus (or any amendment or supplement to any of the foregoing), or
      any &#8220;issuer information&#8221; (as defined in Rule 433), or any &#8220;road show&#8221; (as defined in Rule 433) that does not constitute an Issuer Free Writing Prospectus, or any omission or alleged omission therefrom of a material fact necessary in order to make the
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      loss, liability, claim, damage and expense whatsoever, as incurred, jointly or severally, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any Governmental Authority, commenced or
      threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section 6(d) below) any such settlement is effected with the written consent of the
      Company, which consent shall not unreasonably be delayed or withheld; and</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 41.05pt; text-align: justify; text-indent: 36pt"><font style="text-decoration: none">(iii)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; </font>against any and all
      expense whatsoever, as incurred (including the reasonable fees and disbursements of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any </font>Governmental
    Authority, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission (whether or not a party), to the extent that any such expense is not paid under (i) or <font style="text-decoration: none; letter-spacing: -0.05pt">(ii)<font style="font-family: Times New Roman, Times, Serif">&#160; </font></font><font style="text-decoration: none">above,</font></p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify"><u>provided</u>, <u>however</u>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
    any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with the Wainwright Information (as defined below).</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 5pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Indemnification by Wainwright</u>. Wainwright agrees to
    indemnify and hold harmless the Company, and its directors, each officer of the Company who signed the Registration Statement and each Person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934
    Act, against any and all loss, liability, claim, damage and expense described in the indemnity contained in Section 6(a), as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the
    Registration Statement (or any amendment thereto), or in any preliminary prospectus, any Issuer Free Writing Prospectus, any Marketing Material, any Section 5(d) Written Communication, the General Disclosure Package or the Prospectus (or any amendment
    or supplement to any of the foregoing) in reliance upon and in conformity with information relating to Wainwright and furnished to the Company in writing by Wainwright expressly for use therein. The Company hereby acknowledges that the only information
    that Wainwright has furnished to the Company expressly for use in any preliminary prospectus, any Issuer Free Writing Prospectus, any Marketing Material, any Section 5(d) Written Communication, the General Disclosure Package or the Prospectus (or any
    amendment or supplement to any of the foregoing) are the following statements set forth under the caption &#8220;Underwriting&#8221; in the Pre-Pricing Prospectus and the Prospectus: the sixth paragraph and the statements under the caption &#8220;Price Stabilization,
    Short Positions and Penalty Bids&#8221; (the &#8220;<u>Wainwright Information</u>&#8221;).</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Actions Against Parties; Notification</u><i>. </i>Any
    party that proposes to assert the right to be indemnified under this Section 6 will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim may be made against an indemnifying party or parties
    under this Section 6, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability
    that it might have to any indemnified party otherwise than under this Section 6 and (ii) any liability that it may have to any indemnified party under the foregoing provision of this Section 6 unless, and only to the extent that, such omission results
    in the forfeiture of substantive rights or defenses by the indemnifying party. The indemnifying party shall be entitled to assume the defense of any proceeding brought by a third party for which indemnification could be sought hereunder, with counsel
    reasonably satisfactory to the indemnified party and shall pay the reasonable fees and expenses of such counsel related to such proceeding, as incurred. After notice from the indemnifying party to the indemnified party of its election to assume the
    defense, the indemnifying party will not be liable to the indemnified party for any other legal expenses except as provided below. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other
    charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has been advised by counsel that
    there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified
    party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense
    of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable time after receiving notice of the commencement of the action; in each of which cases the reasonable fees, disbursements and other charges of
    counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable
    fees, disbursements and other charges of more than one counsel (in addition to any local counsel) at any one time for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party
    promptly as they are incurred. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified
    party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 6 (whether or not any indemnified party is a party thereto), unless such
    settlement, compromise or consent (1) includes an express and unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation,
    proceeding or claim and (2) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 6pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Settlement Without Consent if Failure to Reimburse</u><i>. </i>No




    indemnifying party shall be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgement for the plaintiff, the indemnifying party agrees to indemnify each
    indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for
    reasonable fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section 6(a)(ii) effected without its written consent if (1) such settlement is entered into more than 60
    days after receipt by such indemnifying party of the aforesaid request,<font style="text-decoration: none; letter-spacing: -0.05pt"> (2)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160; </font></font><font style="text-decoration: none">such
      indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (3) such indemnifying party shall not have reimbursed such indemnified party in accordance with such
      request prior to the date of such settlement.</font> </p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 5.75pt; text-align: justify; text-indent: 36pt">SECTION 7. <u>Contribution</u>. <font style="letter-spacing: -0.15pt">In </font>order to provide for just and equitable contribution
    in circumstances in which the indemnification provided for in the foregoing paragraphs of Section 6 is applicable in accordance with its terms but for any reason is held to be unavailable or insufficient from the Company or Wainwright to hold harmless
    an indemnified party in accordance with the foregoing paragraph of Section 6, the Company and Wainwright will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably
    incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted) to which the Company and Wainwright may be subject in such proportion as shall be appropriate to reflect the relative benefits
    received by the Company on the one hand and Wainwright on the other hand. The relative benefits received by the Company on the one hand and Wainwright on the other hand shall be deemed to be in the same proportion as the total net proceeds from the
    sale of the Securities (before deducting expenses) received by the Company bear to the total compensation received by Wainwright (before deducting expenses) from the sale of the Securities on behalf of the Company. If, but only if, the allocation
    provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the
    relative fault of the Company, on the one hand, and Wainwright, on the other hand, with respect to the statements or omissions that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant
    equitable considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
    fact relates to information supplied by the Company or Wainwright, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and Wainwright agree that it
    would not be just and equitable if contributions pursuant to this Section 7 were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount
    paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 7 shall be deemed to include, for the purpose of this Section 7, any reasonable legal
    or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with Section 6(c) above. Notwithstanding the provisions of this Section 7, Wainwright shall
    <font style="letter-spacing: -0.2pt">not </font>be required to contribute any amount in excess of the underwriting discounts and commissions actually received by it under this Agreement and no Person found guilty of fraudulent misrepresentation
    (within the meaning of Section 11(f) of the 1933 Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 7, any Person who controls a party to this Agreement within the
    meaning of the 1933 Act, any affiliates of such party and any officers, directors, partners, employees or agents of such party or their respective affiliates, will have the same rights to contribution as that party, and each director of the Company and
    each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of
    commencement of any action against such party in respect of which a claim for contribution may be made under this Section 7, will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that
    party or parties from whom contribution may be sought from any other obligation it or they may have under this Section 7 except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the
    party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of 6(c) hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent
    is required pursuant to Section 6(c) above.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">SECTION 8. <u>Representations, Warranties and Agreements to Survive Delivery. </u>All representations, warranties and agreements
    contained in this Agreement or in certificates signed by any officer of the Company (whether signed on behalf of such officer or the Company) and delivered to Wainwright or counsel to Wainwright, shall remain operative and in full force and effect,
    regardless of any investigation made by or on behalf of Wainwright, any officer, director, employee, partner, member or agent of Wainwright or any Person controlling Wainwright, or by or on behalf of the Company, any officer, director or employee of
    the Company or any Person controlling the Company and shall survive delivery of and payment for the Securities.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">SECTION 9. <u>Termination of Agreement.</u></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Termination; General</u><i>. </i>Wainwright may terminate
    this Agreement, by notice to the Company, at any time on or prior to Closing Date (and, if any Option Securities are to be purchased on an Option Closing Date which occurs after the Closing Date, Wainwright may terminate its obligations to purchase
    such Option Securities, by notice to the Company at any time on or prior to such Option Closing Date) (i) if there has been, at any time on or after the date of this Agreement or since the respective dates as of which information is given in the
    General Disclosure Package or the Prospectus (in each case exclusive of any amendments or supplements thereto subsequent to the date of this Agreement), any material adverse change or any development that could reasonably be expected to result in a
    material adverse change, in the condition (financial or other), results of operations, business, properties, management or prospects of the Company and the Subsidiary considered as one enterprise, whether or not arising in the ordinary course of
    business, or (ii) if there has occurred any material adverse change in the financial markets in the United States, Israel or the international financial markets, any declaration of a national emergency or war by the United States or Israel, any
    outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions (including, without limitation, as a result
    of terrorist activities), in each case the effect of which is such as to make it, in the sole judgment of Wainwright, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or (iii) if (A) trading
    in any securities of the Company has been suspended or materially limited by the Commission or the Nasdaq Capital Market, or (B) trading generally on the New York Stock Exchange, the Nasdaq Stock Market LLC or the Tel Aviv Stock Exchange has been
    suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, FINRA or any other governmental authority, or (C) a material
    disruption has occurred in commercial banking or securities settlement or clearance services in the United States, Israel or Europe or (iv) if a banking moratorium has been declared by either Federal or New York authorities.</p>
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  <p style="margin: 0px 5.85pt 0px 0px; line-height: normal; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-align: justify; text-indent: 36pt;">(b)<font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Liabilities</u><i>. </i>If this Agreement is terminated pursuant to this Section 9, such termination shall be without liability of any party to any other party except as provided in Section 4 hereof
    and except that Sections 1, 4, 6, 7, 8, 11, 12, 13, 14, 15, 17, 18, 19, 20, 21, 22, 23 and 24 hereof shall survive such termination and remain in full force and effect.</p>
  <p style="margin: 0px 5.75pt 0px 6pt; line-height: normal; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-align: justify; text-indent: 36pt;"> <br>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5.95pt; text-align: justify; text-indent: 36pt">SECTION 11. <u>Notices</u>. All notices and other communications hereunder shall be in writing, shall be effective only upon receipt
    and shall be mailed, delivered by hand or overnight courier, or transmitted by fax (with the receipt of such fax to be confirmed by telephone). Notices to Wainwright shall be directed to H.C. Wainwright &amp; Co., LLC, Attention: Head of Investment
    Banking, e-mail: notices@hcwco.com, with a copy (which shall not constitute notice) to <font style="letter-spacing: -0.2pt">Greenberg Traurig, P.A. 333 S.E. 2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup> Avenue, Suite 4400, Miami, Florida 33131 </font>Attention: Drew M. Altman,
    e-mail: altmand@gtlaw.com; notices to the Company shall be directed to it at 2 HaMa&#8217;ayan Street, Modi&#8217;in 7177871, Israel, Attention: Philip Serlin, email: phils@Biolinerx.com with a copy (which shall not constitute notice) to <font style="letter-spacing: -0.2pt">340 Madison Avenue, New York, NY 10173-1922 </font>Attention: Gary Emmanuel, e-mail: gemmanuel@mwe.com.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.65pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 5.65pt 0 5pt; text-align: justify; text-indent: 36pt">SECTION 12. <u>Parties</u>. This Agreement shall inure to the benefit of and be binding upon Wainwright and the Company and their
    respective successors and permitted assigns. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any Person, other than Wainwright and the Company and their respective successors, permitted assigns and the
    controlling Persons and other indemnified parties referred to in Sections 6 and 7 and their respective successors, heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision
    herein contained. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of Wainwright and the Company and their respective successors and permitted assigns, and said controlling Persons and other
    indemnified parties and their successors, heirs and legal representatives, and for the benefit of no other Person. No purchaser of Securities from Wainwright shall be deemed to be a successor by reason merely of such purchase.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">SECTION 13. <u>GOVERNING LAW AND TIME</u>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED <font style="letter-spacing: -0.15pt">IN</font>
    ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN, SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">SECTION 14. <u>Effect of Headings</u>. The Section and Exhibit headings herein are for convenience only and shall not affect the
    construction hereof.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 5pt; text-align: justify; text-indent: 36pt">SECTION 15. <u>Definitions</u>. As used in this Agreement, the following terms have the respective meanings set forth below:</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 6pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>Applicable Time</u>&#8221; means 8:30 p.m. (New York City time) on January 19, 2021 or such other time as agreed by the Company and
    Wainwright.</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">&#160;&#8220;<u>Commission</u>&#8221; means the Securities and Exchange Commission.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>Company Documents</u>&#8221; means (i) all Subject Instruments and (ii) all other contracts, indentures, mortgages, deeds of trust, loan or
    credit agreements, bonds, notes, debentures, evidences of indebtedness, swap agreements, hedging agreements, leases or other instruments or agreements to which the Company is a party or by which the Company is bound or to which any of the property or
    assets of the Company is subject, other than Organizational Documents.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">&#160;&#8220;<u>DTC</u>&#8221; means The Depository Trust Company.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 6.05pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>EDGAR</u>&#8221; means the Commission&#8217;s Electronic Data Gathering, Analysis and Retrieval System.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>Existing Warrants</u>&#8221; means any warrants to purchase Ordinary Shares or ADSs outstanding on the date of this Agreement.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>FCPA</u>&#8221; means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>FINRA</u>&#8221; means the Financial Industry Regulatory Authority Inc.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 42pt">&#160;&#8220;<u>Governmental Authority</u>&#8221; means (i) any federal, provincial, state, local, municipal,</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 6pt; text-align: justify">national or international government or governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau,
    agency or instrumentality, court, tribunal, arbitrator or arbitral body (public or private); (ii) any self-regulatory organization; or (iii)&#160;any political subdivision of any of the foregoing.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 6pt; text-align: justify; text-indent: 36pt">&#160;&#8220;<u>Initial Registration Statement</u>&#8221; means the Company&#8217;s registration statement on Form F-3 (Registration No. 333-251857), including
    the documents incorporated or deemed to be incorporated by reference therein pursuant to Item 6 of Form F-3 under the 1933 Act and the Rule 430B Information; provided that any Rule 430B Information shall be deemed to be part of the Initial Registration
    Statement only from and after the time such information is deemed, pursuant to Rule 430B, to be part of the Initial Registration Statement.</p>
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    acquire at any time Ordinary Shares or ADSs, including, without limitation, any debt, preferred share, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder
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    organizational document; (b) in the case of a limited or general partnership, its partnership certificate, certificate of formation or similar organizational document and its partnership agreement; (c) in the case of a limited liability company, its
    articles of organization, certificate of formation or similar organizational documents and its operating agreement, limited liability company agreement, membership agreement or other similar agreement; (d) in the case of a trust, its certificate of
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    the holder of any bond, note, debenture or other evidence of indebtedness (or any Person acting on such holder&#8217;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or the
    Subsidiary, or (ii) gives any counterparty (or any Person acting on such counterparty&#8217;s behalf) under any swap agreement, hedging agreement or similar agreement or instrument to which the Company or the Subsidiary is a party the right to liquidate or
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    supplement to any of the foregoing filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) that was omitted from the Initial Registration Statement at the time it first became effective but is deemed to be part of and included in the Initial Registration
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    1933 Act and the 1934 Act, including pursuant to Section 13(a) or 15(d) thereof, for the one year preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material), including the exhibits thereto
    and documents incorporated by reference therein, together with the Registration Statement, the General Disclosure Package and the Prospectus.</p>
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    made in reliance on Section 5(d) of the 1933 Act by the Company or any Person authorized to act on behalf of the Company to one or more potential investors that are QIBs and/or one or more IAIs, as such terms are respectively defined in Rule 144A and
    Rule 501(a) under the 1933 Act, to determine whether such investors might have an interest in the offering of the Securities;</p>
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    reference as exhibits to the Registration Statement; provided that if any instrument, agreement or other document filed or incorporated by reference as an exhibit to the Registration Statement as aforesaid has been redacted or if any portion thereof
    has been deleted or is otherwise not included as part of such exhibit (whether pursuant to a request for confidential treatment or otherwise), the term &#8220;Subject Instruments&#8221; shall nonetheless mean such instrument, agreement or other document, as the
    case may be, in its entirety, including any portions thereof which shall have been so redacted, deleted or otherwise not filed.</p>
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    preliminary prospectus, the Prospectus, any Issuer Free Writing Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the version thereof filed with the Commission pursuant to EDGAR and all versions thereof
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    financial statements and schedules and other information which are incorporated by reference in or otherwise deemed by 1933 Act Regulations to be a part of or included in the Registration Statement, the Initial Registration Statement, any Rule 462(b)
    Registration Statement, any preliminary prospectus or the Prospectus, as the case may be; and all references in this Agreement to amendments or supplements to the Initial Registration Statement, any preliminary prospectus or the Prospectus shall be
    deemed to mean and include the filing of any document under the 1934 Act which is incorporated by reference in or otherwise deemed by 1933 Act Regulations to be a part of or included in the Registration Statement, the Initial Registration Statement,
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    it obtains the prior written consent of Wainwright, it will not make, any offer relating to the Securities that constitutes or would constitute an &#8220;issuer free writing prospectus&#8221; (as defined in Rule 433) or that otherwise constitutes or would
    constitute a &#8220;free writing prospectus&#8221; (as defined in Rule 405) or portion thereof required to be filed with the Commission or required to be retained by the Company pursuant to Rule 433; provided that the prior written consent of Wainwright shall be
    deemed to have been given in respect of the Issuer General Use Free Writing Prospectuses, if any, listed on Exhibit E hereto and, to any electronic road show in the form previously provided by the Company to and approved by Wainwright. Any such free
    writing prospectus consented to or deemed to have been consented to as aforesaid is hereinafter referred to as a &#8220;<u>Permitted Free Writing Prospectus</u>.&#8221; The Company represents, warrants and agrees that it has treated and will treat each Permitted
    Free Writing Prospectus as an &#8220;issuer free writing prospectus&#8221; (as defined in Rule 433), and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission
    where required, legending and record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in Exhibit E hereto are Permitted Free Writing Prospectuses.</p>
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    recommendations and/or publish research reports with respect to the Company and/or the offering that differ from the views of its investment banking division. The Company hereby waives and releases, to the fullest extent permitted by applicable law,
    any claims that the Company may have against Wainwright with respect to any conflict of interest that may arise from the fact that the views expressed by <font style="letter-spacing: -0.5pt">its</font> research analysts and research department may be
    different from or inconsistent with the views or advice communicated to the Company by Wainwright&#8217;s investment banking division. The Company acknowledges that Wainwright is a full service securities firm and as such from time to time, subject to
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    shareholders and affiliates) and Wainwright hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions
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    court located in the Borough of Manhattan, the City and County of New York in any action, suit or proceeding arising out of or relating to or based upon this Agreement or any of the transactions contemplated hereby, and irrevocably and unconditionally
    waives any objection to the laying of venue of any such action, suit or proceeding in any such court and agrees not to plead or claim in any such court that any such action, suit or proceeding has been brought in an inconvenient forum. The Company
    represents and warrants that it has appointed Puglisi &amp; Associate as its authorized agent (the &#8220;<u>Authorized Agent</u>&#8221;) in the Borough of Manhattan, the City and County of New York upon which process may be served in any such action, suit or
    proceeding pursuant to a written agreement, further represents and warrants that the Authorized Agent has agreed to act as such agent for service of process, and agrees that service of process upon such Authorized Agent, and written notice of said
    service to the Company as provided in this Agreement shall be deemed in every respect effective service of process upon the Company in any such action, suit or proceeding, and agrees to take any and all such action as may be necessary to maintain such
    designation and appointment of such Authorized Agent in full force and effect for a period of seven years from the date of this Agreement.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.5pt 0 5.95pt; text-align: justify; text-indent: 36pt">SECTION 21. <u>Waiver of Immunity</u>. With respect to any action, suit or proceeding arising out of or relating to or based upon this
    Agreement or any of the transactions contemplated hereby, the Company irrevocably waives, to the fullest extent permitted by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, service of process,
    attachment (both before and after judgment) and execution to which it would otherwise be entitled, and with respect to any such action, suit or proceeding, waives any such immunity in any court of competent jurisdiction, and agrees not to raise or
    claim or cause to be pleaded any such immunity at or in respect of any such action, suit or proceeding, including, without limitation, any immunity pursuant to the U.S. Foreign Sovereign Immunities Act of 1976, as amended.</p>
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    only to the extent that) Wainwright may in accordance with normal banking procedures purchase U.S. dollars with the Judgment Currency; if the U.S. dollars so purchased are less than the sum originally due to Wainwright hereunder, the Company agrees, as
    a separate obligation and notwithstanding any such judgment, to indemnify Wainwright against such loss in respect of any sum due to Wainwright from the Company. If the U.S. dollars so purchased are greater than the sum originally due to Wainwright
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    Agreement shall not affect the validity or enforceability of any other section, paragraph or provision hereof. If any section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed
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    all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. Notwithstanding anything herein to the contrary, the engagement agreement dated January 14, 2021, between the
    Company and Wainwright, shall continue to be effective and continue to survive and be enforceable by the parties in accordance with its terms. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the
    same effect as if the signatures thereto and hereto were upon the same instrument. Facsimile and other electronically scanned and transmitted signatures, including by email attachment, shall be deemed originals for all purposes of this Agreement. This
    Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The section headings
    herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement.</p>
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    negotiations regarding the provisions hereof, including, without limitation, the indemnification provisions of Section 6 and the contribution provisions of Section 7, and is fully informed regarding said provisions. Each of the parties hereto further
    acknowledges that the provisions of Section 6 and Section 7 hereof fairly allocate the risks in light of the ability of the parties to investigate the Company, its affairs and its business in order to assure that adequate disclosure has been made in
    the Registration Statement, any preliminary prospectus, the General Disclosure Package, each free writing prospectus and the Prospectus (and any amendments and supplements to the foregoing), as contemplated by the 1933 Act and the 1934 Act.</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 3.7pt 42.85pt 0 5pt; text-align: justify; text-indent: 36pt">If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Company a counterpart
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            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">Very truly yours,</p>
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            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;"><b>BIOLINERX LTD.</b></p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">&#160;</p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">By: <u>/s/ Philip Serlin </u></p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px; margin-left: 18pt;">Name: Philip Serlin</p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px; margin-left: 18pt;">Title: Chief Executive Officer</p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">&#160;</p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;"><b>ACCEPTED as of the date</b></p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;"><b>first-above written:</b></p>
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            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;"><b>H.C. WAINWRIGHT &amp; CO., LLC</b></p>
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            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">By: <u>/s/ Mark W Viklund </u></p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px; margin-left: 18pt;">Name: Mark W Viklund</p>
            <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px; margin-left: 18pt;">Title: Chief Executive Officer</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 10.5pt 105.5pt 0 105.4pt; text-align: center">EXHIBIT A</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><br>
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        <td valign="bottom" style="font-size: 10pt; text-align: center; width: 10%;"><u>ADSs</u></td>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 105.5pt 0 105.45pt; text-align: center">LIST OF PERSONS SUBJECT TO LOCK-UP</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Philip A. Serlin</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 146.8pt; text-align: center">FORM OF LOCK-UP AGREEMENT</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 4.6pt 5.75pt 0 0; text-align: right; text-indent: 22.05pt">______ , 2021</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 11.9pt 4.95pt 0 5.95pt">The foregoing will not apply to the registration of the offer and sale of the offered ADSs, and the sale of the offered ADSs to Wainwright, in each case as contemplated
    by the Underwriting Agreement. In addition, the foregoing restrictions shall not apply to (i) if the undersigned is an individual, dispositions solely in connection with the &#8220;cashless&#8221; exercise of stock options (the term &#8220;cashless&#8221; exercise being
    intended to include the sale or disposition of a portion of the option shares or previously owned shares to the Company to cover payment of the exercise price) for the purpose of exercising such stock options (including sales in respect of tax
    liabilities arising from such exercise and sale), provided that any Ordinary Shares, ADSs or other capital stock received upon such exercise shall be subject to all of the restrictions set forth herein, (ii) ADSs, Ordinary Shares or Related Securities
    acquired in open market transactions after the completion of the Offering, provided that prior to the expiration of the Lock-up Period, no public disclosure or filing under the Exchange Act shall be required, or made voluntarily, reporting a reduction
    in beneficial ownership of ADSs, Ordinary Shares or Related Securities in connection with any transfer of such ADSs, Ordinary Shares or Related Securities, (iii) following completion of the Offering, transfers pursuant to a bona fide third-party tender
    offer, merger, consolidation or other similar transaction made to all holders of the Company&#8217;s capital stock involving a change of control of the Company, provided that (A) Wainwright receives a signed letter agreement from the recipient of such ADSs,
    Ordinary Shares or other Related Securities, in the form hereof, for the balance of the Lock-Up Period with respect to any such ADSs, Ordinary Shares or other Related Securities, (B) in the event that after such tender offer, merger, consolidation or
    other similar transaction, any ADSs, Ordinary Shares or other Related Securities are not transferred, sold or tendered, such ADSs, Ordinary Shares or other Related Securities held by the undersigned shall remain subject to the provisions hereof, and
    (C) in the event that such tender offer, merger, consolidation or other such transaction is not completed, the ADSs, Ordinary Shares or other Related Securities held by the undersigned shall remain subject to the provisions hereof, (iv) if the
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    Rule 405 promulgated under the Securities Act) of the undersigned or (B) to a shareholder, partner, member or other equity holder, as the case may be, of such corporation, partnership, limited liability company or other business entity if, in any such
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    undersigned and/or one or more Family Members, and (vii) by operation of law pursuant to a domestic order, negotiated divorce settlement or other court order; <i>provided, however</i>, that in the cases of clauses (iv), (v), (vi) and (vii), it shall
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    or exercise of any securities or other rights that are settled by or are convertible or exercisable into ADSs, Ordinary Shares or Related Securities in accordance with their terms; provided that such ADSs, Ordinary Shares or Related Securities
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    reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale of the ADSs. The undersigned will not, and will cause any Family Member not to take, directly or
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 4.95pt 0 5pt">Whether or not the Offering occurs as currently contemplated or at all depends on market conditions and other factors. The Offering will only be made pursuant to the Underwriting
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 7.1pt 0 5pt">For purposes of the letter agreement to which this Annex A is attached and of which it is made a part:</p>
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        <td style="text-align: left; padding-right: 10.7pt"><font style="text-decoration: none">&#8220;<b>Family Member</b>&#8221; shall mean the spouse of the undersigned, an immediate family member of the undersigned or an immediate family member of the
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><font style="text-decoration: none">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.1pt 0 5pt">Capitalized terms not defined in this Annex A shall have the meanings given to them in the body of this letter agreement.</p>
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  </div>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 3.7pt; margin-bottom: 0px; text-align: center;">EXHIBIT D</p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0.45pt; margin-bottom: 0px;"><font style="text-decoration: none;">&#160;</font></p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px; text-align: center;">PRICE-RELATED INFORMATION</p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;"><font style="text-decoration: none;">&#160;</font></p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0.05pt; margin-bottom: 0px;">Number of ADSs being offered: 14,375,000 (inclusive of 1,875,000 ADSs issuable pursuant to Wainwright&#8217;s option to purchase additional ADSs)</p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0.5pt; margin-bottom: 0px;"><font style="text-decoration: none;">&#160;</font></p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 0px;">Public offering price per ADS: $2.40</p>
  <p style="font: 10pt Times New Roman,Times,serif; margin-top: 9.65pt; margin-bottom: 0px;">Settlement date: January 22, 2021<br style="clear: both;">
  </p>
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  <p align="center" style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt;text-align:center"><font style="font-size:10.0pt">EXHIBIT E</font></p>
  <p align="center" style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt;text-align:center"><font style="font-size:10.0pt">ISSUER GENERAL USE FREE WRITING PROSPECTUSES</font></p>
  <font style="font-size:10.0pt">&#160;</font>
  <p style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm;margin-left: 0cm;margin-bottom:.0001pt"><font style="font-size:10.0pt">Free writing prospectus dated January 19, 2021 (Film No.:&#160;21536232<b>)</b></font></p>
  <p style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm;margin-left: 0cm;margin-bottom:.0001pt"><font style="font-size:10.0pt">Free writing prospectus dated January 19, 2021 <br>
    </font></p>
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  <p align="center" style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt;text-align:center"><font style="font-size:10.0pt">EXHIBIT F</font></p>
  <p align="center" style="margin-top:9.65pt;margin-right:0cm;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt;text-align:center"><font style="font-size:10.0pt">PERMITTED SECTION 5(d) COMMUNICATIONS</font></p>
  <font style="font-size:10.0pt">&#160;</font>
  <p style="margin-top:9.65pt;margin-right:1.0pt;margin-bottom:0cm;margin-left: 0cm;margin-bottom:.0001pt"><font style="font-size:10.0pt">None.</font></p>
  <p style="margin-top:9.65pt;margin-right:1.0pt;margin-bottom:0cm;margin-left: 0cm;margin-bottom:.0001pt"><font style="font-size:10.0pt"> <br>
    </font></p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>exhibit_5-1.htm
<DESCRIPTION>OPINION OF YIGAL ARNON & CO.
<TEXT>
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    <div style="text-align: right;"><u><font style="font-weight: bold;">Exhibit 5.1</font></u><br>
    </div>
    <div> <br>
    </div>
    <div>
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        <div style="line-height: 1.25;"><img width="351" height="70" src="image00003.jpg"></div>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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        <table cellspacing="0" cellpadding="0" border="0" id="z441d6a6fa6634428ba4e4ff3fd4cfa97" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25; font-weight: bold;">Yigal Arnon (1929-2014)</div>
                <div style="line-height: 1.25;">Dror Vigdor</div>
                <div style="line-height: 1.25;">Amalia Meshi</div>
                <div style="line-height: 1.25;">Amnon Lorch</div>
                <div style="line-height: 1.25;">Hagai Shmueli</div>
                <div style="line-height: 1.25;">Barry Levenfeld</div>
                <div style="line-height: 1.25;">David H. Schapiro</div>
                <div style="line-height: 1.25;">Hagit Bavly</div>
                <div style="line-height: 1.25;">Orna Sasson</div>
                <div style="line-height: 1.25;">Barak Tal</div>
                <div style="line-height: 1.25;">Shiri Shaham</div>
                <div style="line-height: 1.25;">Doron Tamir</div>
                <div style="line-height: 1.25;">Daniel Abarbanel</div>
                <div style="line-height: 1.25;">David Osborne</div>
                <div style="line-height: 1.25;">Gil Oren</div>
                <div style="line-height: 1.25;">Ronit Amir Yaniv</div>
                <div style="line-height: 1.25;">Orly Tsioni</div>
                <div style="line-height: 1.25;">Mordehai Baicz</div>
                <div style="line-height: 1.25;">Barak Platt</div>
                <div style="line-height: 1.25;">Benjamin Horef</div>
                <div style="line-height: 1.25;">Yoran Gill</div>
                <div style="line-height: 1.25;">Asaf Eylon</div>
                <div style="line-height: 1.25;">Daniel Marcovici</div>
                <div style="line-height: 1.25;">Adrian Daniels</div>
                <div style="line-height: 1.25;">Yuval Shalheveth</div>
                <div style="line-height: 1.25;">Jacob Ben Chitrit</div>
                <div style="line-height: 1.25;">Peter Sugarman</div>
                <div style="line-height: 1.25;">Ben Sandler</div>
                <div style="line-height: 1.25;">Boaz Fiel</div>
                <div style="line-height: 1.25;">Joeri Kreisberg</div>
                <div style="line-height: 1.25;">Simon Weintraub</div>
                <div style="line-height: 1.25;">Ruth Loven</div>
                <div style="line-height: 1.25;">Yarom Romem</div>
                <div style="line-height: 1.25;">Adam Spruch</div>
                <div style="line-height: 1.25;">Yuval Bargil</div>
              </td>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25;">Eliran Furman</div>
                <div style="line-height: 1.25;">Eran Lempert</div>
                <div style="line-height: 1.25;">Ofir Levy<br>
                  Daniel Green</div>
                <div style="line-height: 1.25;">Hanital Belinson</div>
                <div style="line-height: 1.25;">Yoheved Novogroder<br>
                  Oren Roth<br>
                  Dror Varsano</div>
                <div style="line-height: 1.25;">Odelia Sidi</div>
                <div style="line-height: 1.25;">Shira Lahat</div>
                <div style="line-height: 1.25;">Micki Shapira</div>
                <div style="line-height: 1.25;">Eran Zach</div>
                <div style="line-height: 1.25;">Ido Chitman</div>
                <div style="line-height: 1.25;">Aner Hefetz</div>
                <div style="line-height: 1.25;">David Akrish</div>
                <div style="line-height: 1.25;">Nir Rosner</div>
                <div style="line-height: 1.25;">Assaf Mesica</div>
                <div style="line-height: 1.25;">Liron Hacohen</div>
                <div style="line-height: 1.25;">Guy Fuhrer</div>
                <div style="line-height: 1.25;">Ezra Gross</div>
                <div style="line-height: 1.25;">David Roness</div>
                <div style="line-height: 1.25;">Eli Greenbaum</div>
                <div style="line-height: 1.25;">Lee Maor<br>
                  Nimrod Vromen</div>
                <div style="line-height: 1.25;">Guy Sagiv</div>
                <div style="line-height: 1.25;">Shani Rapoport</div>
                <div style="line-height: 1.25;">Lior Gelbard</div>
                <div style="line-height: 1.25;">Keren Tal</div>
                <div style="line-height: 1.25;">Naftali Nir</div>
                <div style="line-height: 1.25;">Yael Hoefler</div>
                <div style="line-height: 1.25;">Sagi Schiff</div>
                <div style="line-height: 1.25;">Netanella Treistman</div>
                <div style="line-height: 1.25;">Daniel Damboritz</div>
                <div style="line-height: 1.25;">Yulia Lazbin</div>
                <div style="line-height: 1.25;">Joshua Lieberman</div>
              </td>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25;">Eyal Aichel</div>
                <div style="line-height: 1.25;">Roy Masuri<br>
                  Avi Anouchi</div>
                <div style="line-height: 1.25;">Sivan Gilron Dotan</div>
                <div style="line-height: 1.25;">Tomer Bar-Nathan</div>
                <div style="line-height: 1.25;">Edan Regev</div>
                <div style="line-height: 1.25;">Gitit Ramot-Adler</div>
                <div style="line-height: 1.25;">Guy Kortany</div>
                <div style="line-height: 1.25;">Goor Koren<br>
                  Roey Sasson</div>
                <div style="line-height: 1.25;">Nir Rodnizky</div>
                <div style="line-height: 1.25;">Michal Sagmon</div>
                <div style="line-height: 1.25;">Hila Rot<br>
                  Eran Kadosh</div>
                <div style="line-height: 1.25;">Neta Goshen</div>
                <div style="line-height: 1.25;">Chen Lanir</div>
                <div style="line-height: 1.25;">Daphna Livneh</div>
                <div style="line-height: 1.25;">Tamar Gilboa<br>
                  Adi Samuel</div>
                <div style="line-height: 1.25;">Alona Toledano<br>
                  Elad Offek</div>
                <div style="line-height: 1.25;">Yuval Shamir</div>
                <div style="line-height: 1.25;">Lihi Katzenelson<br>
                  Inbar Hakimian-Nahari</div>
                <div style="line-height: 1.25;">Shahar Uziely</div>
                <div style="line-height: 1.25;">Yehudit Biton</div>
                <div style="line-height: 1.25;">Omri Schnaider</div>
                <div style="line-height: 1.25;">Rinat Michael</div>
                <div style="line-height: 1.25;">Adi Attar</div>
                <div style="line-height: 1.25;">Daniella Milner</div>
                <div style="line-height: 1.25;">Amos Oseasohn</div>
                <div style="line-height: 1.25;">Ofir Paz</div>
                <div style="line-height: 1.25;">Adi Daniel</div>
                <div style="line-height: 1.25;">Dafna Shaham</div>
                <div style="line-height: 1.25;">Miriam Friedmann</div>
              </td>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25;">Roni Osborne</div>
                <div style="line-height: 1.25;">Shir Eshkol</div>
                <div style="line-height: 1.25;">Noam Shochat</div>
                <div style="line-height: 1.25;">Noa Slavin<br>
                  Michael Horowitz</div>
                <div style="line-height: 1.25;">Guy Fatal<br>
                  Shani Lorch</div>
                <div style="line-height: 1.25;">Itamar Cohen<br>
                  Shai Margalit</div>
                <div style="line-height: 1.25;">Yonatan Whitefield</div>
                <div style="line-height: 1.25;">Moshe Lankry<br>
                  Nir Kamhi</div>
                <div style="line-height: 1.25;">Shira Teger</div>
                <div style="line-height: 1.25;">Rachel Lerman</div>
                <div style="line-height: 1.25;">Ravid Saar</div>
                <div style="line-height: 1.25;">Sophie Blackston</div>
                <div style="line-height: 1.25;">Elad Morgenstern<br>
                  Ron Ashkenazi</div>
                <div style="line-height: 1.25;">Sara Haber</div>
                <div style="line-height: 1.25;">Carmel Nudler</div>
                <div style="line-height: 1.25;">Shmuel Brill</div>
                <div style="margin-right: 0.1pt; line-height: 1.25;">Ben Nachshon</div>
                <div style="line-height: 1.25;">Yehonatan Cohen</div>
                <div style="line-height: 1.25;">David Shmulevitz</div>
                <div style="line-height: 1.25;">Tair Cherbakovsky</div>
                <div style="line-height: 1.25;">Ophir Dagan</div>
                <div style="line-height: 1.25;">Guy Ziv-Shalom</div>
                <div style="line-height: 1.25;">Lior Cohen Goldstein Liad Kalderon</div>
                <div style="line-height: 1.25;">Nataly Damary</div>
                <div style="line-height: 1.25;">Shiran Glitman</div>
                <div style="line-height: 1.25;">Dani Weissberg</div>
                <div style="line-height: 1.25;">Lareine Khoury</div>
                <div style="line-height: 1.25;">Nohar Hadar</div>
                <div style="line-height: 1.25;">Nitzan Kahana</div>
              </td>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25;">Tali Har-Oz</div>
                <div style="line-height: 1.25;">Tal Alon</div>
                <div style="line-height: 1.25;">Ohad&#160; Sarusi</div>
                <div style="line-height: 1.25;">Mor Ido</div>
                <div style="line-height: 1.25;">Nechemia Englman</div>
                <div style="line-height: 1.25;">Tomer Tako<br>
                  Natalie Korenfeld</div>
                <div style="line-height: 1.25;">Moshe Pasker</div>
                <div style="line-height: 1.25;">Mazi Ohayon</div>
                <div style="line-height: 1.25;">Nitzan Fisher-Conforti</div>
                <div style="line-height: 1.25;">Victoria Savu</div>
                <div style="line-height: 1.25;">Derora Tropp</div>
                <div style="line-height: 1.25;">Hila Amiel</div>
                <div style="line-height: 1.25;">Chaim Cohen</div>
                <div style="line-height: 1.25;">Michal Mor</div>
                <div style="line-height: 1.25;">Daniel Siso</div>
                <div style="line-height: 1.25;">Maytal Spivak</div>
                <div style="line-height: 1.25;">Avraham Schoen</div>
                <div style="line-height: 1.25;">Elan Loshinsky</div>
                <div style="line-height: 1.25;">Ariel Even</div>
                <div style="line-height: 1.25;">Josh Hauser</div>
                <div style="line-height: 1.25;">Eitan Cohen</div>
                <div style="line-height: 1.25;">Itai Guttel</div>
                <div style="line-height: 1.25;">Dror Kanarik Sarig</div>
                <div style="line-height: 1.25;">Royi Heilig</div>
                <div style="line-height: 1.25;">Maor Alev</div>
                <div style="line-height: 1.25;">Tamar Drori</div>
                <div style="line-height: 1.25;">Vered Glaubach</div>
                <div style="line-height: 1.25;">Yair Taitelbaum</div>
                <div style="line-height: 1.25;">Gabi Priel</div>
                <div style="line-height: 1.25;">Regina Pevzner<br>
                  Sophy Litvin</div>
                <div style="line-height: 1.25;">Igal Lavi</div>
                <div style="line-height: 1.25;">Maor Layani</div>
                <div style="line-height: 1.25;">Areen Nashef</div>
              </td>
              <td style="width: 16%; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
                <div style="line-height: 1.25;">David Chesterman</div>
                <div style="line-height: 1.25;">Ido Zahavi</div>
                <div style="line-height: 1.25;">Guy Yarom</div>
                <div style="line-height: 1.25;">Danielle Berkowicz</div>
                <div style="line-height: 1.25;">Inbar Rosenthal</div>
                <div style="line-height: 1.25;">Hadar Stein</div>
                <div style="line-height: 1.25;">Dan Shimon</div>
                <div style="line-height: 1.25;">Avital Salzman</div>
                <div style="line-height: 1.25;">Rotem Cohen</div>
                <div style="line-height: 1.25;">Idan Adar</div>
                <div style="line-height: 1.25;">Shahar Iluz</div>
                <div style="line-height: 1.25;">Itay Ashkenazi</div>
                <div style="line-height: 1.25;">Roei Brizel</div>
                <div style="line-height: 1.25;">Ido Sella</div>
                <div style="line-height: 1.25;">Evyatar Latz</div>
                <div style="line-height: 1.25;">Hadil Nassif Khawand<br>
                  Maayan Malka Rublin</div>
                <div style="line-height: 1.25;">Ran Aziel</div>
                <div style="line-height: 1.25;">Dima Trostianesky</div>
                <div style="line-height: 1.25;">Stav Orenstein</div>
                <div style="line-height: 1.25;">Avia Ickovics</div>
                <div style="line-height: 1.25;">Liron Soffer</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">___________________</font></div>
                <div style="line-height: 1.25;">Gidon Weinstock Of Counsel</div>
                <div style="line-height: 1.25;">Roy Keidar Of Counsel</div>
                <div style="line-height: 1.25;"><u>Tamar Tavory Of Counsel</u></div>
                <div style="line-height: 1.25;">Paul H. Baris (1934-2010)</div>
                <div style="line-height: 1.25;">Rami Kook</div>
                <div style="line-height: 1.25;">Nira Kuritzky</div>
                <div style="line-height: 1.25;">Eran Ilan</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div style="text-align: center; margin-right: 14.05pt; line-height: 1.25;">Tel Aviv | January 21, 2021</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="margin-right: 14.4pt; line-height: 1.25;">BioLineRx Ltd.</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">2 Hamayan Street</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">Modi&#8217;in Technology Park</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">Modi&#8217;in 7177871</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">Israel</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">&#160;</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="margin-right: 14.4pt; line-height: 1.25;">Dear Sir and Madam:</div>
        <div style="margin-right: 14.4pt; line-height: 1.25;">&#160;</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We have acted as Israeli counsel to BiolineRX, Ltd., (the &#8220;Company&#8221;) &#160;in connection with (i) the issuance and sale of an aggregate of 14,375,000&#160; American Depositary Shares (the &#8220;Public Offering Securities&#8221;), each representing fifteen ordinary shares, NIS 0.10 par value per
            share, of the Company (which includes 1,875,000 American Depository Shares issued pursuant to the exercise by the Underwriter (as defined below) of its option to purchase additional American Depository Shares)&#160; pursuant to the terms of an
            Amended and Restated Underwriting Agreement dated January 19, 2021 (the &#8220;Underwriting Agreement&#8221;) by and between the Company and H.C. Wainwright &amp; Co., LLC (the &#8220;Underwriter&#8221;).&#160;  The Public Offering Securities will be issued
          pursuant to a registration statement on Form F-3 (Registration Statement No. 333-251857) (the &#8220;Registration Statement&#8221;) filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the
          &#8220;Securities Act&#8221;), and the prospectus supplement dated January 19, 2021, filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations of the Securities Act.</div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">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.</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="margin-right: 14.4pt; line-height: 1.25;">&#160;</div>
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      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Based on the foregoing, we advise you that in our opinion the ordinary shares underlying the Public Offering Securities to be sold to the Underwriters as described in the Registration Statement and the Prospectus Supplement, have been duly authorized and have been, or upon
            delivery of the Public Offering Securities and payment therefor in accordance with the Underwriting Agreement, will be, validly issued, fully paid and non-assessable.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">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.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We hereby consent to the use of this opinion as Exhibit 5.1 to the Company&#8217;s Report on Form 6-K to be filed with
          the Commission on January 21, 2021, which will be incorporated by reference in the Registration Statement, and to the reference to us under the caption &#8220;Legal Matters&#8221; in the prospectus included in the Registration Statement.&#160;&#160;In giving such
          consent, we do not hereby admit that we are in the category of persons whose consent is required under Section&#160;7 of the Securities Act or the rules and regulations of the Commission thereunder.</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-indent: 36pt; margin-right: 14.4pt; line-height: 1.25;">&#160;</div>
      </div>
      <table cellspacing="0" cellpadding="0" id="zdfbf5ca75cdc4a389d8f756a689fa6a4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="margin-right: 14.4pt; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="margin-right: 14.4pt; line-height: 1.25;">Sincerely,</div>
              <div style="margin-right: 14.4pt; line-height: 1.25;"> <br>
              </div>
              <div style="margin-right: 14.4pt; line-height: 1.25;"><u>/s/Yigal Arnon &amp; Co.</u></div>
              <div style="margin-right: 14.4pt; line-height: 1.25;">Yigal Arnon &amp; Co.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">1 Azrieli Center, Tel Aviv, 6702101 | Phone: +972-3-6087777&#160; | Fax: +972-3-6087724</div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">31 Hillel Street, Jerusalem, 9458131 | Phone: +972-2-6239239&#160; | Fax: +972-2-6239233</div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">www.arnon.co.il | info@arnon.co.il</div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; text-align: center;">- 2 -<br style="line-height: 1.25;">
      </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>exhibit_10-1.htm
<DESCRIPTION>UNDERWRITER WARRANT
<TEXT>
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    <p style="font: 10pt Times New Roman,Times,serif; margin: 0px 0px 12pt; text-align: right;"><u><font style="font-weight: bold;">Exhibit 10.1</font></u><br>
    </p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
      SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;SECURITIES ACT&#8221;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE
      SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><b>UNDERWRITER WARRANT TO PURCHASE AMERICAN DEPOSITARY SHARES</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>BIOLINERX LTD.</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b> <br>
      </b></p>
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          <td style="width: 50%; text-align: left; vertical-align: top;">
            <div>Number of American Depositary Shares: [_______</div>
          </td>
          <td style="width: 50%; text-align: left; vertical-align: bottom;">
            <div>
              <p style="font: 10pt Times New Roman,Times,serif; margin-top: 12pt; margin-bottom: 0px;"> Initial Exercise Date: January 22, 2021</p>
              <p style="font: 10pt Times New Roman,Times,serif; margin-top: 0px; margin-bottom: 12pt;">Issue Date: January 22, 2021</p>
            </div>
          </td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b> </b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">THIS UNDERWRITER WARRANT TO PURCHASE AMERICAN DEPOSITARY SHARES (this &#8220;<u>Warrant</u>&#8221;) certifies that, for value received, _____________ or its
      assigns (the &#8220;<u>Holder</u>&#8221;) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after January 22, 2021 (the &#8220;<u>Initial Exercise Date</u>&#8221;) and on or prior to 5:00 p.m.
      (New York City time) on January 19, 2026 (the &#8220;<u>Termination Date</u>&#8221;) but not thereafter, to subscribe for and purchase from <b>BIOLINERX LTD.</b>, a company organized under the laws of the State of Israel (the &#8220;<u>Company</u>&#8221;), up to [<font style="font-family: Wingdings">&#376;</font>] Ordinary Shares, par value NIS 0.10 per share, of the Company (the &#8220;<u>Warrant Shares</u>&#8221;) represented by [<font style="font-family: Wingdings">&#376;</font>] American Depositary Shares (each, an &#8220;ADS&#8221; and,
      collectively, the &#8220;ADSs&#8221; and the ADSs issuable upon exercise of this Warrant, the &#8220;<u>Warrant ADSs</u>&#8221;), as subject to adjustment hereunder. The purchase price of one Warrant ADS shall be equal to the Exercise Price, as defined in Section 2(b). This
      Warrant is issued pursuant to that certain engagement letter, dated as of January 14, 2021 by and between the Company and H.C. Wainwright &amp; Co., LLC. This Warrant will not be exercisable more than five years from the commencement of sales of
      public ADSs pursuant to the Underwriting Agreement, in accordance with FINRA Rule 5110(g)(8), as long as H.C. Wainwright &amp; Co., LLC or any of its related persons beneficially own this Warrant.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">Section 1.<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Definitions</u> In addition to the terms defined
      elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>ADS(s</u>)&#8221; means American Depositary Shares issued pursuant to the Deposit Agreement (as defined below), each representing fifteen (15)
      Ordinary Shares.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Affiliate</u>&#8221; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under
      common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Commission</u>&#8221; means the United States Securities and Exchange Commission.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Deposit Agreement</u>&#8221; means the Deposit Agreement dated as of July 21, 2011, among the Company, The Bank of New York Mellon as Depositary
      and the owners and holders of ADSs from time to time, as such agreement may be amended or supplemented.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Depositary</u>&#8221; has the meaning set forth in Section 2(d)(i).</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Exchange Act</u>&#8221; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Ordinary Share(s)</u>&#8221; means the ordinary shares of the Company, NIS 0.10 par value per share, and any other class of securities into
      which such securities may hereafter be reclassified or changed.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Ordinary Share Equivalents</u>&#8221; means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
      at any time Ordinary Shares or ADSs, including, without limitation, any debt, preferred share, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder
      thereof to receive, Ordinary Shares or ADSs.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Person</u>&#8221; means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
      liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Securities Act</u>&#8221; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Subsidiaries</u>&#8221; means all of the subsidiaries of the Company that are required to be listed pursuant to Item 601(b)(21) of Regulation
      S-K.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Trading Day</u>&#8221; means a day on which the principal Trading Market is open for trading.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Trading Market</u>&#8221; means any of the following markets or exchanges on which the ADSs are listed or quoted for trading on the date in
      question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Underwriting Agreement</u>&#8221; means that certain amended and restated underwriting agreement between the H.C. Wainwright &amp; Co., LLC and
      the Company, dated as of January 19, 2021.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">&#8220;<u>Warrants</u>&#8221; means this Warrant and other ADSs purchase warrants issued by the Company pursuant to the Underwriting Agreement.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&#160; Section 2.<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Exercise</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Exercise of Warrant</u>(b). Exercise of the
      purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy
      submitted by electronic mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the &#8220;<u>Notice of Exercise</u>&#8221;). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard
      Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price (as defined in Section 2(b) herein) for the Warrant ADSs specified in the applicable Notice of
      Exercise by wire transfer or cashier&#8217;s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required,
      nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the
      Company until the Holder has purchased all of the Warrant ADSs available hereunder and the Warrant has been exercised in full, in which case, the Holder shall, upon request of the Company, surrender this Warrant to the Company for cancellation within
      three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant ADSs available hereunder shall have the effect
      of lowering the outstanding number of Warrant ADSs purchasable hereunder in an amount equal to the applicable number of Warrant ADSs purchased. The Holder and the Company shall maintain records showing the number of Warrant ADSs purchased and the
      date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice. <b>The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of
        the provisions of this paragraph, following the purchase of a portion of the Warrant ADSs hereunder, the number of Warrant ADSs available for purchase hereunder at any given time may be less than the amount stated on the face hereof.</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-align: justify; text-indent: 0cm">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; text-indent: 36pt">&#160; (b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exercise Price</u>. The exercise price per ADS under this Warrant shall be <b>$3.00</b>, subject to adjustment
      hereunder (the &#8220;<u>Exercise Price</u>&#8221;).</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Cashless Exercise</u>. If at the time after the
      three-month anniversary of the Issue Date, there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance or resale of the Warrant ADSs by the Holder, then this Warrant may also be
      exercised, in whole or in part, at such time by means of a &#8220;cashless exercise&#8221; in which the Holder shall be entitled to receive the number of Warrant ADSs equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 103.5pt; text-align: justify; text-indent: -31.5pt">(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such
      Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of &#8220;regular trading
      hours&#8221; (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable
      Notice of Exercise or (z) the Bid Price of the ADSs on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder&#8217;s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during &#8220;regular
      trading hours&#8221; on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of &#8220;regular trading hours&#8221; on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the
      applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of &#8220;regular trading hours&#8221; on such Trading Day;</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 108pt; text-align: justify; text-indent: -36pt">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 108pt; text-align: justify; text-indent: -36pt">(B) = the Exercise Price of this Warrant, as adjusted hereunder; and</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 108pt; text-align: justify; text-indent: -36pt">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 103.5pt; text-align: justify; text-indent: -31.5pt">(X) = the number of Warrant ADSs that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if
      such exercise were by means of a cash exercise rather than a cashless exercise.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 103.5pt; text-align: justify; text-indent: -31.5pt">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 72pt">&#8220;<u>Bid Price</u>&#8221; means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then
      listed or quoted on a Trading Market, the bid price of the ADSs for the time in question (or the nearest preceding date) on the Trading Market on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
      a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs
      are not then listed or quoted for trading on OTCQB or OTCQX and if prices for ADSs are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per ADS so
      reported, or (d) in all other cases, the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants originally issued on the Issue Date then outstanding and
      reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 72pt">&#8220;<u>VWAP</u>&#8221; means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then listed or
      quoted on a Trading Market, the daily volume weighted average price of the ADSs for such date (or the nearest preceding date) on the Trading Market on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from
      9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)&#160;if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the
      ADSs are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
      ADS so reported, or (d) in all other cases, the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants originally issued on the Issue Date then outstanding
      and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">If Warrant ADSs are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the
      Securities Act, the Warrant ADSs shall take on the characteristics of the Warrants being exercised, and the holding period of the Warrant ADSs being issued may be tacked on to the holding period of this Warrant.&#160;&#160;The Company agrees not to take any
      position contrary to this Section 2(c).</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Mechanics of Exercise</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(i)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Delivery of Warrant ADSs Upon Exercise</u>. The Company shall
      cause its registrar to deposit the Warrant Shares subject to such exercise with the Israeli custodian of The Bank of New York Mellon, the Depositary for the ADSs (the &#8220;Depositary&#8221;), and cause the Depositary to credit the account of the Holder&#8217;s or
      its designee&#8217;s balance account with The Depository Trust Company (or another established clearing corporation performing similar functions) through its Deposit/Withdrawal At Custodian system (&#8220;<u>DWAC</u>&#8221;) if the Depositary is then a participant in
      such system and either (A) there is an effective registration statement permitting the issuance of the Warrant ADSs to or resale of the Warrant ADSs by the Holder or (B) the Warrant ADSs are eligible for resale by the Holder without volume or manner
      of sale limitations pursuant to Rule 144 (assuming cashless exercise of the Warants), and otherwise by physical delivery of a certificate, registered in the name of the Holder or its designee, for the number of Warrant ADSs to which the Holder is
      entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period, in each
      case after the delivery to the Company of the Notice of Exercise (such date, the &#8220;<u>Warrant ADS Delivery Date</u>&#8221;), provided, that the Company shall not be obligated to deliver the Warrant ADSs hereunder unless the Company has received the
      aggregate Exercise Price (other than in the case of a cashless exercise) on or before the Warrant ADS Delivery Date. The Warrant Shares represented by the Warrant ADSs shall be deemed to have been issued, and Holder or any other person so designated
      to be named therein shall be deemed to have become the holder of record of such Warrant Shares represented by the Warrant ADSs for all purposes, as of the date the Warrant has been exercised, irrespective of the date of delivery of the Warrant
      Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the Warrant Share Delivery Date. If the Company fails for any reason to deliver to the Holder the Warrant ADSs subject to a
      Notice of Exercise by the Warrant ADS Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant ADSs subject to such exercise (based on the VWAP of an ADS on the date of the
      applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day following such Warrant ADS Delivery Date until such Warrant ADSs are
      delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable, if applicable. As used herein, &#8220;<u>Standard Settlement
        Period</u>&#8221; means the standard settlement period, expressed in a number of Trading Days, on the Company&#8217;s primary Trading Market with respect to the ADS as in effect on the date of delivery of the Notice of Exercise.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(ii)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Delivery of New Warrants Upon Exercise</u>. If this Warrant
      shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant evidencing the rights of the Holder to
      purchase the unpurchased Warrant ADSs called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(iii)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Rescission Rights</u>. If the Company fails to cause the
      Depositary to deliver to the Holder the Warrant ADSs pursuant to Section 2(d)(i) by the Warrant ADS Delivery Date, then the Holder will have the right to rescind such exercise.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(iv)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Compensation for Buy-In on Failure to Timely Deliver Warrant
        ADSs Upon Exercise</u>. In addition to any other rights available to the Holder, if the Company fails to cause the Depositary to deliver to the Holder the Warrant ADSs in accordance with the provisions of Section 2(d)(i) above pursuant to an
      exercise on or before the Warrant ADS Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder&#8217;s brokerage firm otherwise purchases, ADSs to deliver in
      satisfaction of a sale by the Holder of the Warrant ADSs which the Holder anticipated receiving upon such exercise (a &#8220;<u>Buy-In</u>&#8221;), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder&#8217;s total purchase
      price (including brokerage commissions, if any) for the ADSs so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant ADSs that the Company was required to deliver to the Holder in connection with the exercise at issue
      times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant ADSs for which such exercise was not
      honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of ADSs that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder
      purchases ADSs having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of ADSs with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
      sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of
      such loss. Nothing herein shall limit a Holder&#8217;s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company&#8217;s
      failure to timely deliver ADSs upon exercise of the Warrant as required pursuant to the terms hereof.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(v)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>No Fractional Shares or Scrip</u>. No fractional Warrant
      Shares or Warrant ADSs shall be issued upon the exercise of this Warrant. As to any fraction of an ADS which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in
      respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole ADS.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(vi)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Charges, Taxes and Expenses</u>. Issuance of Warrant ADSs
      shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant ADSs, all of which taxes and expenses shall be paid by the Company, and such Warrant ADSs shall be issued
      in the name of the Holder or in such name or names as may be directed by the Holder; <u>provided</u>, <u>however</u>, that in the event that Warrant ADSs are to be issued in a name other than the name of the Holder, this Warrant shall be
      surrendered for exercise and accompanied by the Assignment Form attached hereto duly executed by the Holder, and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.
      The Holder shall pay all Depositary fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day
      electronic delivery of the ADSs, if any. The Company shall pay all applicable fees and expenses of the Depositary in connection with the issuance of the Warrant ADSs hereunder.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 108pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: 36pt">(vii)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Closing of Books</u>. The Company will not close its
      shareholder books or records in any manner that prevents the timely exercise of this Warrant pursuant to the terms hereof.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(e)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Holder&#8217;s Exercise Limitations</u>. The Company shall not
      effect any exercise of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the
      applicable Notice of Exercise, the Holder (together with the Holder&#8217;s Affiliates and any other Persons acting as a group together with the Holder or any of the Holder&#8217;s Affiliates (such Persons, collectively, the &#8220;<u>Attribution Parties</u>&#8221;)), would
      beneficially own in excess of the Beneficial Ownership Limitation (as defined below).&#160; For purposes of the foregoing sentence, the number of Ordinary Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the
      number of Ordinary Shares underlying ADSs held by the Holder and its Attribution Parties plus the number of Ordinary Shares underlying ADSs issuable upon exercise of this Warrant with respect to which such determination is being made, but shall
      exclude the number of Ordinary Shares underlying ADSs which would be issuable upon (i) exercise of the remaining, unexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise
      or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Ordinary Share Equivalents) subject to a limitation on conversion or exercise analogous to the limitation
      contained herein that are beneficially owned by the Holder or any of its Affiliates or Attribution Parties.&#160; Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with
      Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange
      Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation
      to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be
      deemed to be the Holder&#8217;s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each
      case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in
      accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding Ordinary Shares, the Holder may rely on the number of outstanding
      Ordinary Shares as reflected in (x) the Company&#8217;s most recent Annual Report on Form 20-F, Report on Form 6-K or other public filing with the Commission, as the case may be, (y) a more recent public announcement by the Company or (z) any other written
      notice by the Company or the Depositary setting forth the number of Ordinary Shares outstanding.&#160; Upon the written or oral request of the Holder, the Company shall within one (1) Trading Day confirm orally and in writing or by electronic mail to the
      Holder the number of Ordinary Shares then outstanding.&#160; In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
      or its Affiliates or Attribution Parties since the date as of which such number of outstanding Ordinary Shares was reported. The &#8220;<u>Beneficial Ownership Limitation</u>&#8221; shall be 4.99% of the number of Ordinary Shares outstanding immediately after
      giving effect to the issuance of Ordinary Shares issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the
      Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of Ordinary Shares upon exercise of this Warrant held by the Holder and the provisions of this
      Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the sixty first (61<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>) day after such notice is delivered to the Company. The provisions of this paragraph shall be
      construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation
      herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&#160; Section 3.<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Certain Adjustments</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(a)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Share Dividends and Splits</u>. If the Company, at any
      time while this Warrant is outstanding: (i) pays a share dividend or otherwise makes a distribution or distributions on its Ordinary Shares or ADSs or any other equity or equity equivalent securities payable in Ordinary Shares or ADSs (which, for
      avoidance of doubt, shall not include any ADSs issued by the Company upon exercise of this Warrant), as applicable, (ii) subdivides outstanding Ordinary Shares or ADSs into a larger number of shares or ADSs, as applicable, (iii) combines (including
      by way of reverse share split) outstanding Ordinary Shares or ADSs into a smaller number of shares or ADSs, as applicable, or (iv) issues by reclassification of Ordinary Shares, ADSs or any capital share of the Company, as applicable, then in each
      case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Ordinary Shares or ADSs, as applicable, (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
      shall be the number of Ordinary Shares or ADSs, as applicable, outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this
      Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become
      effective immediately after the effective date in the case of a subdivision, combination or re-classification.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(b)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Subsequent Rights Offerings</u>. In addition to any
      adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro rata to the record holders of any class of Ordinary
      Shares or ADSs (the &#8220;<u>Purchase Rights</u>&#8221;), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of
      Ordinary Shares or ADSs acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken
      for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares or ADSs are to be determined for the grant, issue or sale of such Purchase Rights (<u>provided</u>, <u>however</u>,
      that to the extent that the Holder&#8217;s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent
      (or beneficial ownership of such ADSs as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder
      exceeding the Beneficial Ownership Limitation).</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(c)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Pro Rata Distributions</u>. During such time as this
      Warrant is outstanding, if the Company shall declare or make any dividend (other than cash) or other distribution of its assets (or rights to acquire its assets) to holders of Ordinary Shares or ADSs, by way of return of capital or otherwise
      (including, without limitation, any distribution of shares or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a &#8220;<u>Distribution</u>&#8221;),


      at any time after the issuance of this Warrant, then, in each such case, the Company shall reserve and put aside the maximum Distribution amount the Holder would have been entitled to receive if the Holder had held the number of Ordinary Shares or
      ADSs acquirable upon complete exercise of this Warrant immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of Ordinary Shares or ADSs are to be
      determined for the participation in such Distribution. Upon exercise of a Warant, in whole or in part, the Company shall contemporaneously with the delivery of the Warrant ADSs, distribute to the Holder a pro rata portion of such Distribution based
      on the portion of the Warrant that has been exercised; <u>provided</u>, <u>however</u>, that to the extent that the Holder&#8217;s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation,
      then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any Ordinary Shares or ADSs as a result of such Distribution to such extent), and the portion of such Distribution shall be
      held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(d)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Fundamental Transaction</u>. If, at any time while this
      Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its Subsidiaries, taken as a whole),
      directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer,
      tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Ordinary Shares (including any Ordinary Shares underlying ADSs) are permitted to sell, tender or exchange their shares for other
      securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares (including any Ordinary Shares underlying ADSs), (iv) the Company, directly or indirectly, in one or more related transactions effects
      any reclassification, reorganization or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively converted into or exchanged for other securities, cash or property, or (v) the
      Company, directly or indirectly, in one or more related transactions consummates a share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement)
      with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding Ordinary Shares (including any Ordinary Shares underlying ADSs) (not including any ADSs and Ordinary Shares held by the other Person
      or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a &#8220;<u>Fundamental Transaction</u>&#8221;), then, upon any subsequent
      exercise of this Warrant, the Holder shall have the right to receive, for each Warrant ADSs that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without
      regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of capital stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the &#8220;<u>Alternate


        Consideration</u>&#8221;) receivable as a result of such Fundamental Transaction by a holder of a number of Ordinary Shares (including any Ordinary Shares underlying ADSs) equal to the amount of Warrant ADSs for which this Warrant is exercisable
      immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply
      to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Ordinary Share or ADS, as applicable, in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate
      Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Ordinary Shares or ADSs are given any choice as to the securities, cash or property to be received in a
      Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.&#160; The Company shall cause any successor entity in a
      Fundamental Transaction in which the Company is not the survivor (the &#8220;<u>Successor Entity</u>&#8221;) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d) pursuant to written
      agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this
      Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its
      parent entity) equivalent to the Ordinary Shares or ADSs acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price
      which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Ordinary Shares or ADSs pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number
      of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and
      substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring
      to the &#8220;Company&#8221; shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been
      named as the Company herein.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(e)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Calculations</u>. All calculations under this
      Section 3 shall be made to the nearest cent or the nearest 1/100th of an ADS, as the case may be. For purposes of this Section 3, the number of Ordinary Shares or ADSs, as applicable, deemed to be issued and outstanding as of a given date shall be
      the sum of the number of Ordinary Shares or ADSs, as applicable, (excluding treasury shares, if any) issued and outstanding.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt; text-align: justify; text-indent: 36pt">(f)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Notice to Holder</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <table width="100%" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt" id="z47152ae2911544eab1b4e2906d661f96">

        <tr style="vertical-align: top">
          <td style="width: 99pt"><br>
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          <td style="width: 9pt">i.</td>
          <td style="text-align: justify"><u>Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting
            forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.</td>
        </tr>

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        <tr style="vertical-align: top">
          <td style="width: 99pt"><br>
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          <td style="width: 9pt">ii.</td>
          <td style="text-align: justify"><u>Notice to Allow Exercise by Holder</u>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Ordinary Shares or ADSs, (B) the Company shall declare a special
            nonrecurring cash dividend on or a redemption of the Ordinary Shares or ADSs, (C) the Company shall authorize the granting to all holders of the Ordinary Shares or ADSs rights or warrants to subscribe for or purchase any shares of capital stock
            of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of the Ordinary Shares or ADSs, any consolidation or merger to which the Company is a party, any sale
            or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or
            involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear
            upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
            distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Ordinary Shares or ADSs of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be
            determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Ordinary Shares of record
            shall be entitled to exchange their Ordinary Shares for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any
            defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public
            information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during the period
            commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.</td>
        </tr>

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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160; <u>Section 4</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Transfer of Warrant</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">a)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Transferability</u>. Subject to compliance with any
      applicable securities laws and the conditions set fort in Section 4(d) hereof, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the
      principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney-in-fact and funds sufficient to pay any
      transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the
      denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything
      herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within two (2)
      Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant ADSs
      without having a new Warrant issued.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">b)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>New Warrants</u>. This Warrant may be divided or combined
      with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney-in-fact.
      Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in
      accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original Issue Date of this Warrant and shall be identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">c)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Warrant Register</u>. The Company shall register this
      Warrant, upon records to be maintained by the Company for that purpose (the &#8220;<u>Warrant Register</u>&#8221;), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute
      owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">d)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Transfer Restrictions</u>. If, at the time of the
      surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under applicable state securities
      or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or
      transferee of this Warrant, as the case may be, provide to the Company an opinion of counsel, the form and substance of which opinion shall be reasonably satisfactory to the Company to the effect that the transfer of this Warrant does not require
      registration under the Securities Act.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 36pt">e)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u></font><u>Representation by the Holder</u>. The Holder, by
      the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant ADSs issuable upon such exercise, for its own account and not with a view to or for distributing or reselling
      such Warrant ADSs or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(a)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>No Rights as Shareholder Until Exercise; No Settlement in
        Cash</u>. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without
      limiting the rights of a Holder to receive Warrant Shares on a &#8220;cashless exercise,&#8221; and to receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the Company be required to net cash settle an exercise of
      this Warrant.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(b)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The
      Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant ADSs, and in case of loss, theft or
      destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company
      will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(c)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Saturdays, Sundays, Holidays, etc</u>. If the last or
      appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(d)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Authorized Shares</u>.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 72pt; text-align: justify; text-indent: 36pt">The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary
      Shares a sufficient number of shares to provide for the issuance of the Warrant ADSs and underlying Ordinary Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall
      constitute full authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to
      assure that such Warrant ADSs and Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the applicable Trading Market upon which the Ordinary Shares and ADSs may be listed.
      The Company covenants that all Warrant ADSs which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant ADSs in
      accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
      contemporaneously with such issue).</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 72pt; text-align: justify; text-indent: 36pt">Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
      amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of
      the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against
      impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant ADSs above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such
      action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant ADSs upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such
      authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 72pt; text-align: justify; text-indent: 36pt">Before taking any action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in
      the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(e)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Jurisdiction</u>. All questions concerning the
      construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each
      party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers,
      shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
      sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in
      any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives
      personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in
      effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
      manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable
      attorneys&#8217; fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(f)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Restrictions</u>. The Holder acknowledges that the Warrant
      ADSs acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(g)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Nonwaiver and Expenses</u>. No course of dealing or any
      delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder&#8217;s rights, powers or remedies, notwithstanding the fact that the right to exercise this Warrant terminates
      on the Termination Date. Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to
      the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys&#8217; fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto
      or in otherwise enforcing any of its rights, powers or remedies hereunder.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(h)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160; </font><u>Notices</u>. Any and all notices or other communications or
      deliveries required or permitted to be provided hereunder, including, without limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service,
      addressed to the Company, at 2 HaMa&#8217;ayan Street, Modi&#8217;in 7177871, Israel, Attention: Mali Zeevi, email address: maliz@Biolinerx.com, facsimile: +972 (8) 642-9101, or such other facsimile number, email address or address as the Company may specify for
      such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
      overnight courier service addressed to each Holder at the facsimile number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective
      on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date,
      (ii) the next Trading Day after the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a day that is not a Trading Day or later
      than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is
      required to be given.</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(i)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Limitation of Liability</u>. No provision hereof, in the
      absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any
      Ordinary Shares or ADSs or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company or otherwise.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(j)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Remedies</u>. The Holder, in addition to being entitled to
      exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason
      of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(k)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160; </font><u>Successors and Assigns</u>. Subject to applicable securities
      laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this
      Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant ADSs.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(l)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160;&#160; </font><u>Amendment</u>. This Warrant may be modified or amended or
      the provisions hereof waived with the written consent of the Company, on the one hand, and the Holder of this Warrant, on the other hand.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 72pt">(m)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160; </font><u>Severability</u>. Wherever possible, each provision of this
      Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such
      prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.</p>
    <p style="margin: 0px 0px 0px 36pt; line-height: normal; font-style: normal; font-variant: normal; font-weight: normal; text-align: justify; text-indent: 72pt;">(n)<font style="font-family: Times New Roman, Times, Serif;">&#160;&#160;&#160;&#160; </font><u>Headings</u>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.</p>
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    <i>&#160;</i>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 72pt">IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above
      indicated.</p>
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              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="text-transform: uppercase"><b>BIOLINERX LTD.</b></font></p>
              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="text-transform: uppercase"><b> <br>
                  </b></font></p>
              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">By:__________________________________________</p>
              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Name:</p>
              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Title:</p>
              <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="text-transform: uppercase"><b> </b></font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>PRESS RELEASE DATED JANUARY 19, 2021
<TEXT>
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  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
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  <div style="font-family: 'Times New Roman',Times,serif; text-align: right;"><u><font style="font-weight: bold;">Exhibit 99.1</font></u><br>
  </div>
  <div style="font-family: 'Times New Roman',Times,serif;"><br>
  </div>
  <div style="font-family: 'Times New Roman',Times,serif;">
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;"><img src="image00002.jpg"></div>
      <div style="line-height: 1.25;">&#160;</div>
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    <div style="line-height: 1.25; font-size: 12pt; font-weight: bold;">BioLineRx Announces $10 Million Bought Deal Offering</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">January 19, 2021</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">TEL AVIV</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Israel</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Jan.
        19</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">2021 /PRNewswire/ -- BiolineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a late
        clinical-stage biopharmaceutical company focused on oncology</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">today announced that
        it has entered into an underwriting agreement with H.C. Wainwright &amp; Co.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">LLC
        under which the underwriter has agreed to purchase on a firm commitment basis 4</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">,</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">166,667
        American Depositary Shares (ADSs) of the Company, at a price to the public of $2.40 per ADS</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">less underwriting discounts and commissions. Each ADS represents fifteen ordinary shares</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">par value NIS 0.10 per share</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">of the Company.
        The closing of the offering is expected to occur on or about January 22, 2021</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">subject

        to satisfaction of customary closing conditions.</font></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">H.C. Wainwright &amp; Co. is acting as the sole book-running manager for the offering.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The Company also has granted to the underwriter&#160; a 30-day option to purchase up to additional
        625,000 ADSs at the public offering price</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">less underwriting discounts and
        commissions.</font></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The gross proceeds to BiolineRx, before deducting underwriting discounts and commissions and
        offering expenses and assuming no exercise of the underwriter's option to purchase additional ADSs</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">are expected to be approximately $10 million. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include but are not limited to working capital and funding clinical trials.</font></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">The securities described above are being offered by BiolineRx pursuant to a "shelf' registration statement&#160; on Form F-3 (File No. 333-251857) previously filed with the Securities and Exchange Commission (the "SEC") on
      December 31, 2020 and declared effective by the SEC on January 11, 2021. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A
      preliminary prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and accompanying prospectus may be obtained, when available,
      on the SEC's website at <u>http://www.sec.goy</u> or by contacting H.C. Wainwright &amp; Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at <u>placemepts@hcwco.com</u>.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">This press release shall not constitute an offer to sell or a solicitation of an offer to buy
        these securities</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">nor shall there be any sale of these securities in any state or
        other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.</font></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-weight: bold;">About BiolineRx</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">BiolineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX) is a late clinical-stage biopharmaceutical company focused on oncology. The Company's business model is to in-license novel compounds, develop them through clinical stages, and
      then partner with pharmaceutical companies for further clinical development and/or commercialization.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The Company's lead program, Motixafortide (BL-8040), is a cancer therapy platform that was
        successfully evaluated in a Phase 3 study in stem cell mobilization for autologous bone-marrow transplantation. Motixafortide was also successfully evaluated in a Phase 2a study for the treatment of pancreatic cancer in combination with KEYTRUDA</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#174; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">and chemotherapy under a clinical trial collaboration agreement with MSD (BiolineRx owns all
        rights to motixafortide), and is currently being studied in combination with LIBTAYO</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#174; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">and chemotherapy as a first-line PDAC therapy.</font></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">BiolineRx is developing a second oncology program, AGI-134, an immunotherapy treatment for multiple solid tumors that is currently being investigated in a Phase 1/2a study.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">For additional information on BiolineRx, please visit the Company's website at</font><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> www.biolinerx.com</font></u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">,</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> where you can review the Company's SEC filings, press releases</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">announcements
        and events.</font></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Various statements in this release concerning BiolineRx's future expectations constitute
        "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "may," "expects," "anticipates," "believes," and "intends," and describe opinions about future events,
        such as statements relating to the bought deal offering, including as to the consummation of the offering described above, the expected proceeds from the offering, the intended use of proceeds and the timing of the closing of the offering. These
        forward- looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of BiolineRx to be materially different from any future results, performance or achievements expressed or
        implied by such forward-looking statements. Factors that could cause BiolineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: market and other conditions,the
        initiation, timing</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">progress and results of BiolineRx's preclinical studies,
        clinical trials and other therapeutic candidate development efforts; BiolineRx's ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">BiolineRx's receipt of regulatory approvals for its therapeutic candidates, and the timing of
        other regulatory filings and approvals; the clinical development</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">commercialization
        and market acceptance of BiolineRx's therapeutic candidates; BiolineRx's ability to establish and maintain corporate&#160; collaborations; BiolineRx's ability to integrate new therapeutic candidates and new personnel</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">;</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">the interpretation of the properties and characteristics of BiolineRx's therapeutic candidates and of the results
        obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BiolineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection BiolineRx is able to
        establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BiolineRx's expenses, future revenues,
        capital requirements and its needs for additional financing; risks related to changes in healthcare laws, rules and regulations in the United states or elsewhere;&#160; competitive companies</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">technologies and BiolineRx's industry; risks related to the coronavirus outbreak; and statements as to the impact of the political and security
        situation in Israel on BiolineRx's business. These and other factors are more fully discussed in the "Risk Factors" section of BiolineRx's most recent annual report on Form 20-F filed with the Securities and Exchange Commission on March 12, 2020.
        In addition</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">any forward-looking statements represent BiolineRx's views only as of
        the date of this release and should not be relied upon as representing its views as of any subsequent date. BiolineRx does not assume any obligation to update any forward-looking statements unless required by law.</font></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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    <div style="line-height: 1.25; font-weight: bold;">Company contact:</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">Tim McCarthy</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">LifeSci Advisors</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">LLC</font></div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">+1-212-915-2564 </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"></font></div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">tim@lifesciadvisors.com</font></u></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">or</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">Moran Meir</div>
    <div style="line-height: 1.25;">LifeSci Advisors, LLC</div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">+972-54-476-4945 </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"></font></div>
    <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">moran@lifesciadvisors.com</font></u></div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><font style="font-weight: bold; color: rgb(245, 125, 27); font-size: 11pt;">C</font>&#160; View
          original content:</font><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">http://www.prnewswire.com/news-releases/biolinerx-announces-10-million-bought-deal-offering-301211288.html</font></u></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">SOURCE BiolineRx Ltd.</div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div style="line-height: 1.25;">
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>6
<FILENAME>exhibit_99-2.htm
<DESCRIPTION>PRESS RELEASE DATED JANUARY 20, 2021
<TEXT>
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    <div style="text-align: right;"><u><font style="font-weight: bold;">Exhibit 99.2<br>
        </font></u></div>
    <div> <br>
      <img src="image00002.jpg"></div>
    <div><br>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">BioLineRx Increases Previously Announced Bought Deal Offering to $30 Million</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">January 20, 2021</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">TEL AVIV</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Israel</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Jan.
          20</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">2021 /PRNewswire/ -- BiolineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a late
          clinical-stage biopharmaceutical company focused on oncology</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">today announced
          that due to demand,the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 12</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">,</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">500,000 American Depositary Shares (ADSs) of the Company</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">at a price to the public of $2.40 per ADS</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">less underwriting discounts and commissions. Each ADS represents fifteen ordinary shares</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">par value NIS 0.10 per share, of the Company. The closing of the offering is expected to occur on or about January 22, 2021</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">subject to satisfaction of customary closing conditions.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">H.C. Wainwright &amp; Co. is acting as the sole book-running manager for the offering.</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The Company also has granted to the underwriter&#160; a 30-day option to purchase up to additional
          1,875,000 ADSs at the public offering price</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">less underwriting discounts and
          commissions.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The gross proceeds to BiolineRx, before deducting underwriting discounts and commissions and
          offering expenses and assuming no exercise of the underwriter's option to purchase additional ADSs</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">are expected to be approximately $30 million. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include but are not limited to working capital and funding clinical trials.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The securities described above are being offered by BiolineRx pursuant to a "shelf' registration statement&#160; on Form F-3 (File No. 333-251857) previously filed with the
        Securities and Exchange Commission (the "SEC") on December 31, 2020 and declared effective by the SEC on January 11, 2021. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part
        of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the securities being offered have been filed with the SEC and are available on the SEC's website at <u>http://www.sec.goy</u>. A
        final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and, upon filing, may be obtained on the SEC's website at <u>http://www.sec.goy</u> or by contacting H.C. Wainwright &amp; Co., LLC at 430
        Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at <u>placemepts@hcwco.com</u>.</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">This press release shall not constitute an offer to sell or a solicitation of an offer to buy
          these securities</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">nor shall there be any sale of these securities in any state or
          other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">About BiolineRx</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">BiolineRx Ltd. (NASDAQ/TASE: BLRX) is a late clinical-stage biopharmaceutical company focused on oncology. The Company's business model is to in-license novel compounds,
        develop them through clinical stages, and then partner with pharmaceutical companies for further clinical development and/or commercialization.</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">The Company's lead program, Motixafortide (BL-8040), is a cancer therapy platform that was
          successfully evaluated in a Phase 3 study in stem cell mobilization for autologous bone-marrow transplantation. Motixafortide was also successfully evaluated in a Phase 2a study for the treatment of pancreatic cancer in combination with KEYTRUDA</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#174; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">and chemotherapy under a clinical trial collaboration agreement with MSD (BiolineRx owns all
          rights to motixafortide), and is currently being studied in combination with LIBTAYO</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#174; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">and chemotherapy as a first-line PDAC therapy.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">BiolineRx is developing a second oncology program, AGI-134, an immunotherapy treatment for multiple solid tumors that is currently being investigated in a Phase 1/2a study.</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">For additional information on BiolineRx, please visit the Company's website at</font><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> www.biolinerx.com</font></u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">,</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> where you can review the Company's SEC filings, press releases</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">announcements and events.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Various statements in this release concerning BiolineRx's future expectations constitute
          "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "may," "expects," "anticipates," "believes," and "intends," and describe opinions about future events,
          such as statements relating to the bought deal offering, including as to the consummation of the offering described above, the expected proceeds from the offering, the intended use of proceeds and the timing of the closing of the offering. These
          forward- looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of BiolineRx to be materially different from any future results, performance or achievements expressed or
          implied by such forward-looking statements. Factors that could cause BiolineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: market and other
          conditions,the initiation, timing</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">progress and results of BiolineRx's
          preclinical studies, clinical trials and other therapeutic candidate development efforts; BiolineRx's ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">; </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">BiolineRx's receipt of regulatory approvals for its therapeutic candidates, and the timing
          of other regulatory filings and approvals; the clinical development</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">commercialization


          and market acceptance of BiolineRx's therapeutic candidates; BiolineRx's ability to establish and maintain corporate&#160; collaborations; BiolineRx's ability to integrate new therapeutic candidates and new personnel</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">;</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">the interpretation of the properties and characteristics of BiolineRx's therapeutic candidates and of the results
          obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BiolineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection BiolineRx is able to
          establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BiolineRx's expenses, future revenues,
          capital requirements and its needs for additional financing; risks related to changes in healthcare laws, rules and regulations in the United states or elsewhere;&#160; competitive companies</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">technologies and BiolineRx's industry; risks related to the coronavirus outbreak; and statements as to the impact of the
          political and security situation in Israel on BiolineRx's business. These and other factors are more fully discussed in the "Risk Factors" section of BiolineRx's most recent annual report on Form 20-F filed with the Securities and Exchange
          Commission on March 12, 2020. In addition</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">any forward-looking statements
          represent BiolineRx's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BiolineRx does not assume any obligation to update any forward-looking statements unless required
          by law.</font></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
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      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Company contact:</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Tim McCarthy</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">LifeSci Advisors</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">LLC</font></div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">+1-212-915-2564 </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"></font></div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">tim@lifesciadvisors.com</font></u></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">or</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Moran Meir</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">LifeSci Advisors, LLC</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">+972-54-476-4945 </font></div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 7.5pt;"><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">moran@lifesciadvisors.com</font></u></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
        <div style="line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><font style="color: rgb(245, 125, 27); font-weight: bold; font-size: 11pt;">C</font>&#160; View
            original content:</font><u><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">http://www.prnewswire.com/news-releases/biolinerx-increases-previously-announced-bought-deal-offering-to-30-million-</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">301211410.html</font></u></div>
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">SOURCE BiolineRx Ltd.</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
