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Protalix Gets $25 Million Milestone Payment For Rare-Disease Drug

By Kristin Jones Protalix BioTherapeutics Inc. (PLX) has received a $25 million milestone payment from Pfizer Inc. (PFE) after the U.S. Food and Drug Administration approved its new drug for the treatment of Gaucher disease. On May 1, U.S. regulators approved taliglucerase alfa, sold as Elelyso, for the treatment of type 1 Gaucher disease, a genetic disorder that can cause enlargement of the spleen and liver, as well as lung disease and bone problems. Pfizer and Protaliz entered an exclusive agreement for the development and commercialization of Elelyso in November 2009. Under the terms of the deal, Pfizer has an exclusive license to sell Elelyso, except in Israel. Elelyso, an infusion administered by health-care professionals every other week, is the first plant-derived cell-based enzyme replacement. It will compete in the U.S. with the Gaucher-disease treatment Cerezyme, produced by Genzyme, the U.S. biotechnology unit of Sanofi S.A. (SNY, SAN.FR) and Shire PLC's (SHPGY, SHP.LN) Vpriv. Protalix shares rose 2.4% to $6.85 in premarket trading. The stock is up 36% so far this year. Write to Kristin Jones at [email protected]

Stock News for Protalix Biotherapeutics (PLX)
01/09/201706:13:02Current Report Filing (8-k)
01/04/201710:56:33Amended Statement of Ownership (sc 13g/a)
01/03/201707:40:22Current Report Filing (8-k)
12/27/201607:39:52Current Report Filing (8-k)
12/23/201616:16:52Statement of Ownership (sc 13g)
12/14/201607:40:13Current Report Filing (8-k)
12/07/201617:28:25Current Report Filing (8-k)
12/06/201615:27:14Statement of Changes in Beneficial Ownership (4)
12/02/201606:04:28Current Report Filing (8-k)
11/30/201608:02:47Current Report Filing (8-k)
11/22/201616:20:41Current Report Filing (8-k)
11/09/201616:35:10Quarterly Report (10-q)
11/09/201608:10:39Current Report Filing (8-k)
10/25/201607:42:12Current Report Filing (8-k)
09/16/201617:02:40Statement of Changes in Beneficial Ownership (4)
08/10/201607:40:25Current Report Filing (8-k)
08/08/201616:54:43Quarterly Report (10-q)
08/08/201616:41:42Current Report Filing (8-k)
07/07/201607:37:38Current Report Filing (8-k)
07/01/201617:06:03Proxy Statement (definitive) (def 14a)

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