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 kristin.jones@dowjones.com