Join        Login             Stock Quote

Protalix Biotherapeutics (PLX) Signs Clinical Development Agreement With Pfizer (PFE) For Gaucher Disease

 December 06, 2012 09:07 AM

(By Balaseshan) Protalix BioTherapeutics Inc. (NYSEAMEX: PLX) said it has signed a dlinical development agreement with Pfizer Inc. (NYSE: PFE) for Elelyso (taliglucerase alfa) to treat Gaucher disease.

The plant-derived enzyme of Elelyso is a recombinant glucocerebrosidase used to treat Gaucher's Disease and is the first plant-made pharmaceutical to win approval by the U.S. Food and Drug Administration.

Protalix will continue to manage, administer and sponsor current, ongoing clinical trials relating to Elelyso. Protalix is currently sponsoring adult and pediatric extension studies of Elelyso. New clinical trials for Elelyso will be conducted and sponsored by Pfizer.

[Related -Pfizer Inc. (PFE) Q3 Earnings Preview: What To Watch?]

Under the terms of the agreement, Protalix is eligible to receive a milestone payment of $8.3 million upon the achievement of certain near-term clinical development milestones.

This agreement helps to maintain the continuity of the ongoing clinical trials for Gaucher patients and physicians and reinforces the companies' mutual commitment to the Gaucher community.

On November 30, 2009, Pfizer and Protalix entered into an agreement to develop and commercialize taliglucerase alfa, an enzyme replacement therapy for the treatment of Gaucher disease.

Under the terms of the agreement, Pfizer received exclusive worldwide licensing rights for the commercialization of taliglucerase alfa, while Protalix retained the exclusive commercialization rights in Israel.

[Related -Six Stocks That Could Get An October Bump From The FDA]

Protalix is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell based expression system, ProCellEx.

Protalix's first product manufactured by ProCellEx, Elelyso (taliglucerase alfa), was approved for marketing by the U.S. Food and Drug Administration in May 2012, and by the Israeli Ministry of Health in September 2012.

PLX closed Wednesday's regular session at $5.48, while PFE ended at $25.64.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageTackling China's Debt Problem: Can Debt-Equity Conversions Help?

China’s high and rising corporate debt problem and how best to address it has received much attention read on...

article imageWill Job Growth Kill The Bear-Market Signal For Stocks?

It’s all about jobs now. Actually, it’s always been about jobs. But the stakes are even higher—perhaps more read on...

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.