Protalix BioTherapeutics

Protalix BioTherapeutics Inc.
Public
Traded as NYSE MKT: PLX
TASE: PLX
Industry Biotechnology
Founded 1993 (1993)
Founder Yoseph Shaaltiel
Headquarters Karmiel, Israel
Key people
 Shlomo Yanai (Interim Chairman)
Moshe Manor (President and CEO)[1]
Products Elelyso
Revenue Decrease $11.51 million (2013)[2]
Total assets Increase $113.33 million (2013)[2]
Number of employees
 266 (2013)[2]
Website www.protalix.com
Footnotes / references
[3]

Protalix BioTherapeutics is an Israeli pharmaceutical company whose plant-based enzyme, taliglucerase alfa, has been approved by the U.S. Food and Drug Administration for the treatment of Gaucher disease.

Corporate history

Protalix BioTherapeutics was established in 1993.[4] It was founded by Yoseph Shaaltiel, who received his Ph.D. in Plant Biochemistry from the Weizmann Institute in Israel and served in the Biology Department of the Israel Defense Forces' Biological and Chemical Center.[5] One of the earliest and largest investors in the company was Phillip Frost.[6]

In its early days Protalix operated out of a warehouse in the town of Qiryat Shemona in northern Israel.[7] On July 19, 2005, Protalix Biotherapeutics announced the closing of a $5.3 million private placement of its series C preferred stock.[8] Protalix entered into a partnership agreement with Teva Pharmaceutical Industries in 2006 for the development of two proteins[9] and in 2009 signed a collaboration agreement with Pfizer for the development and commercialization of its taliglucerase alfa treatment.[10] Also in 2009, Protalix reported that Frost & Sullivan presented the company with its 2009 European Orphan Diseases Market Product Innovation of the Year Award.[11] In 2011 Protalix announced that the U.S. Food and Drug Administration had approved the company's manufacturing facility in Karmiel.[12]

Protalix initially became a public company through a reverse merger process with Orthodontix, a company which was at the time traded "over the counter" on the NASDAQ.[13] This merger was completed on December 31, 2006, and is notable as one of the largest reverse mergers executed, valuing the joint entity at almost $1 billion.[14] It subsequently applied for a listing on the AMEX, and sold 10 million shares in a public offering.

Products

Protalix has been using cultured plant cells to manufacture biopharmaceuticals. As of 2012, Protalix has been developing two such products:

See also

References

  1. ↑ "Management". Protalix BioTherapeutics. Retrieved 23 March 2014.
  2. 1 2 3 "Fundamentals", Protalix BioTherapeutics. Retrieved 23 March 2014.
  3. ↑ FDA Extends Review Of Protalix's Rare-Disease Drug
  4. ↑ Investor FAQ
  5. ↑ "Yoseph Shaaltiel Ph.D.". Bloomberg Businessweek. Retrieved 3 May 2012.
  6. ↑ Tsipori, Tali (24 January 2011). "With Protalix worth $801m, chairman Frost cuts stake". Globes. Retrieved 4 May 2012.
  7. ↑ Korenfeld, Tomer (2 ay 2012). 'מי שלא מאמין שיצליח, אין לו מה לחפש במקצוע הזה. נתחיל למכור את התרופה למחלת הגושה כבר בתוך מספר שבועות' ['Whoever doesn't believe he'll succeed has nothing to look for in this field. We'll begin selling the treatment for Gaucher's disease within a few weeks']. Bizportal (in Hebrew). Retrieved 3 May 2012. בעקבות האישור, מנכ"ל פרוטליקס דוד אביעזר התראיין ל-Bizportal על הדרך שעברה חברת הביומד הקטנה שהחלה במוסך בקרית שמונה ועד האישור המיוחל. Check date values in: |date= (help)
  8. ↑ "Protalix raises $ 5.3M in private financing".
  9. ↑ "Teva, Protalix collaborate on two biopharmaceuticals". Drug Discovery News (Rocky River, Ohio: Old River Publications). November 2006. Teva Pharmaceutical Industries Ltd. and Protalix Biotherapeutics Ltd. have signed a collaboration and licensing agreement for the development of two proteins, using Protalix’s plant cell culture platform.
  10. ↑ Loftus, Peter (2 December 2009). "Pfizer-Protalix Deal Bolsters Competition For Genzyme". The Wall Street Journal. Retrieved 3 May 2012.
  11. ↑ "Frost & Sullivan Presents Protalix Biotherapeutics with its 2009 European Orphan Diseases Market Product Innovation of the Year Award". Bloomberg. Business Wire. 4 June 2009. Retrieved 4 May 2012.
  12. ↑ Gorodisher, Jonathan (24 February 2011). "פרוטליקס חושפת: ה-FDA ביקר כבר במפעל בכרמיאל 'מעלה את הסיכוי לאישור'" [Protalix reveals: the FDA already visited the plant in Karmiel 'increases the probability of approval']. Bizportal (in Hebrew). Retrieved 3 May 2012. מפעל הייצור של חברת פרוטליקס בכרמיאל אושר על ידי מנהל המזון והתרופות האמריקני (FDA) בביקורת שנערכה החודש, כך עולה מהדו"חות השנתיים שפרסמה חברת הביומד הבוקר (ה').
  13. ↑ Altman, Arie (2011). Plant Biotechnology and Agriculture: Prospects for the 21st Century. Academic Press. pp. 465–466. ISBN 0-12-381466-9.
  14. ↑ Dresner, Steven (2010). The Issuer's Guide to PIPEs: New Markets, Deal Structures, and Global Opportunities for Private Investments in Public Equity. John Wiley & Sons. p. 286. ISBN 0-470-88349-9.
  15. ↑ Wang, Aiming (2011). Molecular Farming in Plants: Recent Advances and Future Prospects. Springer. p. 60. ISBN 94-007-2216-8.
  16. ↑ Yukhananov, Anna (1 May 2012). "U.S. FDA approves Pfizer/Protalix drug for Gaucher". Chicago Tribune. Reuters. Retrieved 2 May 2012.
  17. ↑ http://www.sciencedirect.com/science/article/pii/S0041008X15300089. Missing or empty |title= (help); External link in |website= (help);
  18. ↑ https://clinicaltrials.gov/show/NCT01093859. Missing or empty |title= (help); External link in |website= (help);

External links

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