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Protalix sells ELELYSO deal share, nets $46M
November 2015
SHARING OPTIONS:

CARMIEL, Israel—Protalix BioTherapeutics Inc. recently sold its share in the collaboration agreement for ELELYSO to Pfizer Inc., its commercialization partner. The initial collaboration agreement stipulated that the companies would share revenues and expenses for developing and commercializing ELELYSO on a 60/40 basis globally, with the exception of Israel and Brazil. As amended, Pfizer is responsible for 100 percent of expenses and entitled to all global revenues for the drug excluding Brazil, where Protalix will handle expenses and retain revenues. Pfizer will pay Protalix $36 million in cash for its share in the agreement and the Israeli territory, and, in conjunction with a stock purchase agreement, will make a $10-million investment in exchange for 5,649,079 shares of Protalix common stock. Protalix intends to leverage the funds to advance its clinical pipeline, said Moshe Manor, the company’s president and CEO.

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