Protalix BioTherapeutics, Inc. (NYSE-MKT:PLX) (TASE:PLX), has entered into a Clinical Development Agreement with Pfizer Inc. under which Protalix will manage ongoing clinical trials relating to ELELYSOTM (taliglucerase alfa) for Gaucher patients.
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Protalix is eligible to receive a milestone payment of $8.3 million upon the achievement of certain near-term clinical development milestones.
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.