Protalix BioTherapeutics Seeks Multiple Collaborative Partnerships To Complement Core Platform

(RTTNews) - Protalix BioTherapeutics, Inc. (PLX), a biopharmaceutical company, said Wednesday that its President and Chief Executive Officer Dror Bashan has sent an annual letter to the company's shareholders and the investment community.

In the 2020 letter to shareholders, Bashan said that together with Chiesi Global Rare Diseases, the company's development and commercialization partner, it has submitted a Biologics License Application (BLA) to the U.S. Food and Drug Administration or FDA for PRX-102, for the treatment of adult patients with Fabry disease.

The company is looking forward to commercializing PRX-102 assuming the anticipated approval of the BLA in the second half of 2021.

Further, the company has advanced its pipeline of candidates utilizing ProCellEx, its proprietary protein expression system platform technology. The company is also continuing to seek multiple collaborative partnerships to complement its core platform.

Protalix has raised about $44 million in March 2020 from the sale of common stock and warrants in a private placement to certain existing and new institutional and other accredited investors. Subsequent to the completion of the private placement, the company established an at-the-market (ATM) offering through Bank of America Securities Inc. through which it can raise up to $30 million.

The Protalix CEO added that the company has appointed Yael Hayon as Vice President, Research and Development.