Navigation Links
Protalix BioTherapeutics Signs Lease Agreement for Expansion of its Manufacturing and Research Facility in Carmiel, Israel
Date:1/14/2008

CARMIEL, Israel, Jan. 14 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (Amex: PLX), announced today that it has signed a lease agreement for the expansion of its manufacturing and research facility. The expanded space, located in the Company's facility in Carmiel, Israel, will provide the Company with approximately three times its current manufacturing space in anticipation of the potential commercialization of the Company's lead product candidate, prGCD, a therapeutic protein for the treatment of Gaucher disease.

The term of the lease agreement is 7.5 years with options to extend the life of the lease for up to 15 additional years. The Company intends to use the expanded facility for the manufacture of prGCD. The Company expects the facility to continue enjoying the Approved Enterprise status originally granted to the facility by the Investment Center of the Israeli Ministry of Industry, Trade and Labor. Under Israel's Law for the Encouragement of Capital Investments, 1959, the income from an Approved Enterprise will be exempt from taxation in Israel for a period of 10 years, commencing with the year in which taxable income is first generated from the Approved Enterprise.

Commenting on the expansion of the manufacturing facility, Yossi Maimon, the Company's Chief Financial Officer, said, "In light of the progress we have made to date in our prGCD program, we determined that we should commence the expansion of our current facility. Our expanded facility will provide us with the space and capacity required to bring prGCD to market and meet the anticipated demand for the drug following its anticipated approval by the United States Food and Drug Administration, while continuing to advance the research of the additional product candidates in our development pipeline."

About Protalix BioTherapeutics, Inc.

Protalix is a biopharmaceutical company. Its goal is to become a fully integrated biopharmaceutical company focused on the development and commercialization of proprietary recombinant therapeutic proteins to be expressed through its proprietary plant cell based expression system. Protalix's ProCellEx(TM) presents a proprietary method for the expression of recombinant proteins that Protalix believes is safe and scalable and will allow for the cost-effective, industrial-scale production of recombinant therapeutic proteins. Protalix is enrolling and treating patients in its pivotal phase III clinical trial in Israel, the United States and other locations for its lead product candidate, prGCD, for its enzyme replacement therapy for Gaucher disease, a lysosomal storage disorder in humans, and has reached an agreement with the United States Food and Drug Administration on the final design of the pivotal phase III clinical trial through the FDA's Special Protocol Assessment (SPA) process. Protalix is also advancing additional recombinant biopharmaceutical drug development programs.

Safe Harbor Statement:

To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies and products under development, the identification of lead compounds, the successful preclinical development of our products, the completion of clinical trials, the review process of the FDA, foreign regulatory bodies and other governmental regulation, and other factors described in our filings with the Securities and Exchange Commission. The statements are valid only as of the date hereof and we disclaim any obligation to update this information.

For additional information, contact Protalix BioTherapeutics at: investors@protalix.com


'/>"/>
SOURCE Protalix BioTherapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Protalix BioTherapeutics Sets Record Date for Annual Meeting of Shareholders
2. Protalix BioTherapeutics to Present at CIBC World Markets 18th Annual Healthcare Conference
3. Protalix BioTherapeutics Announces Pricing of Public Offering of Common Stock
4. Protalix BioTherapeutics Announces Public Offering of Common Stock
5. Protalix BioTherapeutics to Present at UBS Global Life Sciences Conference
6. Lonza Withdraws Majority of Claims in Patent Lawsuit Against Northwest Biotherapeutics
7. Northwest Biotherapeutics, Inc. Announces Appointment of Chief Financial Officer
8. Juvaris BioTherapeutics Announces Six Scientific Presentations at Infectious Diseases Society of America (IDSA) Meeting October 6, 2007
9. Pieris Validates the Use of Anticalins(R) as Ophthalmologic Biotherapeutics
10. University of Maryland, Baltimore BioPark Signs Gliknik Inc. as First Tenant in Its BioInnovation Center in Building Two
11. Amic Signs Non-Exclusive License Agreement With Roche Diagnostics for Key Cardiac Marker NT-proBNP
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... Regen BioPharma Inc. (OTCQB: RGBPP) In a recent ... team of scientists in Guangzhou, China ... of NR2F6 in patients with early cervical cancer correlates with ... cancer tissue as well as in the normal tissue surrounding ... study and the first that I am aware of that ...
(Date:12/7/2016)... ... ... Dwyer Dodge grew up hearing stories of the sea monster her father pulled from the ... turtle entangled in the lines of one of his lobster pots. He freed it and ... could remember ever seeing one so large so close to shore. After a couple of ...
(Date:12/6/2016)... ... ... Discovering new clues to natural treatments that could allow our bodies to ... And searching for keys to our immune systems by studying parasite-resistant fish. These are ... Edith and Peter O’Donnell Awards by The Academy of Medicine, Engineering and ...
(Date:12/6/2016)... SAN DIEGO , Dec. 6, 2016 ... of Santosh Kesari , MD, PhD, FANA, FAAN ... his experience in neurology and clinical trials to assist ... for treatment of stroke. The AmnioStem product is a universal ... previously shown therapeutic activity in animal models of stroke ...
Breaking Biology Technology:
(Date:12/7/2016)... Avanade is helping Williams Martini Racing, one of ... biometric data in order to critically analyse every aspect ... against their rivals after their impressive, record-breaking pit stop ... with Williams during the 2016 season to capture and ... rate, temperature and peak acceleration) for key members of ...
(Date:12/6/2016)... Securus Technologies, a leading provider of ... safety, investigation, corrections and monitoring, and the Prison ... (5) year funding commitment by Securus to PEP ... and reentry support to more inmates and their ... the Prison Entrepreneurship Program (PEP) is an independent ...
(Date:11/30/2016)... Nov. 30, 2016 Not many of us realize that we spend ? ... so we need to do it well. Inadequate sleep levels have been found to ... stroke, diabetes, and even cancer. Maybe now is the best time to ... help them to manage their sleep quality? Continue Reading ... ...
Breaking Biology News(10 mins):