Protalix Biotherapeutics Inc. (AMEX:PLX; TASE: PLX) announced today that it has signed an agreement with Pfizer Inc (NYSE: PFE; LSE: PFZ) for further clinical trials of Elelyso (taliglucerase alfa) for the treatment of Gaucher disease. Protalix is currently sponsoring adult and pediatric extension studies of Elelyso but new clinical trials for Elelyso will now be conducted and sponsored by Pfizer.
Under the terms of the agreement, Protalix is eligible to receive a milestone payment of $8.3 million upon the achievement of certain near-term clinical development milestones.
Protalix said that this agreement helps to maintain the continuity of the ongoing clinical trials for Gaucher patients and physicians.
In 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.
Protalix earned a $25 million milestone payment from Pfizer after the US Food and Drug Administration approved Elelyso last May, but missed out on a second $25 million payment when the European Commission refused to approve the drug.
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2012
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