Type Public Products Elelyso Headquarters Karmiel, Israel Founder Yoseph Shaaltiel Number of employees 266 (2013) | Industry Biotechnology Website www.protalix.com Revenue 11.51 million USD (2013) Founded 1993 Total assets 113.3 million USD (2013) | |
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Traded as NYSE MKT: PLX
TASE: PLX Key people Shlomo Yanai (Interim Chairman)
Moshe Manor (CEO) Stock price PBD (FRA) € 1.06 -0.02 (-1.86%)28 Mar, 8:05 AM GMT+2 - Disclaimer | ||
Protalix biotherapeutics inc plx stock chart technical analysis for 12 28 16
Protalix BioTherapeutics is an Israeli pharmaceutical company whose plant-based enzyme, taliglucerase alfa, has been approved by the U.S. Food and Drug Administration for the treatment of Gaucher disease.
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Protalix biotherapeutics inc plx stock chart technical analysis for 12 14 16
Corporate history
Protalix BioTherapeutics was established in 1993. It was founded by Yoseph Shaaltiel, who received his Ph.D. in Plant Biochemistry from the Weizmann Institute in Israel and served in the Biology Department of the Israel Defense Forces' Biological and Chemical Center. One of the earliest and largest investors in the company was Phillip Frost.
In its early days Protalix operated out of a warehouse in the town of Qiryat Shemona in northern Israel. On July 19, 2005, Protalix Biotherapeutics announced the closing of a $5.3 million private placement of its series C preferred stock. Protalix entered into a partnership agreement with Teva Pharmaceutical Industries in 2006 for the development of two proteins and in 2009 signed a collaboration agreement with Pfizer for the development and commercialization of its taliglucerase alfa treatment. Also in 2009, Protalix reported that Frost & Sullivan presented the company with its 2009 European Orphan Diseases Market Product Innovation of the Year Award. In 2011 Protalix announced that the U.S. Food and Drug Administration had approved the company's manufacturing facility in Karmiel.
Protalix initially became a public company through a reverse merger process with Orthodontix, a company which was at the time traded "over the counter" on the NASDAQ. This merger was completed on December 31, 2006, and is notable as one of the largest reverse mergers executed, valuing the joint entity at almost $1 billion. It subsequently applied for a listing on the AMEX, and sold 10 million shares in a public offering.
Products
Protalix has been using cultured plant cells to manufacture biopharmaceuticals. As of 2012, Protalix has been developing two such products: