Protalix Ltd.

Protalix BioTherapeutics (NYSE: PLX) announced that the Company sold its share in the collaboration agreement for ELELYSO to its commercialization partner, Pfizer Inc. (NYSE: PFE). Under the initial collaboration agreement, Pfizer and the Company shared revenues and expenses for the development and commercialization of ELELYSO on a 60%/40% basis globally, excluding Israel and Brazil. As amended, Pfizer is responsible for 100% of expenses, and entitled to all of the revenues, globally for ELELYSO, excluding Brazil, where the Company will be responsible for all expenses and retain all revenues.

Pfizer and Protalix have entered into an agreement to develop and commercialize taliglucerase alfa, a plant-cell expressed form of glucocerebrosidase (GCD) in development for the potential treatment of Gaucher’s disease. Under the agreement, Pfizer will make an upfront payment of $60m to Protalix. In addition, Protalix is eligible to receive additional regulatory milestone payments of up to $55m. Pfizer and Protalix will share future revenues and expenses for the development and commercialization of taliglucerase alfa on a 60 percent/40 percent basis respectively.