Collaboration and license agreement for Chiesi

Italy-based Chiesi Farmaceutici closed a global license and collaboration agreement (except the U.S.) with Protalix BioTherapeutics to develop and commercialise PRX-102 (pegunigalsidase alpha), a recombinant and chemically modified version of alpha-galactosidase A. Chiesi will initially pay Protalix $25 million to cover development costs and up to $ 320 million for regulatory and commercial milestones. PRX-102 has been developed using Protalix’s ProCellEx® proprietary system to treat Fabry’s disease.