
Orphan Therapeutics Accelerator Announces Foundational Partnerships
BOSTON--(BUSINESS WIRE)--The Orphan Therapeutics Accelerator (OTXL), a non-profit biotech organization focused on completing development and commercializing therapies for ultra-rare conditions, today announced collaborative partnerships with rare disease-focused global biotech and pharmaceutical companies, a contract development and manufacturing organization (CDMO), contract research organization (CRO), and AI-based platform providers, establishing the foundation for a new development and commercialization pathway for ultra-rare disease treatments.
Chiesi and BIAL have committed funding and will become the first OTXL Founding Members, helping to guide and support selection and late-stage development of a set of initial programs expected to be announced in the coming months.
Landmark Bio will help to lower CMC development and manufacturing costs and Uncommon Cures will work together with OTXL to streamline clinical trial processes. DVLP Medicines is providing an end-to-end drug development platform through an early access program, utilizing autonomous AI agents to perform complex analysis and generate plans, reports and other tools for expert use, at a fraction of the time and cost ordinarily required. Vibe Bio will provide AI-based solutions for due diligence and analysis of potential therapeutic assets, enabling highly efficient clinical development, asset management, and other vital functions. These organizations will be the first to participate in Orphan ClinDevNet, a connected ecosystem of partners OTXL will rely on for clinical- and commercial-stage services.
The Orphan Therapeutics Accelerator was established in June 2024 to overcome significant challenges facing ultra-rare disease drug development and commercialization in recent years, driven by shifting financial, market and policy dynamics, which have caused many promising investigational treatments to be abandoned or de-prioritized.
OTXL is focused on obtaining rights to these shelved therapeutic programs, advancing them efficiently and at low cost through clinical trials utilizing Orphan ClinDevNet partners, and providing commercial access through several potential pathways, including directly from academic or non-profit institutions, via spinouts under an affiliated LLC, or out-licensed to mission-aligned biotech partners.
'We're excited to help launch this much-needed collaborative venture,' said Giacomo Chiesi, Head of Global Rare Diseases at Chiesi. 'The recent market dislocation and capital rotation out of biotech have prevented many rare disease research programs from moving forward. We believe rare diseases are a long-term societal responsibility and, with this collaboration, we commit to build partnerships across stakeholders to meet these newly emerging challenges of ultra-rare diseases. Together, we can drive the innovation patients deserve.'
'There is a lot of promising science sitting on the sidelines that could be benefitting children and others facing rare diseases,' said Smitha Jagadish, Head of Rare Diseases of BIAL. 'Often these treatments have delivered meaningful results for patients in clinical trials but research in the field of rare diseases cannot always be approached from a traditional perspective. Our aim in supporting this bold effort is to get more of these treatments back into clinical trials so they may deliver meaningful impact for patients as well as substantial value to those who invest in their development.'
'Many of us involved in this venture have been working in rare diseases for decades,' stated Craig Martin, Founder and CEO of the OTXL. 'We've seen the ebbs and flows and know that this recent stretch isn't merely a 'market correction,' it's a sea change that we need to radically adjust our thinking to confront. We are laser-focused on aggressively addressing the need, at scale, and taking advantage of opportunities as a non-profit to work with regulators, payors, investors and other stakeholders to completely shift the model to work better for patients and families.'
'The landscape for rare diseases has evolved considerably over the past 40 years, but there's still a great need for new ways to advance promising ultra-orphan therapies,' said Jim Geraghty, OTXL Board Chair. 'I hope OTXL and its partners can make an important contribution to this need.'
Funding from Chiesi, BIAL and others will be used to complete evaluations, secure and initiate work on a set of 2-3 lead programs. Additional fundraising is underway for these and other portfolio programs to follow. A portion of the revenue generated from out-licensing or commercializing programs will be returned to the Accelerator to fund more programs as the model is established and expanded.
The Accelerator expects to be self-sustaining within 4-6 years. In so doing, the non-profit can help buffer future portfolios of abandoned ultra-rare disease therapies from market fluctuations, grow to scale and get dozens of these needed therapies to patients rapidly and efficiently.
About the Orphan Therapeutics Accelerator
The Orphan Therapeutics Accelerator (OTXL) is a patient-centered non-profit biotech focused on obtaining and reinitiating development of promising 'shelved' clinical-stage treatments for ultra-rare conditions and providing a scalable and sustainable commercialization path to get these treatments to patients. OTXL leverages its non-profit status, success-based agreements and incentives to obtain rights to shelved programs and complete development at deferred or lower cost via a network of affiliated CDMOs, CROs and other partners. When a program is approved and generates revenue, net proceeds are used to repay and reward contributing partners, companies, and institutions, with a portion returned to the Orphan Therapeutics Accelerator to fund additional programs. Our team is deeply familiar with challenges faced in developing and commercializing treatments for rare conditions and committed to overcoming them. For more information, please visit orphantxl.com.
About Our Founding Members
Chiesi Group is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company's mission is to improve people's quality of life and act responsibly towards both the community and the environment.
By changing its legal status to a Benefit Corporation in Italy, the US, France and Colombia, Chiesi's commitment to creating shared value for society as a whole is legally binding and central to company-wide decision-making. As a certified B Corp since 2019, Chiesi is part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035.
With 90 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,500 employees. The Group's research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden.
BIAL is a hundred-year-old innovation-driven biopharmaceutical company aiming to improve people's lives worldwide. Key focus areas for the company are neurosciences and rare diseases. In Europe, BIAL has a production site and R&D unit in Portugal (headquarters) and affiliates in Spain, Germany, the United Kingdom, Italy, and Switzerland as well as in the US and some emerging markets. BIAL products are present in fifty countries, fulfilling its purpose of making a real difference in the lives of people living with severe diseases across the world. For more information about BIAL, please visit: www.bial.com.
About Our Partners
Landmark Bio was established to remove barriers in drug development, create accessible capability, expertise, and solutions, and offer a collaboration platform to advance manufacturing technologies for the new generation of medicines. (landmarkbio.com)
Uncommon Cures is clinical trial program that is dedicated to expediting the development of orphan drugs through innovative clinical trial design, streamlined clinical trial processes, and strategic relationships with relevant stakeholders and like-minded organizations. (uncommoncures.com)
DVLP Medicines uses autonomous AI agents to develop drugs by digitizing and de-enterprising all aspects of development, from company formation to funding to regulatory review, making it possible to advance molecules that were sidelined—not because they were ineffective therapies but because drug development is so costly and difficult that only a few high-priced medicines ever reach the clinic. (dvlpmedicines.com)
Vibe Bio uses AI to analyze and invest in promising drug programs. Vibe Bio's pipeline analysis platform, VibeOne, uses artificial intelligence to help pharmaceutical companies use due diligence in drug research and development to understand strengths, risks, and probability of success. (vibebio.com)
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Business Wire
23-04-2025
- Business Wire
Orphan Therapeutics Accelerator Announces Foundational Partnerships
BOSTON--(BUSINESS WIRE)--The Orphan Therapeutics Accelerator (OTXL), a non-profit biotech organization focused on completing development and commercializing therapies for ultra-rare conditions, today announced collaborative partnerships with rare disease-focused global biotech and pharmaceutical companies, a contract development and manufacturing organization (CDMO), contract research organization (CRO), and AI-based platform providers, establishing the foundation for a new development and commercialization pathway for ultra-rare disease treatments. Chiesi and BIAL have committed funding and will become the first OTXL Founding Members, helping to guide and support selection and late-stage development of a set of initial programs expected to be announced in the coming months. Landmark Bio will help to lower CMC development and manufacturing costs and Uncommon Cures will work together with OTXL to streamline clinical trial processes. DVLP Medicines is providing an end-to-end drug development platform through an early access program, utilizing autonomous AI agents to perform complex analysis and generate plans, reports and other tools for expert use, at a fraction of the time and cost ordinarily required. Vibe Bio will provide AI-based solutions for due diligence and analysis of potential therapeutic assets, enabling highly efficient clinical development, asset management, and other vital functions. These organizations will be the first to participate in Orphan ClinDevNet, a connected ecosystem of partners OTXL will rely on for clinical- and commercial-stage services. The Orphan Therapeutics Accelerator was established in June 2024 to overcome significant challenges facing ultra-rare disease drug development and commercialization in recent years, driven by shifting financial, market and policy dynamics, which have caused many promising investigational treatments to be abandoned or de-prioritized. OTXL is focused on obtaining rights to these shelved therapeutic programs, advancing them efficiently and at low cost through clinical trials utilizing Orphan ClinDevNet partners, and providing commercial access through several potential pathways, including directly from academic or non-profit institutions, via spinouts under an affiliated LLC, or out-licensed to mission-aligned biotech partners. 'We're excited to help launch this much-needed collaborative venture,' said Giacomo Chiesi, Head of Global Rare Diseases at Chiesi. 'The recent market dislocation and capital rotation out of biotech have prevented many rare disease research programs from moving forward. We believe rare diseases are a long-term societal responsibility and, with this collaboration, we commit to build partnerships across stakeholders to meet these newly emerging challenges of ultra-rare diseases. Together, we can drive the innovation patients deserve.' 'There is a lot of promising science sitting on the sidelines that could be benefitting children and others facing rare diseases,' said Smitha Jagadish, Head of Rare Diseases of BIAL. 'Often these treatments have delivered meaningful results for patients in clinical trials but research in the field of rare diseases cannot always be approached from a traditional perspective. Our aim in supporting this bold effort is to get more of these treatments back into clinical trials so they may deliver meaningful impact for patients as well as substantial value to those who invest in their development.' 'Many of us involved in this venture have been working in rare diseases for decades,' stated Craig Martin, Founder and CEO of the OTXL. 'We've seen the ebbs and flows and know that this recent stretch isn't merely a 'market correction,' it's a sea change that we need to radically adjust our thinking to confront. We are laser-focused on aggressively addressing the need, at scale, and taking advantage of opportunities as a non-profit to work with regulators, payors, investors and other stakeholders to completely shift the model to work better for patients and families.' 'The landscape for rare diseases has evolved considerably over the past 40 years, but there's still a great need for new ways to advance promising ultra-orphan therapies,' said Jim Geraghty, OTXL Board Chair. 'I hope OTXL and its partners can make an important contribution to this need.' Funding from Chiesi, BIAL and others will be used to complete evaluations, secure and initiate work on a set of 2-3 lead programs. Additional fundraising is underway for these and other portfolio programs to follow. A portion of the revenue generated from out-licensing or commercializing programs will be returned to the Accelerator to fund more programs as the model is established and expanded. The Accelerator expects to be self-sustaining within 4-6 years. In so doing, the non-profit can help buffer future portfolios of abandoned ultra-rare disease therapies from market fluctuations, grow to scale and get dozens of these needed therapies to patients rapidly and efficiently. About the Orphan Therapeutics Accelerator The Orphan Therapeutics Accelerator (OTXL) is a patient-centered non-profit biotech focused on obtaining and reinitiating development of promising 'shelved' clinical-stage treatments for ultra-rare conditions and providing a scalable and sustainable commercialization path to get these treatments to patients. OTXL leverages its non-profit status, success-based agreements and incentives to obtain rights to shelved programs and complete development at deferred or lower cost via a network of affiliated CDMOs, CROs and other partners. When a program is approved and generates revenue, net proceeds are used to repay and reward contributing partners, companies, and institutions, with a portion returned to the Orphan Therapeutics Accelerator to fund additional programs. Our team is deeply familiar with challenges faced in developing and commercializing treatments for rare conditions and committed to overcoming them. For more information, please visit About Our Founding Members Chiesi Group is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company's mission is to improve people's quality of life and act responsibly towards both the community and the environment. By changing its legal status to a Benefit Corporation in Italy, the US, France and Colombia, Chiesi's commitment to creating shared value for society as a whole is legally binding and central to company-wide decision-making. As a certified B Corp since 2019, Chiesi is part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035. With 90 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,500 employees. The Group's research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden. BIAL is a hundred-year-old innovation-driven biopharmaceutical company aiming to improve people's lives worldwide. Key focus areas for the company are neurosciences and rare diseases. In Europe, BIAL has a production site and R&D unit in Portugal (headquarters) and affiliates in Spain, Germany, the United Kingdom, Italy, and Switzerland as well as in the US and some emerging markets. BIAL products are present in fifty countries, fulfilling its purpose of making a real difference in the lives of people living with severe diseases across the world. For more information about BIAL, please visit: About Our Partners Landmark Bio was established to remove barriers in drug development, create accessible capability, expertise, and solutions, and offer a collaboration platform to advance manufacturing technologies for the new generation of medicines. ( Uncommon Cures is clinical trial program that is dedicated to expediting the development of orphan drugs through innovative clinical trial design, streamlined clinical trial processes, and strategic relationships with relevant stakeholders and like-minded organizations. ( DVLP Medicines uses autonomous AI agents to develop drugs by digitizing and de-enterprising all aspects of development, from company formation to funding to regulatory review, making it possible to advance molecules that were sidelined—not because they were ineffective therapies but because drug development is so costly and difficult that only a few high-priced medicines ever reach the clinic. ( Vibe Bio uses AI to analyze and invest in promising drug programs. Vibe Bio's pipeline analysis platform, VibeOne, uses artificial intelligence to help pharmaceutical companies use due diligence in drug research and development to understand strengths, risks, and probability of success. (
Yahoo
18-03-2025
- Yahoo
Protalix BioTherapeutics Inc (PLX) Q4 2024 Earnings Call Highlights: Record Revenue Growth ...
Revenue from Selling Goods: $53 million for the year ended December 31, 2024, an increase of 31% from $40.4 million in 2023. Revenue from License and R&D Services: $0.4 million for 2024, a decrease of 98% from $25.1 million in 2023. Cost of Goods Sold: $24.3 million for 2024, an increase of 6% from $23 million in 2023. Research and Development Expenses: $13 million for 2024, a decrease of 24% from $17.1 million in 2023. Selling, General and Administrative Expenses: $12.2 million for 2024, a decrease of 19% from $15 million in 2023. Financial Income, Net: $0.2 million for 2024, compared to financial expenses, net of $1.9 million in 2023. Income Taxes: $1.2 million for 2024, an increase of 300% from $0.3 million in 2023. Cash, Cash Equivalents, and Short-term Bank Deposits: Approximately $34.8 million as of December 31, 2024. Net Income: $2.9 million for 2024, or $0.04 per share, compared to $8.3 million or $0.12 per share basic and $0.09 per share diluted in 2023. Warning! GuruFocus has detected 4 Warning Signs with PLX. Release Date: March 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Protalix BioTherapeutics Inc (PLX) achieved record revenues in 2024, driven by increased sales to partners like Chiesi and Pfizer. The company fully repaid its outstanding debt, strengthening its balance sheet. Protalix is advancing its R&D efforts, particularly with PRX-115, which completed a successful Phase 1 trial and is preparing for Phase 2. The European Medicines Agency validated a new dosing regimen for Elfabrio, potentially expanding its market in the EU. Protalix's collaboration with Chiesi is progressing well, with expectations of significant revenue growth from royalties by 2030. Revenues from license and R&D services decreased by 98% due to the completion of the Elfabrio program. The company expects minimal future revenues from license and R&D services, aside from potential milestone payments. Net income decreased from $8.3 million in 2023 to $2.9 million in 2024, indicating a decline in profitability. Research and development expenses decreased by 24%, which may impact the pace of new product development. Protalix did not provide specific revenue guidance for 2025, creating uncertainty about future financial performance. Q: When do you expect to provide revenue guidance, particularly regarding the royalty stream from Elfabrio, and what can you disclose about its progress? A: Chiesi, being a private company, does not disclose patient numbers or estimated revenues. However, they are adding patients globally to Elfabrio, and we anticipate revenues north of $100 million from Chiesi by 2030. Most revenues will be royalty-based, offering higher margins. We cannot provide guidance for 2025 due to inventory sales, but Chiesi's performance is promising, and our collaboration is strategic for Protalix. - Dror Bashan, President and CEO Q: Can you explain the differences between PRX-119 and the historical PRX-110 program, and provide insights into the market opportunity for PRX-119? A: PRX-119 is a long-acting DNase, whereas PRX-110 was an acute one. We are finalizing indication selection and will update the market soon. Once the indication is finalized, we can provide potential market size details. - Dror Bashan, President and CEO Q: What are the expected costs and timeline for the PRX-115 Phase 2 study, and will you seek a partner for further development? A: We plan to finance the Phase 2 study with current resources, estimating costs north of $20 million for third-party expenses. Topline results are expected in about two years, depending on enrollment pace. If results are positive, we will likely seek a commercial partner. - Dror Bashan, President and CEO Q: Can you elaborate on the mechanism of action for PRX-115 and its impact on urate crystals in gout treatment? A: PRX-115 uses a uricase from a different source than KRYSTEXXA, with a specific peg covering the enzyme. In Phase 1, it reduced uric acid levels quickly and maintained low levels for extended periods. Further results in patients with severe gout will provide more insights. - Dror Bashan, President and CEO Q: Do you have the 4Q Elfabrio revenue number available? A: The 10-K has been filed, which includes the 4Q Elfabrio revenue details. - Eyal Rubin, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
09-12-2024
- Yahoo
Chiesi Global Rare Diseases and Protalix BioTherapeutics Announce Validation of Variation Submission by European Medicines Agency for pegunigalsidase alfa
Application to label a less frequent dosing regimen at a dose of 2 mg/kg body weight administered every four weeks in adult patients with Fabry disease in European Union PARMA, Italy and CARMIEL Israel, Dec. 9, 2024 /PRNewswire/ -- Chiesi Global Rare Diseases, a business unit of the Chiesi Group established to deliver innovative therapies and solutions for people living with rare diseases, and Protalix BioTherapeutics, Inc. (NYSE American: PLX), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, today announced that the European Medicines Agency (EMA) has validated the Variation Submission for pegunigalsidase alfa ▼ to label a less frequent dosing regimen at a dose of 2 mg/kg body weight administered every four weeks in adult patients with Fabry disease. The currently approved dose of pegunigalsidase alfa is 1 mg/kg administered every two weeks. The variation application is supported by a revised Population-PK model and new exposure-response analyses and by the clinical data on pegunigalsidase alfa 2 mg/kg E4W from the completed Phase 3 study PB-102-F50 (BRIGHT) and its ongoing extension study CLI-06657AA1-03 (formerly known as PB-102-F51), that have investigated the 2 mg/kg every four weeks dosing regimen in adult patients with Fabry disease who were previously treated with agalsidase-alfa or -beta administered every two weeks. Results of the completed study PB-102-F50 were recently published in the Journal of Inherited Metabolic Disease. "The validation of this variation application is an important milestone in our efforts to reduce the burden of treatment for some adult patients living with Fabry disease who continue to experience unmet medical needs," said Giacomo Chiesi, Executive Vice President of Chiesi Global Rare Diseases. "We are committed to delivering innovative therapies and solutions for people living with Fabry disease, their families and caregivers." "Based on study results, we believe in the potential of pegunigalsidase alfa 2 mg/kg administered every four weeks to be a beneficial, alternative dosing option for some adults living with Fabry disease," said Dror Bashan, Protalix's President and Chief Executive Officer. "Together with Chiesi, we remain committed to meeting the needs of people with Fabry disease and bringing additional therapeutic options to market. We look forward to continuing to work closely with the agency in the months ahead." Indication and Important Safety Information for Elfabrio® (pegunigalsidase alfa-iwxj) Indication Elfabrio® (pegunigalsidase alfa-iwxj) is indicated for the treatment of adults with confirmed Fabry disease. Important Safety Information WARNING: HYPERSENSITIVITY REACTIONS INCLUDING ANAPHYLAXISPatients treated with Elfabrio have experienced hypersensitivity reactions, including anaphylaxis. Appropriate medical support measures, including cardiopulmonary resuscitation equipment, should be readily available during Elfabrio administration. If a severe hypersensitivity reaction (e.g., anaphylaxis) occurs, discontinue Elfabrio immediately and initiate appropriate medical treatment. In patients with severe hypersensitivity reaction, a desensitization procedure to Elfabrio may be considered. Prior to Elfabrio administration, consider pretreating with antihistamines, antipyretics, and/or corticosteroids. Inform patients and caregivers of the signs and symptoms of hypersensitivity reactions and infusion-associated reactions (IARs) and instruct them to seek medical care immediately if such symptoms occur. If a severe hypersensitivity reaction (including anaphylaxis) or severe IAR occurs, immediately discontinue Elfabrio administration and initiate appropriate medical treatment. If a mild to moderate hypersensitivity reaction or IAR occurs, consider slowing the infusion rate or temporarily withholding the dose. In clinical trials, 20 (14%) Elfabrio-treated patients experienced hypersensitivity reactions. Four Elfabrio-treated patients (3%) experienced anaphylaxis reactions that occurred within 5 to 40 minutes of the start of the initial infusion. The signs and symptoms of hypersensitivity reactions and anaphylaxis included headache, nausea, vomiting, throat tightness, facial and oral edema, truncal rash, tachycardia, hypotension, rigors, urticaria, intense pruritus, moderate upper airway obstructions, macroglossia, and mild lip edema. In clinical trials, 41 (29%) Elfabrio-treated patients experienced one or more infusion-associated reactions, including hypersensitivity, nausea, chills, pruritus, rash, chest pain, dizziness, vomiting, asthenia, pain, sneezing, dyspnea, nasal congestion, throat irritation, abdominal pain, erythema, diarrhea, burning sensation, neuralgia, headache, paresthesia, tremor, agitation, increased body temperature, flushing, bradycardia, myalgia, hypertension, and hypotension. A case of membranoproliferative glomerulonephritis with immune depositions in the kidney was reported during clinical trials. Monitor serum creatinine and urinary protein-to-creatinine ratio. If glomerulonephritis is suspected, discontinue treatment until a diagnostic evaluation can be conducted. When switching to Elfabrio from a prior enzyme replacement therapy, the risk of hypersensitivity reactions and infusion-associated reactions may be increased in certain patients with pre-existing anti-drug antibodies (ADAs). Consider monitoring IgG and IgE ADAs and clinical or pharmacodynamic response (eg, plasma lyso-Gb3 levels). The most common adverse reactions (≥15%) were infusion-associated reactions, nasopharyngitis, headache, diarrhea, fatigue, nausea, back pain, pain in extremity, and sinusitis. Please see Full Prescribing Information for Elfabrio. About Chiesi Global Rare DiseasesChiesi Global Rare Diseases is a business unit of the Chiesi Group established to deliver innovative therapies and solutions for people affected by rare diseases. As a family business, Chiesi Group strives to create a world where it is common to have a therapy for all diseases and acts as a force for good, for society and the planet. The goal of the Global Rare Diseases unit is to ensure equal access so as many people as possible can experience their most fulfilling life. The unit collaborates with the rare disease community around the globe to bring voice to underserved people in the health care system. About Chiesi GroupChiesi is a research-oriented international biopharmaceutical group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company's mission is to improve people's quality of life and act responsibly towards both the community and the environment. By changing its legal status to a Benefit Corporation in Italy, the US, and France, Chiesi's commitment to create shared value for society as a whole is legally binding and central to company-wide decision-making. As a certified B Corp since 2019, we're part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035. With over 85 years of experience, Chiesi is headquartered in Parma (Italy), with 31 affiliates worldwide, and counts more than 7,000 employees. The Group's research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden. About Protalix BioTherapeutics, is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx®. It is the first company to gain FDA approval of a protein produced through plant cell-based in suspension expression system. This unique expression system represents a new method for developing recombinant proteins in an industrial-scale manner. Protalix's second product, pegunigalsidase alfa, was approved by both the FDA and the EMA in May 2023. Protalix has partnered with Chiesi Farmaceutici S.p.A. for the global development and commercialization of pegunigalsidase alfa. Protalix BioTherapeutics' Forward-Looking StatementsTo 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. The terms "expect," "anticipate," "believe," "estimate," "project," "may," "plan," "will," "would," "should" and "intend," and other words or phrases of similar import are intended to identify forward-looking statements. 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 Protalix's current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk and the final results of a clinical trial may be different than the preliminary findings for the clinical trial. Factors that might cause material differences include, among others: risks related to the commercialization of pegunigalsidase alfa (pegunigalsidase alfa-iwxj), Protalix's approved product for the treatment of adult patients with Fabry disease; risks relating to pegunigalsidase alfa market acceptance, competition, reimbursement and regulatory actions, including as a result of the boxed warning contained in the FDA approval received for the product; the possible disruption of Protalix's operations due to the war declared by Israel's security cabinet against the Hamas terrorist organization located in the Gaza Strip, the military campaign against the Hezbollah and other terrorist activities and armed conflict, including as a result of the disruption of the operations of certain regulatory authorities and of certain of Protalix's suppliers, collaborative partners, licensees, clinical trial sites, distributors and customers, and the risk that the current hostilities will result in a greater regional conflict; delays in the approval or potential rejection of any applications filed with the FDA, EMA or other health regulatory authorities for Protalix's product candidates, and other risks relating to the review process; the risk that the results of clinical trials will not support the applicable claims of safety or efficacy; risks related to the amount and sufficiency of our cash and cash equivalents; risks relating to changes to published interim, topline or preliminary data from clinical trials; the inherent risks and uncertainties in developing drug platforms and products of the type we are developing; the impact of development of competing therapies and/or technologies by other companies; and risks relating to changes in healthcare laws, rules and regulations in the United States or elsewhere; and other factors described in Protalix's filings with the U.S. Securities and Exchange Commission. The statements in this press release are valid only as of the date hereof and Protalix disclaims any obligation to update this information, except as may be required by law. Chiesi Group Media Contacts Chiara TravaginHead of Communications, Rare DiseasesTel: +39 348 8818985Email: Adam DaleyBerry & Company Public Relations Tel: +1 212 253 8881Email: adaley@ Protalix Investor Contact Mike Moyer, Managing DirectorLifeSci AdvisorsTel: +1-617-308-4306Email: mmoyer@ PP-RA-00423 V1.0 View original content to download multimedia: SOURCE Chiesi Global Rare Diseases and Protalix BioTherapeutics, Inc. Sign in to access your portfolio