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Protalix BioTherapeutics, Inc. (PLX) Message Board

  • robbie1165 robbie1165 Jul 1, 2013 2:36 PM Flag

    Two mentions in "The Scientist"

    "And, most important to its success, the Israeli biotech sector has had a steady infusion of government money. A federal incubator program offers fledgling entrepreneurs, even those with just an idea, seed money of $425,000 to $680,000, to be paid back only upon the company’s success. Protalix BioTherapeutics, one of Israel’s oft-cited success stories, was the recipient of such a grant. Overall, the Office of the Chief Scientist, the government agency that distributes R&D funds, has an annual budget of $300 million distributed to an average of 1,000 projects proposed by 500 companies"

    "This is a common theme among Israeli biotechs, which, though strong in innovation, do not have the funds or expertise to get drug candidates through Phase 3 and onto the market. One of Israel’s most-cited biotech success stories exemplifies this trend. Last year, the FDA approved Protalix’s enzyme therapy for Gaucher disease, the first pharmaceutical to be made in a plant-cell culture manufacturing system. But to develop and commercialize the drug, Protalix partnered with Pfizer—and has already made a cool $98 million as a result."

 
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