Protalix scores $25M milestone from Pfizer

The FDA's recent decision to approve the new Gaucher disease drug Elelyso (taliglucerase alfa) has triggered a $25 million payday for the Israeli biotech Protalix BioTherapeutics ($PLX). Pfizer ($PFE) partnered on the plant-derived enzyme treatment for the rare disease back in late 2009. Pfizer followed GlaxoSmithKline ($GSK) and other pharma companies that journeyed into the rare disease arena, paying $60 million upfront to partner with Protalix and agreeing to pay out up to $55 million in milestones. Pfizer holds the commercial rights to the drug outside of Israel. Story