Chiesi licenses Protalix's Fabry's disease candidate

Protalix BioTherapeutics Inc. (NYSE-M:PLX; Tel Aviv:PLX) granted Chiesi Farmaceutici S.p.A. (Parma, Italy) ex-U.S. rights to pegunigalsidase alfa (PRX-102), which is in Phase III testing to treat Fabry's disease. Protalix will receive $25 million up front. It is eligible for $25 million in development funding and $320 million in regulatory and commercial milestones, plus royalties.

Protalix will maintain full rights to PRX-102 in the U.S. and will continue to manufacture PRX-102 for clinical development and commercial purposes. The ongoing Phase III BALANCE trial is enrolling 78 patients with Fabry's disease who have received Fabrazyme agalsidase beta from Sanofi (Euronext:SAN; NYSE:SNY)...