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Teva Pharmaceutical Industries Ltd. And Protalix Biotherapeutics Ltd. Announce a Collaboration Agreement for the Development of Two Biopharmaceuticals, Based on Protalix's Recombinant Plant Cell Expression Technology

Posted on: Tuesday, 26 September 2006, 15:01 CDT

Teva Pharmaceutical Industries Ltd. and Protalix Biotherapeutics Ltd.

(Nasdaq: TEVA) have signed a collaboration and licensing agreement for

the development of two proteins, using Protalix's

plant cell culture platform. The undisclosed proteins, aimed at

large-sized markets are not part of Protalix's current product

development pipeline.

In the framework of the agreement signed, the two companies will

collaborate on research and development of the two proteins utilizing

Protalix's expression system. Teva will be granted an exclusive license

from Protalix to commercialize the developed products in return for

royalty and milestone payments to be made to Protalix upon the

achievement of certain pre-defined goals. Protalix will retain certain

exclusive manufacturing rights.

"We believe that accessing Protalix's plant cell culture platform will

provide Teva with various advantages, including IP advantages and

reduced cost of goods," said Amir Elstein, Group Vice President - Global

Specialty Pharmaceutical Products of Teva Pharmaceutical Industries Ltd.

He added, "This cooperation reflects Teva's growing commitment to invest

in the biopharmaceutical arena and to provide safe and efficacious

biopharmaceuticals based on innovation and cutting edge technologies."

Dr. David Aviezer, Protalix's CEO said: "We are very pleased to

collaborate in this program with Teva. Teva is an excellent partner for

maximizing the commercialization of Protalix's protein development

capabilities. This agreement is an important milestone for Protalix,

providing recognition of our technology by a pharmaceutical industry

leader. Furthermore, we believe this new protein collaboration will

generate an important source of future revenue for Protalix and its

partners."

About Protalix

Protalix's proprietary technology is based on its plant cell culture and

bioreactor system which provides an effective and scaleable cell system

for industrial production of recombinant biopharmaceuticals. Protalix

has recently announced that it has completed Phase I clinical studies

for its enzyme therapy for Gaucher disease, under an FDA Investigational

New Drug study. Protalix intends to pursue advanced clinical studies for

its enzyme therapy for Gaucher disease and advance additional

recombinant biopharmaceutical drug development programs.

About Teva

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among

the top 20 pharmaceutical companies in the world and is the leading

generic pharmaceutical company. The company develops, manufactures and

markets generic and innovative human pharmaceuticals and active

pharmaceutical ingredients, as well as animal health pharmaceutical

products. Over 80% of Teva's sales are in

North America and Europe.

Safe Harbor Statement under the U.S. Private Securities Litigation

Reform Act of 1995: This release contains forward-looking statements,

which express the current beliefs and expectations of management. Such

statements are based on management's current

beliefs and expectations and involve a number of known and unknown risks

and uncertainties that could cause Teva`s future results, performance or

achievements to differ significantly from the results, performance or

achievements expressed or implied by such forward-looking statements.

Important factors that could cause or contribute to such differences

include risks relating to Teva's ability to

rapidly integrate Ivax Corporation's

operations and achieve expected synergies, Teva`s ability to

successfully develop and commercialize additional pharmaceutical

products, the introduction of competing generic products, the impact of

competition from brand-name companies that sell or license their own

brand products under generic trade dress and at generic prices (so

called "authorized generics")

or seek to delay the introduction of generic product, the impact of

consolidation of our distributors and customers, regulatory changes that

may prevent Teva from exploiting exclusivity periods, potential

liability for sales of generic products prior to a final resolution of

outstanding litigation, including that relating to the generic versions

of Allegra®, Neurontin®,

Oxycontin® and Zithromax®,

the effects of competition on Copaxone®

sales, including as a result of the reintroduction of Tysabri®

into the market, the impact of pharmaceutical industry regulation and

pending legislation that could affect the pharmaceutical industry, the

difficulty of predicting U.S. Food and Drug Administration, European

Medicines Agency and other regulatory authority approvals, the

regulatory environment and changes in the health policies and structures

of various countries, Teva's ability to

successfully identify, consummate and integrate acquisitions, potential

exposure to product liability claims, dependence on patent and other

protections for innovative products, significant operations worldwide

that may be adversely affected by terrorism or major hostilities,

environmental risks, fluctuations in currency, exchange and interest

rates, operating results and other factors that are discussed in Teva's

Annual Report on Form 20-F and its other filings with the U.S. Securities

and Exchange Commission. Forward-looking statements speak only as of the

date on which they are made and the Company undertakes no obligation to

update publicly or revise any forward-looking statement, whether as a

result of new information, future developments or otherwise.

Source: Business Wire

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