Protalix BioTherapeutics Business Summary

Protalix BioTherapeutics, Inc. (PLX) is a commercial-stage biopharmaceutical company that generates revenue through the development, manufacturing, and global licensing of recombinant therapeutic proteins produced via its proprietary ProCellEx® plant cell-based expression system. The company’s revenue model is primarily driven by three streams: product sales of Elfabrio® (pegunigalsidase alfa) to its global partner Chiesi Global Rare Diseases, royalties and manufacturing sales of Elelyso® (taliglucerase alfa) through a long-standing partnership with Pfizer, and milestone-based payments from its clinical pipeline. Its primary business segments focus on the commercialization of treatments for lysosomal storage disorders and the clinical advancement of candidates like PRX-115 for uncontrolled gout and PRX-119 for rare renal diseases. Protalix competes directly with Sanofi (Fabrazyme), Takeda (Replagal), and Amicus Therapeutics (Galafold) in the Fabry disease market. As the only company with an FDA-approved plant-cell-expressed protein, Protalix occupies a specialized market niche, offering a scalable, animal-free manufacturing alternative that reduces the risk of mammalian viral contamination and immunogenicity. The leadership team is led by President and CEO Dror Bashan, who joined in 2019 after over 20 years at Teva Pharmaceutical Industries, where he served as Senior VP of Global Business Development. In August 2025, the company strengthened its financial leadership by appointing Gilad Mamlok as Senior VP and CFO, bringing 30 years of experience from roles at TytoCare and Sol-Gel Technologies. The company’s scientific foundation remains anchored by co-founder Dr. Yoseph Shaaltiel, the inventor of the ProCellEx platform, while operations are managed by SVP Yaron Naos, a 20-year veteran of the firm. Protalix is governed by a board chaired by Dr. Eliot Forster and includes notable directors such as Zeev Bronfeld and Gwen Melincoff. Major institutional and strategic investors include BlackRock, The Vanguard Group, and Dexcel Pharma (Pharma Technologies Ltd.), reflecting a stable capital structure as the company transitions into a profitable commercial entity with a focus on rare renal and inflammatory indications.