PROTALIX BIOTHERAPEUTICS, INC. (PLX)

[midastouch017]

I remotely recall that Chiesi paid of some of
PLX debts in return to reduced milestone
$ amounts.
I'll try looking up this PLX-Chiesi agreement.

This was the initial agreement:
https://protalixbiotherapeutics.gcs-web.com/news-releases/news-release-details/protalix-biotherapeutics-expands-partnership-chiesi-farmaceutici


Protalix to receive $25 million upfront, an additional up to $20 million in development costs and an aProtalix BioTherapeutics Expands Partnership with Chiesi Farmaceutici to Include Exclusive U.S. Rights for the Development and Commercialization of PRX-102 (pegunigalsidase alfa) for thdditional up to $760 million in potential regulatory and commercial milestone payments for the U.S. rights

U.S. partnership includes tiered royalties ranging from 15% to 40% on net sales

CARMIEL, Israel, July 24, 2018 (GLOBE NEWSWIRE) -- Protalix BioTherapeutics, Inc. (NYSE American:PLX) (TASE:PLX), a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx®, today announced the expansion of its partnership with Chiesi Farmaceutici S.p.A., or Chiesi. Protalix and Chiesi entered into an exclusive U.S. license and supply agreement which grants to Chiesi the United States rights for the development and commercialization of PRX-102 (pegunigalsidase alfa), the Company’s chemically modified version of the recombinant protein alpha-Galactosidase-A protein, for the treatment of Fabry disease. In October 2017, Protalix announced an exclusive partnership with Chiesi for the development and commercialization of PRX-102 for the treatment of Fabry disease outside the United States.

Under the terms of the U.S. license and supply agreement, Protalix is entitled to an upfront payment of $25 million from Chiesi and additional payments of up to a maximum of $20 million in development costs, capped at $7.5 million per year. Protalix is also eligible to receive an additional up to a maximum of $760 million, in the aggregate, in regulatory and commercial milestone payments, and tiered royalties ranging from 15% to 40% on net sales as consideration for product supply. Protalix will continue to be the manufacturer of PRX-102 for clinical development and commercial purposes.

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This agreement was modified at By:
/s/ Eyal Rubin/s/ Dror Bashan
Title:CFOCEO
Name:Eyal RubinDror Bashan
Date:5/13/20215/13/2021
https://www.sec.gov/Archives/edgar/data/1006281/000155837021007157/plx-20210331xex10d3.htm