PROTALIX BIOTHERAPEUTICS, INC. (PLX)

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Protalix BioTherapeutics Signs Agreement to License Acetylcholinestrase Development Technology

Press Release Source: Protalix BioTherapeutics, Inc.
http://biz.yahoo.com/prnews/070808/nyw056.html?.v=100

Wednesday August 8, 9:30 am ET
Protalix BioTherapeutics to Explore Biodefense and Civilian Applications with Researchers from Hebrew University of Jerusalem

CARMIEL, Israel, Aug. 8 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (Amex: PLX - News), today announced it has signed an agreement with the Yissum Research and Development Company, the technology transfer arm of the Hebrew University of Jerusalem, Israel, and the Boyce Thompson Institute for Plant Research, at Cornell University, Ithaca, New York, to develop a proprietary plant cell-based acetylcholinestrase (AChE) and its molecular variants for the use in several therapeutic and prophylactic indications, including a biodefense program.

Under the agreement, Protalix has licensed the technology underlying acetylcholinestrase from Hebrew University and Boyce Thompson.

The initial feasibility research on AchE has demonstrated the potential for the enzyme and its variants in multiple therapeutic fields. In vitro experiments have also shown that the AChE protein expressed in Protalix's plant cell ProCellEx(TM) system demonstrates promising biological activity at both the biochemical and the cellular levels.

The work is based on research conducted in the laboratory of Professor Hermona Soreq, Dean of Faculty of Science at the Hebrew University of Jerusalem, Israel, a world leader in the field of acetylcholinestrase research.

Professor Soreq said, "After many years of research, we have come to understand the many translational benefits which can be achieved from using the AChE protein for therapeutic applications. We look forward to working with the Protalix team, and we are confident that its plant cell-based technology enhances our ability to address the many applications for this enzyme and its specific variants."

Dr. David Aviezer, President and CEO of Protalix, added, "We are excited to be able to collaborate with Professor Soreq and her colleagues on this project, and that they recognize the value of Protalix's plant cell-based technology platform. We believe the development program for AChE has significant potential, both in the growing biodefense market and in the civilian pharmaceutical arena."

Nava Swersky Sofer, President & CEO of Yissumn noted, "We are delighted to collaborate with Protalix to commercialize the discoveries made by Professor Soreq and her team. Protalix's technology platform is an excellent fit for Professor Soreq's discoveries in the field of AChE for use in the biodefense area and in other therapeutic applications, and we also feel confident that the Protalix's strong team can develop these technologies to products. Yissum is particularly pleased to bring another one of Professor Soreq's discoveries to a commercial partnership with a strong partner."

About Protalix BioTherapeutics, Inc.
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