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<SEC-DOCUMENT>0000950123-09-067060.txt : 20091201
<SEC-HEADER>0000950123-09-067060.hdr.sgml : 20091201
<ACCEPTANCE-DATETIME>20091201072918
ACCESSION NUMBER:		0000950123-09-067060
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091130
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091201
DATE AS OF CHANGE:		20091201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Protalix BioTherapeutics, Inc.
		CENTRAL INDEX KEY:			0001006281
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				650643773
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33357
		FILM NUMBER:		091213559

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORTHODONTIX INC
		DATE OF NAME CHANGE:	19980422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMBASSY ACQUISITION CORP
		DATE OF NAME CHANGE:	19960124
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y02669e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): December&nbsp;1, 2009 (November&nbsp;30, 2009)</B><BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Protalix BioTherapeutics, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Florida</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-33357</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>65-0643773</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Snunit Street</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>20100</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Science Park</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>POB 455 Carmiel, Israel</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: <B>&#043;972-4-988-9488</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable</B><BR>
(Former name or former address, if changed since last report)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!--TOC-->
<!--/TOC-->






<!-- link1 "Item&nbsp;1.01. Entry into a Material Definitive Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On December&nbsp;1, 2009, Protalix BioTherapeutics, Inc. (the &#147;Company&#148;) and Pfizer Inc. (&#147;Pfizer&#148;)
announced that the Company&#146;s wholly owned subsidiary, Protalix Ltd. (&#147;Protalix&#148;), had entered into
an Exclusive License and Supply Agreement, dated November&nbsp;30, 2009, with Pfizer (the &#147;License
Agreement&#148;), to develop and commercialize taliglucerase alfa, a plant-cell expressed form of
glucocerebrosidase (GCD)&nbsp;in development for the potential treatment of Type 1 Gaucher&#146;s disease.
Under the terms of the License Agreement, Pfizer will receive exclusive worldwide licensing rights
for the commercialization of taliglucerase alfa, while Protalix will retain the exclusive
commercialization rights in Israel. Pfizer will make an upfront payment of $60&nbsp;million to
Protalix. Protalix is eligible to receive additional regulatory milestone payments of up to $55
million. In addition, Pfizer and Protalix will share future revenues and expenses for the
development and commercialization of taliglucerase alfa on a 60&nbsp;percent/40&nbsp;percent basis,
respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The License Agreement includes mutual non-competition covenants for a specified period and subject
to specified exceptions, as well as customary termination provisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has agreed to unconditionally guarantee the obligations and liabilities of Protalix
under the License Agreement.
</DIV>

<!-- link1 "Item&nbsp;8.01. Other Events" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01. Other Events</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On December&nbsp;1, 2009, the Company and Pfizer Inc. issued a press release announcing the entry into
the License Agreement. A copy of the press release is attached as Exhibit&nbsp;99.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
</DIV>

<!-- link1 "Item&nbsp;9.01. Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Exhibits</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press Release dated December&nbsp;1, 2009</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Protalix BioTherapeutics, Inc.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: December 1, 2009&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David Aviezer
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David Aviezer, Ph.D.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "Exhibit&nbsp;Index" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Exhibit&nbsp;Index
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated December&nbsp;1, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y02669exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;99.1
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="53%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">For Immediate Release:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Pfizer Contacts:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">December&nbsp;1, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joan Campion (Media)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">212&nbsp; 733-2798</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joan.Campion@Pfizer.com</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suzanne Harnett (Investors)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">212&nbsp; 733-8009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suzanne.Harnett@Pfizer.com</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Protalix Contacts:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Brad Miles (Media)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BMC Communications Group, LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bmiles@bmccommunications.com</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">917&nbsp; 570 &nbsp;7340</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Marcy Nanus (Investors)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Trout Group, LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">646&nbsp; 378&nbsp; 2927</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mnanus@troutgroup.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Pfizer And Protalix Enter Into Agreement To Develop And Commercialize Gaucher&#146;s Disease Treatment</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&#150;
&#150; &#150;

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>New Drug Application (NDA)&nbsp;expected to be filed with FDA for novel enzyme replacement therapy with
Fast Track Orphan Drug designation</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>New York, NY, 2009 </B>&#151; Pfizer (NYSE: PFE) and Protalix (NYSE-Amex: PLX) today announced that they
have entered into an agreement to develop and commercialize taliglucerase alfa, a plant-cell
expressed form of glucocerebrosidase (GCD)&nbsp;in development for the potential treatment of Gaucher&#146;s
disease. Under the terms of the agreement, Pfizer will receive exclusive worldwide licensing
rights for the commercialization of taliglucerase alfa, while Protalix will retain the exclusive
commercialization rights in Israel. Taliglucerase alfa is the first enzyme replacement therapy
derived from a proprietary plant cell-based expression platform using genetically engineered carrot
cells.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With the successful completion of Phase III clinical studies, Protalix is preparing to complete a
rolling New Drug Application (NDA)&nbsp;with the U.S. Food and Drug Administration (FDA). The FDA has
granted Orphan Drug designation and Fast Track status, facilitating the development and expediting
the review of drugs to treat rare conditions or diseases, as well as an Emergency Use
Authorization. The FDA has also requested, and subsequently approved, an Expanded Access Program
(EAP)&nbsp;treatment protocol. Taliglucerase alfa is
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">currently being provided to Gaucher&#146;s patients in the U.S. under the EAP protocol, as well as to
patients in the European Union under a compassionate use protocol.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We are excited about this collaboration, which represents a significant step towards bringing, for
the first time, a plant-based enzyme replacement treatment option to patients affected by Gaucher&#146;s
disease,&#148; commented Dr.&nbsp;David Aviezer, president and CEO of Protalix. &#147;By joining our advances in
biologics manufacturing and protein development with Pfizer&#146;s global strengths in patient services
and reimbursement we expect to help make taliglucerase alfa an important and cost-effective
treatment choice for Gaucher&#146;s patients throughout the world.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the agreement, Pfizer will make an upfront payment of $60&nbsp;million to Protalix. In addition,
Protalix is eligible to receive additional regulatory milestone payments of up to $55&nbsp;million.
Pfizer and Protalix will share future revenues and expenses for the development and
commercialization of taliglucerase alfa on a 60&nbsp;percent/40&nbsp;percent basis respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;By combining our respective strengths to advance this innovative therapy, Pfizer and Protalix
expect to quickly deliver an alternative treatment for people suffering from Gaucher&#146;s disease,&#148;
said David Simmons, president and general manager of Pfizer&#146;s Established Products Business Unit.
&#147;This agreement supports our goal to meet the needs of many patient populations, including those
affected by rare diseases, and brings the best minds together to challenge the most feared diseases
of our time.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Peter L. Saltonstall, President and CEO, National Organization for Rare Disorders (NORD)&nbsp;stated,
&#147;NORD is always pleased when treatment options are expanded for people with rare diseases. We
welcome Pfizer&#146;s commitment to the rare disease arena, and look forward to working with both Pfizer
and Protalix in support of increased options for patients and families affected by rare diseases.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>About Gaucher&#146;s disease</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gaucher&#146;s disease, an inherited condition, is the most prevalent lysosomal storage disorder, with
an incidence of about 1 in 20,000 live births. People with Gaucher&#146;s disease do not have enough of
an enzyme, &beta;&#150;glucosidase (glucocerebrosidase)&nbsp;that breaks down a certain type of fat molecule. As a
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">result, lipid engorged cells (called Gaucher cells) amass in different parts of the body, primarily
the spleen, liver and bone marrow. Accumulation of Gaucher cells may cause spleen and liver
enlargement, anemia, excessive bleeding and bruising, bone disease and a number of other signs and
symptoms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>About Protalix</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Protalix is a biopharmaceutical company focused on the development and commercialization of
proprietary recombinant therapeutic proteins expressed through its proprietary plant cell based
expression system. Protalix&#146;s
ProCellEx<SUP style="font-size: 85%; vertical-align: text-top"><SUP style="font-size: 85%; vertical-align: text-top">(</SUP>&#153;<SUP style="font-size: 85%; vertical-align: text-top">)</SUP></SUP> presents a proprietary method for the
expression of recombinant proteins that Protalix believes will allow for the cost-effective,
industrial-scale production of recombinant therapeutic proteins in an environment free of mammalian
components and viruses. Protalix is also advancing additional recombinant biopharmaceutical drug
development programs. Taliglucerase alfa is an enzyme replacement therapy in development under a
Special Protocol Assessment with FDA for Gaucher&#146;s disease.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Pfizer Inc.: Working together for a healthier world&#153;</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At Pfizer, we apply science and our global resources to improve health and well-being at every
stage of life. We strive to set the standard for quality, safety and value in the discovery,
development and manufacturing of medicines for people and animals. Our diversified global health
care portfolio includes human and animal biologic and small molecule medicines and vaccines, as
well as nutritional products and many of the world&#146;s best-known consumer products. Every day,
Pfizer colleagues work across developed and emerging markets to advance wellness, prevention,
treatments and cures that challenge the most feared diseases of our time. Consistent with our
responsibility as the world&#146;s leading biopharmaceutical company, we also collaborate with health
care providers, governments and local communities to support and expand access to reliable,
affordable health care around the world. For more than 150&nbsp;years, Pfizer has worked to make a
difference for all who rely on us. To learn more about our commitments, please visit us at
www.pfizer.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>DISCLOSURE NOTICE: The information contained in this release is as of December&nbsp;1, 2009, and neither
Pfizer nor Protalix assume any obligation to update forward-looking statements contained in this
release as the result of new information or future events or developments.</I>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>This release contains forward-looking information about taliglucerase alfa, a product candidate
that is the subject of a global development and commercialization agreement between Pfizer and
Protalix, including its potential benefits and the anticipated filing of a new drug application
with the FDA that involves substantial risks and uncertainties. Such risks and uncertainties
include, among other things, the uncertainties inherent in research and development; decisions by
regulatory authorities regarding whether and when to approve any drug applications that may be
filed for such product candidate as well as their decisions regarding labeling and other matters
that could affect its availability or commercial potential; and competitive developments.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>A further description of risks and uncertainties with respect to Pfizer can be found in Pfizer&#146;s
Annual Report on </I><I>Form 10-K</I><I> for the fiscal year ended December&nbsp;31, 2008 and in its reports on Form
10-Q and </I><I>Form 8-K</I><I>. A further description of risks and uncertainties with respect to Protalix can
be found in Protalix&#146;s Annual Report on </I><I>Form 10-K</I><I> for the fiscal year ended December&nbsp;31, 2008 and
its reports on </I><I>Form 10-Q</I><I>.</I>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"># # #
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