<SEC-DOCUMENT>0001144204-12-006728.txt : 20120209
<SEC-HEADER>0001144204-12-006728.hdr.sgml : 20120209
<ACCEPTANCE-DATETIME>20120209061302
ACCESSION NUMBER:		0001144204-12-006728
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120209
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120209
DATE AS OF CHANGE:		20120209

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:		12584179

	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>v301729_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<B>UNITED STATES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C.&nbsp;&nbsp;20549</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of Earliest Event
Reported): February 9, 2012</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Protalix BioTherapeutics, Inc.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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    <TD STYLE="width: 32%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 32%; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">Florida</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">001-33357</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">65-0643773</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
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    <TD STYLE="width: 2%; vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 32%; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">2 Snunit Street</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">Science Park, POB 455</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">Carmiel, Israel</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">20100</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 115%; font-weight: bold; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code +972-4-988-9488</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former name or former address, if
changed since last report.)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;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 (see General
Instruction A.2. below):</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"> <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"> <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"> <FONT STYLE="font-family: Wingdings 2">&#163;</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<B>Item 8.01.&nbsp;&nbsp;Other Events</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt">On February 9, 2012, Protalix BioTherapeutics, Inc.
(the &ldquo;Company&rdquo;) issued a press release announcing that new clinical data on taliglucerase alfa will be presented at
the 8th Annual Meeting of the Lysosomal Disease Network: WORLD Symposium 2012 being held February&nbsp;8-10 in San Diego, California.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt">A copy of the press release is filed as Exhibit
99.1.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 9.01.&nbsp;&nbsp;Financial Statements and
Exhibits</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 44pt; text-align: left"><B>(d)</B></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><B>Exhibits</B></TD>
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<TD STYLE="width: 44pt; text-align: left">99.1</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Press release dated February 9, 2012</TD>
</TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><BR>
</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 50%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 50%; line-height: 115%; font-weight: bold">PROTALIX BIOTHERAPEUTICS, INC.</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%">Date: February 9, 2012</TD>
    <TD STYLE="line-height: 115%">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ David Aviezer, Ph.D.&#9;&nbsp; </U></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Name:&nbsp;&nbsp;&nbsp; David Aviezer, Ph.D.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Title: &nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive
        Officer</P></TD></TR>
<TR>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 99.1</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Protalix Announces New Clinical Data on Taliglucerase
Alfa to be Presented at the WORLD Lysosomal Disease Network Symposium</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">CARMIEL, Israel, February 9, 2012/GlobeNewswire/Protalix
BioTherapeutics, Inc. (NYSE-AMEX:PLX, TASE:PLX), announced today that new clinical data on taliglucerase alfa will be presented
at the 8th Annual Meeting of the Lysosomal Disease Network: WORLD Symposium 2012 being held February&nbsp;8-10 in San Diego, California.
Taliglucerase alfa is the Company&rsquo;s proprietary plant cell expressed recombinant form of human Glucocerebrosidase (GCD),
which is being developed for the treatment of Gaucher disease.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">Professor Ari Zimran, M.D., Director of the Gaucher
Clinic, Shaare Zedek Medical Center, Jerusalem, Israel, is presenting long-term safety and efficacy data from the Company&rsquo;s
double-blind, follow-on extension study of taliglucerase alfa for the treatment of Gaucher disease in na&iuml;ve patients. Eligible
patients who completed nine months of treatment in the Company&rsquo;s pivotal phase III clinical trial were offered the opportunity
to participate in the extension study and continue to receive taliglucerase alfa at the same dose they received in the phase III
clinical trial for an additional 15 months in a blinded manner. Accordingly, the extension trial included two treatment groups;
one treated with a 60 U/kg dose and the other with a 30 U/kg dose. The major endpoints of the study were spleen volume, liver volume,
hemoglobin concentration, platelet count, and chitotriosidase activity. Twenty-six patients were enrolled in the extension trial
which was performed in centers throughout Europe, Israel, North America, South America and South Africa.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">Patients treated with taliglucerase alfa in the extension
trial continued to demonstrate a statistically significant reduction in mean spleen volume after 24 months, compared with baseline,
in both treatment groups. Both dosage groups demonstrated statistically significant mean reductions in spleen volume; reductions
of 54.0% (p&lt;0.0001) in the 60 U/kg group and of 41.0% (p&lt;0.0001) in the 30 U/kg group. Statistically significant improvements
were also observed in all secondary end points. Both groups demonstrated statistically significant mean reductions in liver volume;
reductions of 17.5% (p&lt;0.0003) in the 60 U/kg group and of 20.6% (p&lt;0.0001) in the 30 U/kg group. Patients with Hepatomegaly
demonstrated a reduction in liver volume of 25.2% (p&lt;0.0001).</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">Statistically significant mean increases in hemoglobin
concentration were also demonstrated by both groups; mean increases from baseline (from 11.6 g/DL to 13.9 g/DL (p&lt;0.0020)) (25.8%)
in the 60 U/kg group and mean increases from baseline (from 12.4 g/DL to 13.6 g/DL (p&lt;0.0314)) (13.2%) in the 30 U/kg group.
Anemic patients demonstrated a mean increase from baseline in hemoglobin concentration (from 9.5 g/DL to 12.9 g/DL (p&lt;0.0013))
(40.8%).</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">The data also demonstrated statistically significant
mean increases in platelet count for both groups; increases from 69,043 to 141,071 (p&lt;0.0016) in the 60 U/kg group and from
64,900 to 93,333 (p&lt;0.0105) in the 30 U/kg group.<BR>
</P>

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Last, statistically significant mean reductions in chitotriosidase activity were demonstrated by both groups; a reduction of 76%
(p&lt;0.0001)) in the 60 U/kg group and of 61% (p&lt;0.0001) in the 30 U/kg group.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">&quot;Pivotal and follow-up clinical studies of taliglucerase
alfa to date demonstrate that taliglucerase alfa may be an effective treatment for Gaucher disease,&quot; said Dr. Ari Zimran.
&quot;The results of this 24 month extension trial suggest that taliglucerase alfa has the potential to become a treatment alternative
for Gaucher disease patients should it be approved.&quot;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">The safety analysis presented for both treatment groups
demonstrates that taliglucerase alfa was well tolerated, and no drug related serious adverse events were reported. Two patients
who participated in the extension trial developed neutralizing IgG antibodies that were determined to be positive in an <I>in vitro</I>
assay, and were determined to be negative in a cell-based assay. In addition, one patient in the 60 U/kg dose group experienced
a hypersensitivity reaction during month 10 of treatment. Treatment of this patient has been continued with premedication for an
additional 32 months without any treatment related adverse event reported.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">Gregory Pastores, M.D., Professor of Neurology and Pediatrics
and Director of the Neurogenetics Laboratory at the New York University School of Medicine, is presenting at the WORLD 2012 Symposium
the full results of all adult patients that participated in the Company&rsquo;s multi-center, open-label, nine month switchover
trial of taliglucerase alfa for the treatment of Gaucher disease. In the switchover trial, patients with stable disease were switched
from treatment via intravenous infusions of imiglucerase (Cerezyme (R)) to intravenous infusions of taliglucerase alfa every two
weeks at an equivalent dose to the patient's previous imiglucerase dose. Twenty-six adult patients were enrolled in the switchover
trial which was performed in centers throughout Europe, Israel, North America and Australia.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">The results of the switchover trial demonstrate that
over a nine-month treatment period of the study, patients remained stable with regard to the efficacy endpoints--spleen volume,
liver volume, platelet count and hemoglobin concentration--after switching to taliglucerase alfa from imiglucerase. The safety
analysis presented for the switchover trial demonstrates that taliglucerase alfa was well tolerated, and no drug related serious
adverse events were reported. One patient developed neutralizing IgG antibodies that were determined to be positive in an <I>in
vitro</I> assay, and were determined to be negative in a cell-based assay. Another patient experienced a hypersensitivity reaction,
which was treated in a physician&rsquo;s office and resolved. The patient declined to continue infusions with premedication.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">&quot;The current findings are in accord with the interim
observations made last year, which revealed maintenance of clinical benefit in patients switched from imiglucerase to taliglucerase
across all doses. Additionally, all drug-related adverse effects were mild or moderate and transient in nature,&quot; said Dr.
Gregory Pastores.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt">Last, Laura van Dussen, M.D., of the Academic Medical
Center, University of Amsterdam, is presenting long term bone marrow responses, as measured by Quantitative Chemical Shift Imaging
(QCSI) MRI, following treatment of Gaucher disease patients with taliglucerase alfa. Eight patients from the Company&rsquo;s pivotal
and extension trial had their fat fraction evaluated by QCSI. At 24 months, seven of the eight patients demonstrated significant
improvement in fat fraction from baseline. One patient remained unchanged. In addition, four patients whose score for bone was
determined to be &quot;at risk&quot; at baseline (fat fraction &lt;0.23) were no longer classified as &quot;at risk&quot; according
to the protocol after 24 months of treatment with taliglucerase alfa.<BR>
</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 12pt"><BR>
Marketing applications for taliglucerase alfa have been filed in the United States, Europe, Israel, Brazil and Australia. The
U.S. Food and Drug Administration Prescription Drug User Fee Act (PDUFA) target action date for taliglucerase alfa is May 1, 2012.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>About Protalix</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Protalix is a biopharmaceutical company focused on the
development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell based expression
system, ProCellEx(R). Protalix's unique expression system presents a proprietary method for developing recombinant proteins in
a cost-effective, industrial-scale manner in an environment free of mammalian components and viruses. Protalix's lead compound,
taliglucerase alfa, an enzyme replacement therapy for the treatment of Gaucher disease, completed phase III development. Protalix's
development pipeline also includes the following product candidates: PRX-102, a modified version of the recombinant human alpha-GAL-A
protein for the treatment of Fabry disease; PRX-105, a pegylated recombinant human acetylcholinesterase in development for several
therapeutic and prophylactic indications, a biodefense program and an organophosphate-based pesticide treatment program; an orally-delivered
glucocerebrosidase enzyme that is naturally encased in carrot cells, also for the treatment of Gaucher disease; pr-antiTNF, a similar
plant cell version of etanercept (Enbrel(R)) for the treatment of certain immune diseases such as rheumatoid arthritis, juvenile
idiopathic arthritis, ankylosing spondylitis, psoriatic arthritis and plaque psoriasis; and others.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">To the extent that statements in this press release
are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the
Private Securities Litigation Reform Act of 1995. The terms &quot;anticipate,&quot; &quot;believe,&quot; &quot;estimate,&quot;
&quot;expect&quot; and &quot;intend&quot; and other words or phrases of similar import are intended to identify forward-looking
statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future
experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations
as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause material differences
include, among others: risks relating to the review process of the FDA, the European Medicines Agency (EMA), other foreign regulatory
bodies and other governmental regulatory bodies, including the risk that regulatory authorities may find that the data from our
clinical trials and other studies is insufficient for regulatory approval; risks relating to delays in the FDA's, the EMA's or
other foreign regulatory authorities' approval of any applications we file or refusals to approve such filings, including the NDA
we filed with the FDA for taliglucerase alfa for the treatment of Gaucher disease; the risk that applicable regulatory authorities
may refuse to approve the marketing and sale of a drug product even after acceptance of an application we file for the drug product;
risks relating to the completion of our clinical trials; and other factors described in our filings with the Securities and Exchange
Commission. Companies in the pharmaceutical and biotechnology industries have suffered significant setbacks in advanced or late-stage
clinical trials, even after obtaining promising earlier trial results or in preliminary findings for such clinical trials. Further,
even if favorable testing data is generated from clinical trials of drug products, the FDA, EMA or any other foreign regulatory
authority may not accept or approve an NDA filed by a pharmaceutical or biotechnology company for such drug product. Failure to
obtain approval from the FDA, EMA or any other foreign regulatory authority of any of our drug candidates in a timely manner, if
at all, will severely undermine our business and results of operations by reducing our potential marketable products and our ability
to generate corresponding product revenues. The statements in this release are valid only as of the date hereof and we disclaim
any obligation to update this information.<BR>
</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><BR>
<B>Investor Contact</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Marcy Nanus<BR>
The Trout Group, LLC<BR>
646-378-2927<BR>
mnanus@troutgroup.com</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Media Contact</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt">Jennifer Conrad or Kari Watson<BR>
MacDougall Biomedical Communications<BR>
781-235-3060<BR>
jconrad@macbiocom.com<BR>
kwatson@macbiocom.com<BR>
<BR>
</P>

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