<SEC-DOCUMENT>0001144204-14-044715.txt : 20140724
<SEC-HEADER>0001144204-14-044715.hdr.sgml : 20140724
<ACCEPTANCE-DATETIME>20140724163040
ACCESSION NUMBER:		0001144204-14-044715
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140723
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140724
DATE AS OF CHANGE:		20140724

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:		14991652

	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>v0384589_8k.htm
<DESCRIPTION>8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of Report (Date of Earliest Event
Reported): July 23, 2014</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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

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

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    <TD STYLE="vertical-align: top; text-align: center; padding: 0; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Florida</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; width: 2%">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>001-33357</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; width: 2%">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>65-0643773</b></font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>(State or other jurisdiction</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>of incorporation)</b></P></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>(Commission File Number)</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>(IRS Employer</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Identification No.)</b></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <TD STYLE="vertical-align: top; text-align: center; width: 45%; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>2 Snunit Street</b></font></td>
    <TD STYLE="vertical-align: bottom; width: 10%; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; width: 45%; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>20100</b></font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Science Park, POB 455</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Carmiel, Israel</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>(Address of principal executive offices)</b></font></td>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>(Zip Code)</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <td style="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></td>
    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr>
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    <td style="width: 3%"><font style="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></font></td>
    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></td>
    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 3%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></td>
    <td style="width: 97%"><font style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.02. Other Events</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 23, 2014, the Board of Directors of Protalix BioTherapeutics,
Inc. (the &ldquo;Company&rdquo;) resolved to appoint Mr. Shlomo Yanai to serve as Chairman of the Company&rsquo;s Board of Directors,
effective July 24, 2014. Mr. Zeev Bronfeld, who had served as the interim Chairman of the Board until then, will remain a member
of the Board of Directors. A copy of a press release announcing the appointment is filed as Exhibit 99.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As compensation for his services as Chairman of the
Board, the Company has granted Mr. Yanai a 10-year option to purchase 150,000 shares of the Company&rsquo;s common stock, par
value $0.001 per share, under the Company&rsquo;s 2006 Stock Incentive Plan, as amended (the &ldquo;Plan&rdquo;). The options
will vest over a three-year period; the first 50,000 shares will vest on the first anniversary of Mr.Yanai&rsquo;s
appointment to the Board of Directors and the remaining 100,000 shares will vest in eight equal quarterly increments over the
subsequent two year period (subject to certain terms and conditions). Vesting of the options will be accelerated in full upon
a Corporate Transaction or a Change in Control, as those terms are defined in the Plan. The exercise price of the option is
$3.37 per share, the closing sales price of the Company&rsquo;s common stock on the NYSE MKT for the day immediately
preceding the effective date of the grant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition to the option, Mr. Yanai is entitled to an annual
fee equal to $200,000, earned and payable on a quarterly basis and standard reimbursement of certain expenses. He is also entitled
to indemnification and to be an insured in the Company&rsquo;s D&amp;O insurance policy, as are the Company&rsquo;s other executive
officers and directors.</P>

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

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

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Exhibits</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press release dated July 24, 2014</TD>
</TR></TABLE>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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    <TD COLSPAN="2" STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>PROTALIX BIOTHERAPEUTICS, INC.</b></font></td></tr>
<tr>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD COLSPAN="2" STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">&nbsp;</td></tr>
<tr>
    <TD STYLE="width: 50%; padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">Date: July 24, 2014</font></td>
    <TD STYLE="width: 5%; padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:&nbsp;</FONT></TD>
    <TD STYLE="width: 45%; padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    David Aviezer, Ph.D.</FONT></TD></tr>
<TR>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">Name:</TD>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0"> David Aviezer, Ph.D.</TD></TR>
<tr>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">Title: &nbsp;&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-bottom: 0; padding-left: 0; text-indent: 0">President and Chief Executive Officer</TD></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v0384589_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 99.1</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Protalix BioTherapeutics Names Shlomo
Yanai as Chairman of the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Carmiel, Israel</B>, <B>July 24, 2014 </B>/GlobeNewswire
/ Protalix BioTherapeutics, Inc. (NYSE MKT: PLX, TASE: PLX), announced today that it has chosen Mr. Shlomo Yanai as Chairman of
the Company&rsquo;s Board of Directors, effective on July 24, 2014. Mr. Zeev Bronfeld, the interim Chairman of the Board, will
remain a member of the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;The Board of Protalix and myself are pleased to have
Mr. Yanai join our Board as Chairman,&rdquo; stated Mr. Bronfeld.&nbsp; &ldquo;He brings extensive knowledge and vast experience
from his years as CEO at Teva Pharmaceutical Industries and Makhteshim Agan, which will be helpful in further guiding Protalix.
We look forward to his leadership as Chairman.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Yanai commented, &ldquo;I am excited to join the Board of
Protalix, and to be a part of the company&rsquo;s revolutionary approach to recombinant therapeutic proteins.&nbsp; This is an
exciting time for the Company, as we will continue together our efforts to progress the promising pipeline coming from ProCellEx&reg;
technology as well as building the market for Elelyso. I am enthusiastic about the future of Protalix and glad to be part of it.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 3.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 3.15pt">&ldquo;We are grateful to Mr. Bronfeld for his
term as interim Chairman, during which he lead the Board through the commercialization launch process of Elelyso in several countries,
and the continued expansion our pipeline. We are looking forward to continued growth of Protalix under Mr. Yanai&rsquo;s guidance.&rdquo;
stated David Aviezer, Ph.D., the Company&rsquo;s President and Chief Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; background-color: white">Mr. Yanai served as President
and Chief Executive Officer of Teva Pharmaceutical Industries Ltd. from 2007 until 2012. Previously, Mr. Yanai was the President
and Chief Executive Officer of Makhteshim Agan Industries (now Adama), a leading global agro-chemicals company. Mr. Yanai also
served as a member of the Board of Directors of the Bank Leumi Le-Israel, LycoRed Natural Products Industries and I.T.L. Optronics
Ltd. Until his retirement from the Israeli Army in 2001 at the rank of Major General, Mr. Yanai was the head of the Strategy Planning
Branch of General Headquarters of the Israel Defense Forces. Currently, Mr. Yanai is a member of the Board of Governors of The
Technion, the Israel Institute of Technology. Mr. Yanai is also the Chairman of the Board of Directors of Cambrex Corporation,
and is on the board of Lumenis Ltd.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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&reg;. Protalix's unique expression system presents a proprietary method for developing recombinant proteins in a cost-effective,
industrial-scale manner. Protalix's first product manufactured by ProCellEx, taliglucerase alfa, was approved for marketing by
the U.S. Food and Drug Administration (FDA) in May 2012, by Israel's Ministry of Health in September 2012, by the Brazilian National
Health Surveillance Agency (ANVISA) in March 2013, by the Mexican Federal Commission for the Protection against Sanitary Risk (COFEPRIS)
in April 2013, by the Australian Therapeutic Goods Administration (TGA) in May 2014 and by the regulatory authorities of other
countries. Marketing applications for taliglucerase alfa have been filed in additional territories as well. Protalix has partnered
with Pfizer Inc. for the worldwide development and commercialization of taliglucerase alfa, excluding Israel and Brazil, where
Protalix retains full rights. Protalix's development pipeline 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-112, an orally-delivered glucocerebrosidase
enzyme that is produced and encapsulated within carrot cells, for the treatment of Gaucher disease; pr-antiTNF, a similar plant
cell version of etanercept (Enbrel&reg;) for the treatment of certain immune and inflammatory diseases, such as rheumatoid arthritis,
Crohn's disease, colitis, psoriasis and other autoimmune and inflammatory disorders; PRX-110 for the treatment of Cystic Fibrosis;
and others.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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;
&quot;plan&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 related to management transitions; risks related to the commercialization of our drug product; failure
or delay in the commencement or completion of our clinical trials which may be caused by several factors, including: unforeseen
safety issues; determination of dosing issues; lack of effectiveness during clinical trials; slower than expected rates of patient
recruitment; inability to monitor patients adequately during or after treatment; inability or unwillingness of medical investigators
and institutional review boards to follow our clinical protocols; and lack of sufficient funding to finance clinical trials; the
risk that the results of the clinical trials of our product candidates will not support our claims of safety or efficacy, that
our product candidates will not have the desired effects or will be associated with undesirable side effects or other unexpected
characteristics; our dependence on performance by third party providers of services and supplies, including without limitation,
clinical trial services; delays in our preparation and filing of applications for regulatory approval; delays in the approval or
potential rejection of any applications we file with the FDA or other health regulatory authorities, and other risks relating to
the review process; the inherent risks and uncertainties in developing drug platforms and products of the type we are developing;
the impact of development of competing therapies and/or technologies by other companies and institutions; potential product liability
risks, and risks of securing adequate levels of product liability and other necessary insurance coverage; and other factors described
in our filings with the U.S. Securities and Exchange Commission. The statements in this release are valid only as of the date hereof
and we disclaim any obligation to update this information.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trout Group, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">646-378-2953</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">781-235-3060</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Source: Protalix BioTherapeutics, Inc.</B>&nbsp;</P>



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