Shlomo Yanai Resigns as Chairman of the Board of Protalix BioTherapeutics
August 13 2019 - 4:05PM
Protalix BioTherapeutics, Inc. (NYSE American:PLX) (TASE:PLX)
today announced that Shlomo Yanai has resigned from the Company’s
Board of Directors for personal reasons, effective today. Mr. Yanai
has served on the Board of Directors and as the Company’s Chairman
of the Board since July 2014. With the announcement of Mr. Yanai’s
resignation, the Board of Directors unanimously elected Zeev
Bronfeld, a current independent director, as Chairman of the Board.
Mr. Bronfeld is one of the earliest investors in the Company. He
has served as a director of Protalix Ltd. since 1996 and as a
director of the Company since December 2006. Mr. Bronfeld
is an experienced businessman with experience in the management of
biotechnology and life sciences companies. He has been involved in
numerous private and public Israeli companies, and in a number of
technology incubators in Israel that facilitate the formation and
development of biotechnology and technology companies.
“After five years of service, I have decided to pass the torch
to Zeev and step down from the Board of Directors,” said Mr. Yanai.
“Protalix has capable and talented people throughout the company
and I am proud of what we have been able to accomplish together. I
thank the Board, management and the rest of the Protalix family for
allowing us to grow and achieve together.”
“Shlomo’s contributions to Protalix over the years have been
instrumental to the development of pegunigalsidase alfa, our
proprietary drug candidate currently being studied in phase III
clinical trials for the treatment of Fabry disease, and he has been
a trusted leader of our Board of Directors,” said Zeev Bronfeld,
incoming Chairman of the Board of Directors. “On behalf of the
entire Protalix team, we send him our deepest gratitude for his
years of service and leadership.”
About Protalix BioTherapeutics, Inc.
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®. 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 and, subsequently, by the regulatory authorities of
other countries. Protalix has licensed to Pfizer Inc. the worldwide
development and commercialization rights for taliglucerase alfa,
excluding Brazil, where Protalix retains full rights. Protalix’s
development pipeline includes the following product candidates:
pegunigalsidase alfa, a modified version of the recombinant human
alpha-GAL-A protein for the treatment of Fabry disease; OPRX-106,
an orally-delivered anti-inflammatory treatment; alidornase alfa
for the treatment of Cystic Fibrosis; and others. Protalix has
partnered with Chiesi Farmaceutici S.p.A., both in the United
States and outside the United States, for the development and
commercialization of pegunigalsidase alfa.
Forward-Looking Statements
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 “expect,”
“anticipate,” “believe,” “estimate,” “project,” “plan,” “should”
and “intend” 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. The
statements in this press release are valid only as of the date
hereof and we disclaim any obligation to update this information,
except as may be required by law.
Investor Contact
Alan Lada, Vice President Solebury Trout
617-221-8006alada@soleburytrout.com
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