Protalix BioTherapeutics Appoints Dror Bashan as its New President and Chief Executive Officer and Director
May 21 2019 - 7:00AM
Protalix BioTherapeutics, Inc. (NYSE American:PLX) (TASE:PLX)
today announced that Dror Bashan has been appointed to serve as the
Company’s new President and Chief Executive Officer, and a
director, effective June 30, 2019, replacing Moshe Manor, who
is stepping down from those roles for personal reasons. Mr.
Manor will assist with the transition and continue to work with the
Company on a consultant basis.
“Dror brings valuable experience and knowledge in the
pharmaceutical industry to our Company, and I am happy to welcome
him to Protalix,” said Shlomo Yanai, Chairman of Protalix’s Board
of Directors. “Moshe has made a great contribution to our
organization over the last four years, and has played a critical
role in our development and success in advancing our
pipeline. On behalf of Protalix and the Board of Directors, I
would like to thank Moshe for his significant contributions and
outstanding leadership and wish him great success in his future
endeavors.”
“I have the deepest gratitude to Protalix’s employees and its
Board of Directors. I have decided that, for personal reasons
unrelated to the Company, the time has come to hand over leadership
to a new chief executive officer,” said Mr. Manor. “I am very
honored to have led this great organization and will continue to
watch with excitement and anticipation as Protalix progresses in
the development and commercialization of its promising
pipeline.”
“I am very proud to become Protalix’s President and Chief
Executive Officer, and am looking forward to working with such a
talented management team to continue the progress of Protalix’s
future development,” said Mr. Bashan. “I believe that my
broad experience in the pharmaceutical industry, which covers a
range of disciplines in the field, will be a valuable resource for
the company. I am very excited about the potential path
forward and glad to be part of Protalix’s future.”
Mr. Bashan has over 20 years of experience in the pharmaceutical
industry with roles ranging from business development, marketing,
sales and finance providing him with both cross regional and cross
discipline experience and a deep knowledge of the global
pharmaceutical and health industries. From 1998 through 2018,
he served in a number of senior positions at Teva Pharmaceutical
Industries Ltd. Most recently, he served as Teva’s Senior
Vice President, Global Business Development, and was involved in
strategic alliances, cross-company strategic projects and the
acquisition and divestiture of assets. Mr. Bashan holds a BA in
Economics and Business Management from the Tel Aviv University in
Tel Aviv, Israel, and an MBA from the Tel-Aviv University.
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 617-221-8006
alada@soleburytrout.com
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