$43.7 million financing for Protalix' Fabry disease and other programs

12 March 2020

Shares of Israeli biotech firm Protalix BioTherapeutics (TASE: PLX), which are also traded in New York, were up 10.6% at $2.61 in morning activity, after the company said it has successfully secured securities purchase agreements to raise $43.7 million through a private equity investment (PIPE) in the company.

Participating in the financing were a number of leading Israeli and USA-based investors including Psagot Investment House, More Investment House, Highbridge Capital, UBS O'Connor, Rosalind Capital, and Alrov Properties, among others. Rosario Capital and Houlihan Lokey served as financial advisors in the private placement.

Net proceeds from the financing will be used to advance the company's clinical programs and commercialization of PRX-102 for the treatment of Fabry disease, as well as to further develop its early stage pipeline of therapeutics, and for general corporate purposes.

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