Protalix receives $20M milestone from Chiesi after FDA approval of ELFABRIO

Protalix BioTherapeutics, Inc.

$20M milestone triggered by FDA approval of ELFABRIO (pegunigalsidase alfa-iwxj) for Fabry disease; payable within 30 days.
Proforma cash position including milestone is $51.6M as of May 18, 2023.
Protalix has received $95M total in upfront and development cost payments from Chiesi under two agreements.
Eligible for up to $1.0B in future regulatory and commercial milestones plus tiered royalties (15-40% US, 15-35% ex-US).
CEO Dror Bashan states the payment strengthens financial position; partner Chiesi has global commercial expertise.

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