Lease signed for an initial period of seven and a half years will triple the area.
Protalix BioTherapeutics signed a lease for the expansion of its manufacturing and research facility. The extension, located at the company’s facility in Carmiel, Israel, will provide Protalix with approximately three times its current space.
The site is particularly important in anticipation of the potential commercialization of its lead candidate, prGCD, in a Phase III trial for Gaucher disease, Protalix points out. The term of the lease agreement is seven and a half years. Protalix has the option to extend the life of the lease for up to 15 additional years.
“In light of the progress we have made to date in our prGCD program, we determined that we should commence the expansion of our current facility,” says Yossi Maimon, CFO. “Our expanded facility will provide us with the space and capacity required to bring prGCD to market and meet the anticipated demand for the drug following its anticipated approval by the United States Food and Drug Administration while continuing to advance the research of the additional product candidates in our development pipeline.”